Blockbuster, Weinsteins going steady
EmptyBrothers Bob and Harvey Weinstein are back in the video revenue-sharing game. The Weinstein Co. said Wednesday that it is giving Blockbuster exclusive video rental rights for three years to all of its theatrical and direct-to-video movies beginning Jan. 1 (HR 11/16).
The studio and the video rental chain will share rental revenue, much as the Weinsteins did during their days at Disney when many of the films they produced through Miramax Films were released directly to video.
In return for exclusivity, Blockbuster will pay the Weinstein Co. a minimum guarantee. For theatrical pictures, the guarantee will be based on boxoffice performance; for direct-to-video titles, the guarantee will be based on acquisition or production costs.