It just got ugly up in here. AMC Theaters has just announced that they will no longer be showing any more movies from Universal Pictures. This comes after a dispute in the studio, premiering Trolls, World Tour, online, Digital, streaming, bypassing a theatrical release in the wake of theatres are shutting down around the country.
NBCUniversal CEO Jeff Shell had previously promised that he’d be releasing a top-tier titles on streaming and in theaters at the same time. And AMC Theaters is having none of that. Universal has made the first move, and releasing the Trolls sequel-on-the-PVOD format, this will fit on April 10. The movie was a huge streaming success, and has reportedly pulled in over $100 million in rentals. Since the theater is out of the equation, the profits earned from releasing the movie on PVOD proved to be higher than the entire theatrical release of the first movie.
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The theatres are located in Georgia and Texas, are already in the process of reopening. But most major chains won’t open anywhere in the United States until at least mid-summer. This includes the AMC Theaters, Cinemark, Regal and Alamo Drafthouse. NBCUniversal CEO Jeff Shell, had this to say about the success of Trolls: World Tour.
“The results for the Trolls: World Tour have exceeded our expectations and demonstrated the viability of PVOD,. As soon As theaters, jonti, and we expect to release movies on both formats.”
In most cases, Studios were required to wait for at least 90 days, from a movie’s theatrical release before they could bring it to home video. AMC Theatres-chairman, CEO Adam Aron has been strongly against changing this rule, and has sent a strongly worded letter to Universal’s Filmed Entertainment Group, chairman, Donna Langley. He believes any changes to the video-on-demand release window, it is ‘unacceptable’.
“It is disappointing to us, but to Jeff’s comments, as to Universal’s unilateral actions and intentions have left us with no choice. Therefore, effectively immediately, AMC will no longer play any of the Universal movies in any of our theaters in the United States, Europe, or the Middle East. This policy affects any and all the Universal movies per se, goes into effect today, and as our theatres, jonti, and it is not some hollow or ill-considered threat.”
“Incidentally, this policy is not aimed solely at Universal, out of pique, or to be pay punitive in any way, it also extends to any movie maker, who unilaterally abandons the current windowing practices are not present, good faith negotiations between us, so that they’re as responsible, and we, as exhibitor, both benefit and neither are hurt from such changes. Currently, with the press, leave a comment, today, Universal is the only studio in contemplating a wholesale change to the status quo. Hence, this immediate communication is in the response.”
Adam, He continued to rail against Universal Pictures and their new new new new new change-of-practice regarding the movie release. He went onto say this.
Universal’s unilateral pronouncements on this issue are unpalatable to us, as has been always, and the leg of the case, the AMC is willing to sit down with Universal to discuss different windows strategies and national economic models will be between your company and ours. However, in the absence of such discussions, and to an acceptable conclusion thereto, our decades of incredibly successful a business activity together ” has sadly come to an end.”
Nato, The National Association of Theatre Owners, believes that the recent success of Trolls in World Tour on video-on-demand, it is simply the result, or unique circumstances. They had this to say about the matter.
“This performance is indicative, or hundreds, or millions of people isolated in their homes, which is seeking entertainment, not a shift in the consumer movie viewing preference. It is not surprising that the people under shelter, in-home, as ordinances, for weeks on end, with the increasingly limited entertainment options, would take advantage of the movie’s direct-to-video-on-demand, the move to keep the children entertained, even at a premium price. Further, the Universal, they mainly concern heavily-marketed-the-title-as-a-theatrical-release in theaters, and the difference, for weeks on end. That is, it is unlikely to recur in normal times, and those costs haven’t a leg is disclosed.”
“The Universal does not have reason to use unusual circumstances in an unprecedented environment-as-a-springboard-to-bypass-a true theatrical release.Theatres are not a beloved immersive, shared experience that cannot be replicated – an experience that many of the video-on-demand viewers of this movie would have participated in had the world not been sequestered at home, are desperate for something new to watch with their families. “We are confident that when theatres, jonti, studios will continue to benefit from the global theatrical box office, followed by a traditional home to build.”
Nato went onto to claim that home-video transactions are on a steady decline. They state that sales-and-rentals, or singular they racked in $24.9 billion in 2004. That number has shrank to $9.3 billion in 2019. AMC Theatres has been in dire straights since the world went under lockdown. AMC Entertainment, revealed in their attempt to raise $500 million in new debt, using the funds to stay afloat through this crisis. That money must be paid back by the year 2025. But it should be enough to keep AMC going until mid-summer when things are expected to be back to normal. There have also bone plenty of rumors that the chain was preparing to file for bankruptcy. This news comes from Variety.
Topics: Trolls 2, Stream