film exhibition agreement

Film Market (AFM), and both the cover page and these terms and conditions are incorporated by this reference as the “Exhibition Agreement” or the “Agreement”. UFEG is working with AMC and other exhibition partners on plans to restart theatrical releases with a dynamic slate of films as diverse as the audiences who embrace them from Universal Pictures, Focus Features and DreamWorks Animation, including upcoming installments in the blockbuster Fast & Furious, Jurassic World and Illumination’s Despicable Me/Minions franchises, among other highly-anticipated titles. I am a partner in the corporate entertainment department of Greenberg Glusker, practicing entertainment, corporate, and tax law. rnoonan@amctheatres.com. Universal Filmed Entertainment Group (UFEG) produces, acquires, markets and distributes filmed entertainment worldwide in various media formats for theatrical, home entertainment, television and other distribution platforms. Each film company would own the rights within their respective country. Because of the absence of financial commitment by the distribution company, and the limited upside from the low fee, distribution companies have little incentive to adequately market and push a rent-a-system film, so such films often flop. The grant of distribution rights to the distribution company is always of all rights in perpetuity throughout the world, making the distribution company the complete and absolute owner of the film. The partnership we’ve forged with AMC is driven by our collective desire to ensure a thriving future for the film distribution ecosystem and to meet consumer demand with flexibility and optionality.”, Vice Chairman and Chief Distribution Officer of UFEG Peter Levinsohn, who led negotiations on behalf of the studio, added, “Universal’s commitment to innovation in how we deliver content to audiences is what our artists, partners and shareholders all expect of us, and we are excited about the opportunity this new structure presents to grow our business. Because the distribution company does not directly finance the cost of production, it usually does not have the same extensive controls over production as in the case of a PFD agreement. AMC is also #1 or #2 in market share in 9 of the 15 countries it serves in North America, Europe and the Middle East. Opinions expressed by Forbes Contributors are their own. Thus, most pre-sales involve a foreign distributor committing to pay a fixed dollar amount (referred to as an advance or a minimum guarantee) upon delivery of a film in exchange for specified rights in the film in a given country for a limited term. Negative Pick-Up: A negative pick-up is similar to a PFD agreement except that the distribution company, again typically a studio or VOD company, agrees to pay a fixed price upon delivery of the film. 212 0 obj <> endobj Evan Langweiler Exhibitor Registration. In exchange for the absence of fixed payments by the distribution company, the distribution company agrees to a very low distribution fee, and the remaining revenues are remitted to the producer. The production company often retains a theoretical interest in net profits, if any, generated by the film, and often not even that. 0 Universal City, CA and Leawood, KS —July 28, 2020—Universal Filmed Entertainment Group (UFEG), a division of Comcast Corporation (NASDAQ: CMCSA), and AMC Entertainment Holdings, Inc. (NYSE: AMC) announced today a multi-year agreement under which UFEG films will … The various types of distribution agreements are discussed below. �fd`���,>��6g`�w{����f�ΒX|۷���B���e��!�*6�}ty�$��(8 Ջ0�tA��n��"����"��` Bq Because a sales agent does not pay an advance to the owner, and because the sales agent’s distribution expenses are typically relatively low, the sales agent is usually entitled to a relatively low distribution fee. For example, a pre-sale is merely a license entered into prior to completion of a film. Sales Agent: Under this type of agreement, a sales agent acts as the film owner’s agent in consideration for a commission. Various kinds of films for electronic display, battery, medical, food packaging, etc. SAG-AFTRA and Netflix Announce Historic Contract. Production/Finance/Distribution Agreement: In a production/finance/distribution agreement, commonly referred to as a “PFD agreement,” a distribution company (e.g., a studio or VOD company) hires a production company to produce a film, and the distribution company agrees to directly finance production of, and to distribute, the film. AMC will also share in these new revenue streams that will come to the movie ecosystem from premium video on demand. endstream endobj 213 0 obj <. Co-Production: The term “co-production” originally designated an agreement entered into between two film companies in two different countries pursuant to a co-production treaty between the two countries. As people enjoy getting out of their homes, we believe the mystical escape and magical communal experience offered at our theatres will always be a compelling draw, including as it does our big screens, big sound and big seats not to mention the alluring aroma of our perfectly prepared popcorn. In most cases, the distribution company acquires worldwide rights in perpetuity upon delivery of the film. AMC operates among the most productive theatres in the United States' top markets, having the #1 or #2 market share positions in 21 of the 25 largest metropolitan areas of the United States. However, the term “co-production” has mutated over time to refer to any agreement between two or more film companies relating to the production and ownership of a film. An intimate examination of a contemporary artist couple, whose living and working patterns are threatened by the imminent I was an adjunct professor at both the UCLA Law School and the UCLA Anderson School of Management, teaching Entertainment Law and Finance for many years. These types of arrangements resemble either a partnership (when there is a sharing of profits and losses) or a separate ownership (where there is no sharing of profits and losses). %%EOF NBCUniversal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, world-renowned theme parks and a suite of leading Internet-based businesses. %PDF-1.6 %���� Pre-Sale: A pre-sale is a limited distribution agreement for a particular country entered into prior to completion, and often even prior to commencement of production, of the film. 364 0 obj <>stream E. Organizer's Curator will be credited by full name for writing of the Exhibition catalogue essay and curation of the Exhibition. I have been named (a) one of the top 100 entertainment lawyers by the Hollywood Reporter, (b) one of the top 25 entertainment lawyers by Variety, (c) one of the top 100 lawyers in California by the Daily Journal and (d) one of top 3 "Most Influential Lawyers" in media by the National Law Journal. The agreement includes at least three weekends (17-days) of theatrical exclusivity for all Universal Pictures and Focus Features theatrical releases, at which time the studio will have the option to make its titles available across premium video on demand (PVOD) platforms, including through AMC Theatres On Demand. So, in total, Universal and AMC each believe this will expand the market and benefit us all. 293 0 obj <>/Filter/FlateDecode/ID[<02A041E8F1A3704A90BCCFE1E766DD9A>]/Index[212 153]/Info 211 0 R/Length 207/Prev 309846/Root 213 0 R/Size 365/Type/XRef/W[1 3 1]>>stream (Photo by Martin BUREAU / AFP) (Photo credit should read MARTIN BUREAU/AFP/Getty Images). All Rights Reserved, This is a BETA experience. I graduated from UCLA (Phi Beta Kappa. Agreement Based on Commitment to Long-Term Partnership and Shared Belief in the Importance of Preserving and Enhancing the Theatrical Experience, Partnership will Increase the Overall Amount of Movie Watching by Providing Optionality for Audiences. Focusing on the long-term health of our industry, we would note that just as restaurants have thrived even though every home has a kitchen, AMC is highly confident that moviegoers will come to our theatres in huge numbers in a post-pandemic world. The companies reached this agreement based on their shared commitment to a mutually beneficial long-term partnership that is focused on serving consumers worldwide, while preserving and enhancing the theatrical experience. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, web site and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. Thus, the production company typically retains more creative discretion than under a PFD agreement. Because of the introduction of the lender and the completion guarantor, these transactions are more complex than a PFD agreement. Thus, licenses encompass a broad array of grants of rights, ranging all the way from a one-day pay-per-view television license to a grant of all worldwide rights for a term of 25 years. For more information, visit www.amctheatres.com. In the coming weeks, the two companies will begin discussions surrounding international distribution agreements in the countries in Europe and the Middle East served by AMC. © 2020 Forbes Media LLC. We are grateful to AMC for their partnership and the leadership they have shown in working with us to reach this historic deal.”, Commenting on the agreement, AMC CEO Adam Aron said, “AMC enthusiastically embraces this new industry model both because we are participating in the entirety of the economics of the new structure, and because premium video on demand creates the added potential for increased movie studio profitability, which should in turn lead to the green-lighting of more theatrical movies. TOPSHOT - People watch the movie "La Reine Margot" at the Louvre Museum during the first of eight... [+] screenings of the outdoor cinema "Cinema Paradiso Louvre" in Paris, on July 19, 2019. AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 1,000 theatres and 11,000 screens across the globe. Under these agreements, the production company is little more than a dependent agent of the distribution company and is subject to the complete control of the distribution company on all aspects of production. UNIVERSAL CITY, Calif. & LEAWOOD, Kan.--(BUSINESS WIRE)--Universal Filmed Entertainment Group (UFEG), a division of Comcast Corporation (NASDAQ: CMCSA), and AMC Entertainment Holdings, Inc. (NYSE: AMC) announced today a multi-year agreement under which UFEG films will be exhibited in AMC Theatres in the U.S. The full terms of the deal are confidential and are not being disclosed. In most cases, these agreements contain pivotal wording referring to a “grant” of rights, resulting in such agreements being licenses, not sales agent agreements. NBCUniversal is a subsidiary of Comcast Corporation. Pursuant to these treaties, if the film was produced in part in each country, the film would qualify for certain quota and subsidy benefits in each country.

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