Monday, September 30, 2013

Find a need, and film it

The satellite operator struck a deal with start up movie studio A24 Inc. to partner with it in acquiring independent films in exchange for rights to offer them exclusively on its video-on-demand services 30 days before they hit theaters.
The deal brings an unlikely player from the pay-TV industry into the world of indie film financing. DirecTV is making an initial commitment of about $40 million to co-finance and market independent movies under the initiative. The first picture it acquired alongside A24 is "Enemy," a thriller with Jake Gyllenhaal.
The satellite-TV provider has previously obtained rights to show some movies on its VOD service before their theatrical release on a one-off basis, but this marks the first time it is investing directly in films.
That's entertainment!

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