Lionsgate and Newmarket sign home entertainment distribution agreement
HollywoodNews.com: LIONSGATE® (NYSE: LGF), the leading next generation studio and Exclusive Media Group’s (Exclusive) Newmarket Films, the highly regarded Los Angeles based film production and distribution company, have announced that they have entered into a home entertainment distribution deal including DVD, Blu-ray, digital delivery, TV and Video On Demand (VOD). Under the terms of the arrangement, Lionsgate will become the exclusive Home Entertainment distributor for all Newmarket Films theatrical releases in the United States in addition to a large majority of Newmarket’s extensive library of high profile releases including Christopher Nolan’s groundbreaking psychological thriller, Memento.
The first Home Entertainment release under the deal will be the recently released Jon Amiel’s Creation, about the life of Charles Darwin, starring Paul Bettany and Jennifer Connelly, which will be released on DVD, VOD and available for digital download on June 29th . The deal also includes the upcoming Newmarket theatrical releases Alejandro Amenábar’s Agora (May 28) , starring Rachel Weisz and Sundance favorite Hesher (Fall), starring Joseph Gordon Levitt and Natalie Portman. The announcement was made by Steve Beeks, Lionsgate President and Co-Chief Operating Officer Lionsgate and Chris Ball, Co-Chairman Exclusive and President of Newmarket Films.
“We are thrilled to be in business with Chris and his extraordinary team at Newmarket. I have known Chris for many years and have long admired how he has grown Newmarket into one of the top producers and distributors of independent film in the world,” said Beeks. “We are proud to have them as our partner and look forward to the opportunity to represent their films and release them on multiple formats.”
“Newmarket has had a great working relationship with Lionsgate and Steve Beeks for many years. This deal is the perfect partnership for our company as we continue to grow and expand our theatrical distribution business,” notes Ball.
The deal between Newmarket and Lionsgate gives the former a strong output deal for its recent and upcoming acquisitions and builds on Lionsgate’s tremendous success distributing some of the most prominent product in the marketplace.
Newmarket Films, founded in 1994 by Chris Ball and William Tyrer, was recently purchased by Exclusive Media Group where Ball is now Co-Chairman as well as President of Newmarket. The company is actively looking for new films and aims to theatrically release 6-8 director-driven titles per year. Lionsgate is the industry leader in box office-to-home entertainment revenue conversion rate, over-converting industry packaged norm by 20% and VOD norm by 18%. Recent theatrical titles Precious and Brothers exceeded industry averages both on DVD and VOD, and were Lionsgate’s #1 and #2 best VOD debuts to date.
The deal was negotiated by Ball, Rene Cogan (Exclusive’s CFO US Operations) and Gary Hirsh on behalf of Newmarket and by Wendy Jaffe, Executive Vice President, Business & Legal Affairs, Acquisitions & Co-Productions, on behalf of Lionsgate.