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This topic comprises 2 pages: 1 2
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Author
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Topic: Direct Paramount-Exhibitor VPF Agreements
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Kevin Fairchild
Expert Film Handler
Posts: 125
From: Kennewick, WA, USA
Registered: Oct 2008
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posted 01-22-2009 03:50 PM
Here is a copy of a letter we got today.
quote:
PARAMOUNT PICTURES ANNOUNCES DIRECT-TO-EXHIBITORS
DIGITAL CINEMA DEAL
First Studio To Implement Agreement To Accelerate
Expansion Of Digital Footprint
HOLLYWOOD, CA (January 22, 2009) – Paramount Pictures, a unit of Viacom Inc. (NYSE: VIA and VIA.B), today announced it has become the first studio to offer digital cinema support directly to exhibitors across the United States and Canada. The move is expected to accelerate the roll-out of digital and 3-D projection systems in theatres. The announcement was made by Jim Tharp, President of Domestic Theatrical Distribution.
The deal works in parallel with previously announced agreements with DCIP (Digital Cinema Implementation Partners), Cinedigm, Kodak, and Sony but allows exhibitors to seek financing for d-cinema systems locally rather than wait for comprehensive integrator agreements, which require significantly more upfront capital, to be completed. In addition, the agreement allows exhibitors to own and control their equipment (which is required to be DCI/SMPTE compliant), and to switch to an integrator-supported agreement at a later date if desired. The new agreement also includes independent theatres that do not belong to any integrator groups.
In making the announcement, Tharp said, “We are excited about the potential of more theatres offering more of Paramount’s films in the highest quality digital and 3-D. Today’s announcement is a good step forward to providing more audiences with the very best in movie viewing.”
NATO President and CEO John Fithian said, "Paramount is getting out front on this critical industry transition and we applaud them. Direct arrangements between distributors and exhibitors won't work for everyone, but for some of our members, it could make the difference in surviving and thriving in the digital era. And it certainly enables some exhibitors to get wired much faster -- and that means more 3-D screens sooner. We urge all studios to give this creative option a fair chance."
To date, Paramount has signed nine digital cinema integration deals, the most of any major studio. They include domestic agreements with Cinedigm (previously Access IT) Phase 1 and Phase 2, Kodak, Sony, and DCIP, three deals with European integrators XDC, Arts Alliance Media and Ymagis, and two deals with Asian integrators DCK and GDC. So far, more than 3,500 screens have been converted to digital under Cinedigm’s Phase 1 plan.
About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and distributor of filmed entertainment, is a unit of Viacom (NYSE: VIA, VIA.B), a leading content company with prominent and respected film, television and digital entertainment brands. The company's labels include Paramount Pictures, Paramount Vantage, Paramount Classics, MTV Films and Nickelodeon Movies. PPC operations also include Paramount Digital Entertainment, Paramount Famous Productions, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing Inc., Paramount Studio Group, and Worldwide Television Distribution.
[ 01-22-2009, 06:24 PM: Message edited by: Kevin Fairchild ]
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Julio Roberto
Jedi Master Film Handler
Posts: 938
From: Madrid, Madrid, Spain
Registered: Oct 2008
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posted 01-22-2009 11:31 PM
Thank you for posting that.
OMG, maybe they are finally listening. This could have a major impact in the amount of small theaters converted to digital now that distributors might start inking generic deals with independent exhibitors to participate in the investment of digital convertion.
I hope others follow soon and that UIP in Europe does the same.
If, i.e., Universal/Paramount, start offering a generic deal such as $1000 discount for each movie projected digital for 2 weeks instead of 35mm film for the next 5 years, many customers could start migrating one or two screens to digital and booking uip films in them exclusively (as long as there are enough).
When other distributors do the same, new digital screens could be added. Those that don't participate will get the sparkling 35mm backup projector treatment.
The equipment will be paying for itself with the VPF and, when the contract is over, the burden to replace/maintain will stay with the theater. But at least the transition would've been made.
Note that the industry itself is acknowledging that digital equipment will only last about 10 years before becoming too obsolete to maintain.
This is nothing new as, we all know, even relatively new "digital" simple machines like DTS decoders, SDDS, or even certain models of persistant Dolby have become hard to maintain/obsolete. Think QuVis, JVC, 1.3K DLP projectors, etc.
I repeat. Many manufacturers of digital cinema equipment themselves have stated in the past that expected life of equipment is 10-15 years tops. Forget the 20-30 years of old 35mm and (some) analog equipment.
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