×
You will be redirected back to your article in seconds

CinemaNow gets MS, B’bust, Kipco for coin

Second round of financing funds co. for next 3 years

Online independent film distributor CinemaNow.com has inked a seven-figure deal with Microsoft and series A investors Blockbuster and Kipco.

Investment is the first Microsoft has made in the Netco.

The second round of financing will fund the company for the next three years while it continues to focus on its primary objectives of building its distribution platform and gathering content, CinemaNow chairman Mark Amin told Daily Variety.

“At the end of the day, these two elements will be how we differentiate ourselves,” Amin said. “From the encoding to the storing to the streaming, we want to be the best distribution system for independent film. And the only way to have a respectable profit margin is to have your own content.”

Benefits to Microsoft and Blockbuster

Both Microsoft and Blockbuster will benefit from partnering with a company that understands “successful revenue models and consumer behavior” of streaming films online, Amin said. “This business is a huge learning process.”

CinemaNow controls exclusive Internet distribution rights to more than 800 films from the Lions Gate, Trimark Pictures, Avalanche, Allied Artists, Tai Seng and Salvation film libraries. Site streams 200 feature films and uses Microsoft’s Windows Player and digital rights management.

“Rather than trying to compete for eyeballs like everyone else, we’ve concentrated on building a platform for connecting all the various hardware and software pieces it takes to stream a movie and collect the fee,” CinemaNow CEO Curt Marvis said. “I think our investors and partners saw that we were ahead of the competition.”

CinemaNow is majority owned by Lions Gate Entertainment through its recent acquisition of Trimark Pictures. The company officially launched its Web site last December and recently debuted its pay-per-view service. CinemaNow plans to bow a subscription model for its films in the next three months.

More Film

  • Fox Searchlight logo

    Film News Roundup: Fox Searchlight Launches Searchlight Shorts

    In today’s film news roundup, Fox Searchlight starts a shorts channel, Uma Thurman signs with ICM and Miramax signs animation exec Michael Lachance. SEARCHLIGHT SHORTS Fox Searchlight Pictures’ chairmen Nancy Utley and Stephen Gilula have announced the launch of “Searchlight Shorts” as a collection of short films. The shorts are available on Fox Searchlight’s YouTube [...]

  • ImMature - cr: MX Player

    Indian Streamers Ramp up Original Productions

    Ever since global streaming giants Amazon Prime Video and Netflix entered the Indian OTT space in 2016, the conversation around original series has mostly revolved around them, thanks in part to market leader 21st Century Fox’s Hotstar’s circumspect attitude at the time about producing content. Netflix had great success with “Sacred Games,” while Amazon rode [...]

  • WGA Agents Contract Tug of War

    Hollywood Agents, Writers Guild Make Little Progress in Talks

    Leaders of Hollywood agencies and the Writers Guild of America made little progress in Tuesday meeting to negotiate proposed rule revisions to how agents represent writers. The WGA said after the meeting — the fifth since Feb. 5 — that talks would resume later this week but did not give a specific day. “The Agencies [...]

  • Village Rockstars

    Female Filmmakers Are a Growing Voice in India

    The Indian film industry has historically been a male-dominated one, but the winds of change are blowing across the country, albeit slowly. Better-served than the rest of the country is the Mumbai-based Hindi-language industry, where there are several active female filmmakers including Zoya Akhtar (“Gully Boy”), Reema Kagti (“Gold”), Leena Yadav (“Rajma Chawal”), Gauri Shinde [...]

  • Florence Pugh

    Scarlett Johansson's 'Black Widow' Movie Adds Florence Pugh

    “Black Widow’s” web may soon be growing. Sources tell Variety that Florence Pugh is in talks to join Scarlett Johansson’s standalone superhero film. Pugh has been on the hot list for this second lead role since last fall, but Marvel wanted to open up the field to other actresses at the beginning of the year. [...]

  • Mira Lesmana Sets up Indonesia Remake

    Mira Lesmana Sets Up Indonesian Remake of CJ's 'Sunny'

    Indonesia’s Miles Film and Korea’s CJ Entertainment are to co-produce an Indonesian remake of Korean hit “Sunny.” The film is a female-driven dramedy about a group of adult friends who reunite 20 years after high school. Directed by Kang Hyoung-chul, “Sunny” was one of the highest-grossing movies in Korea when it was released in 2011. [...]

More From Our Brands

Access exclusive content