Paramount has been in talks with two theatre chains to minimize the 90 day time span for theatrical showcasing for two of its upcoming horror movies
There was a time when the silver screen meant a lot in Hollywood. The movies made in Hollywood were showcased in theaters because of their projectors that were rarely available at home. This went on for a long time until the genesis of VCR.
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From then on, theaters have fought the battle for their rights to earn a proper showcase time. This essentially means that the movies are only played in the theaters for a specified amount of time. They now have the exclusive right to show the movie for 90 days before they could be available anywhere else.
Last year however, Hollywood saw another phenomenon occurring when theaters refused to play the Sony Pictures production The Interview and the movie was then taken on by digital platforms for release.
The revenue might have been lower because of the controversy attached to the movie but it was a call to the production companies to look at the figures. Last year alone, the rate of moviegoers had decreased while online streaming rates and online purchases have increased exponentially.
Paramount has taken the huge task of persuading theater chains to minimize their showcasing duration span. It has succeeded in convincing AMC Theaters, the second largest U.S. theater chain, and Canadian exhibitor Cineplex to reduce the showcase time window for two of their upcoming releases in October; the horror franchise Paranormal Activity’s sixth installment The Ghost Dimension and the horror comedy Scouts’ Guide to the Zombie Apocalypse.
Both movies are low budget movies out of which Paranormal Activity has been consistently declining and has a limited fan base. The last installment only remained in the cinemas for hardly three weeks and went to limited shows to 300 theaters earning less than it’s production cost.
Plus the theaters are concerned for the advertising costs of these movies saying that it requires a double advertising budget, one for the theater release and the other for home release. In this deal, the movies will be showed for three weeks after which there would be a 17 days span after which they would be made available for home viewing and digital streaming.
According to NYTimes, the studio is hoping that the deal would work and they can negotiate for other movies as well that they feel are faced with same problems. The deal would not apply to sure hail movies like the upcoming July release of Mission Impossible: The Rouge Nation but other studios will be watching the result of this deal closely to negotiate similar terms.