Sony Pictures No Longer Distributing Columbia Releases in Argentina
BUENOS AIRES — Sony Pictures is pulling out of its distributing operation in Argentina after signing a sub-distribution deal with United International Pictures regarding all film material.
As of July 1st, UIP (which distributes films from both Universal and Paramount) will handle Columbia’s films in the country, including the upcoming The Amazing Spider-Man.
An official announcement was issued yesterday by Mauricio Duran, senior vp for distribution and marketing at Universal Pictures International for Latin America, Mark Viane, senior vp at Paramount Pictures International for Latin America and Asia and Steve Bruno, senior vp of international distribution at Sony Pictures Releasing.
“These types of alliances are necessary in a market with such challenges as this one. We-re very glad to bring the films of a studio like Sony Pictures to a great team like the one we have UIP Argentina", said Duran.
“We’re happy to begin working with UIP in this new stage for us in Argentina,” added Bruno.
According to the local website cinesargentinos.com, which broke the story yesterday, Columbia wasn’t having much success in the region and, except in cases like Smurfs or Men in Black, was releasing films as late as two months after their U.S. bow. The same report indicated that rumors about other major companies evaluating similar measures are circulating, although sources in the distribution sector downplay that possibility.
A similar situation occurred last year in Venezuela, when Paramount pulled out claiming the state’s currency restrictions had made it impossible for them to do business in the country. However, Columbia’s decision is said not to be connected with either Argentina’s overall economic situation or the fact that foreign companies are facing tighter regulations for transferring money back to their corporate headquarters.