IFC Entertainment and BLOCKBUSTER Sign Two-Year Exclusive Rental Deal
BLOCKBUSTER to be Exclusive Rental Outlet for IFC Entertainment's Titles Through Stores, Mail and VOD Download
NEW YORK, March 5 // PRNewswire-FirstCall // -- In a move designed to make independent films available to a wider audience, IFC Entertainment, a subsidiary of Rainbow Media Holdings LLC, and Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) today announced a two-year agreement that gives BLOCKBUSTER® the exclusive U.S. rental rights for IFC Entertainment's titles. The agreement enables IFC Entertainment to reach a broader audience for its films through Blockbuster's stores, by-mail subscription services and digital downloading service, Movielink.com.
Under the terms of the agreement, IFC and Blockbuster will share rental revenues from IFC titles. Blockbuster will have an exclusive 60-day rental window, including both the physical and digital rental distribution channels, for each title as it becomes available. During this period no title will be available on a retail basis in any format. After the 60-day period, the IFC titles will be available on a non-exclusive basis both for retail and digital distribution. However, Blockbuster will retain the exclusive physical rental distribution rights for IFC titles for three years after each street date.
In addition to carrying IFC titles in its stores nationwide, Blockbuster has installed special independent film sections in approximately 1,000 of its locations, which will include not only IFC titles but also independent movies from a variety of distributors. Blockbuster also plans to highlight IFC titles on blockbuster.com and on Movielink.
"We're delighted to join with BLOCKBUSTER as we continue our mission of making independent film available to the widest possible audience," said Lisa Schwartz, IFC's senior vice president of sales and business development. "Blockbuster's national store network combined with its by-mail and downloading services, made this a particularly appealing agreement for us because it gives millions of customers increased access to our movies."
"This agreement with IFC is a great opportunity for BLOCKBUSTER to provide our customers with convenient access to the best of independent film," said Keith Leopard, director, film product, Blockbuster Inc. "Whether it's through our stores, through the mail or through digital downloading, our customers will have access to some of the most exciting, thought-provoking films the indie filmmaking world has to offer. We look forward to working with IFC to dramatically expand our selection of independent titles and to being the exclusive rental outlet for films that otherwise might not have gotten exposure to such a broad audience."
Titles to be exclusively available for rental at BLOCKBUSTER include: Gus Van Sant's Paranoid Park, which opens theatrically on Friday, March 7th and was recently nominated for three Independent Spirit Awards including best picture and best director and won the Piaget Producers Award, which went to producer Neil Kopp; Tom Kalin's Savage Grace, which stars Julianne Moore and was screened at this year's Sundance Film Festival; Hannah Takes the Stairs, a critically-acclaimed film by Joe Swanberg that emerged as part of the Mumblecore movement; and Dans Paris, a French language film directed by Christophe Honore.
Genius Products, Inc. (OTC: GNPI) (BULLETIN BOARD: GNPI) , a leading independent home-entertainment distribution company, serves as the sales agent for IFC Entertainment.
ABOUT IFC ENTERTAINMENT
IFC Entertainment consists of IFC Films, a leading theatrical film distribution company bringing the best of independent films to theaters and to the on-demand platform, day and date, reaching over 45 million subscribers. The company's brick and mortar home, The IFC Center, features state-of-the-art cinemas with luxurious seating and high-definition digital and 35mm projection, located in the heart of New York City's West Village. Recent and upcoming IFC releases include: 2007 Palme d'Or winner 4 Months, 3 Weeks And 2 Days, which also received a Golden Globe nomination for Best Foreign Film; Gus Van Sant's award-winning Paranoid Park; Harmony Korine's Mister Lonley; Hou Hsiao Hsien's Flight of the Red Balloon starring Juliette Binoche; and Catherine Breillat's The Last Mistress starring Asia Argento. Other critically acclaimed films include Patrice Lecontes's My Best Friend, Susanne Bier's academy award nominated After the Wedding and Ken Loach's 2006 Palme d'Or winner The Wind that Shakes the Barley.
About Rainbow Media Holdings LLC
Rainbow Media Holdings LLC is a subsidiary of Cablevision Systems Corporation (NYSE: CVC). Rainbow Media is a leading producer of targeted, multi-platform content for global distribution, creating and managing some of the world's most compelling and dynamic entertainment brands, including AMC, IFC, WE tv, and VOOM HD Networks. Through its IFC Entertainment division, Rainbow Media also owns and manages the following: IFC Films, a theatrical feature film distribution company; IFC First Take/IFC in Theaters, a day and date theatrical feature film/VOD initiative; the IFC Center in New York City; IFC Productions, a feature film production company; and IFC Entertainment, which owns and operates a film library. Rainbow Media also operates Rainbow Advertising Sales Corporation, its advertising sales division, and Rainbow Network Communications, its full service network programming origination and distribution company.
Blockbuster Inc. (NYSE: BBI)(NYSE: BBI.B) is a leading global provider of in- home movie and game entertainment, with more than 7,800 stores throughout the Americas, Europe, Asia and Australia. The Company may be accessed worldwide at http://www.blockbuster.com/.
SOURCE: IFC Entertainment