U.K.'s Metrodome scales back activities
Following departure of CEO, theatrical general managerLONDON -- U.K. independent Metrodome Distribution said Wednesday it is significantly reducing its theatrical movie distribution endeavors whilst at the same time re-iterating a desire to keep its toe in the market.
The British distributor, listed here on the AIM stock exchange, said it "remains an all rights distributor" and aims to operate "across all distribution platforms."
It also took the opportunity to inform sales outfits and producers alike that it plans to "move towards a more commercially focused slate of theatrical releases scaled in accordance with market conditions."
The strategic shake up comes on the back of last month's resignation of Metrodome CEO Peter Urie who exited to pursue personal producer ambitions and the departure of theatrical distribution general manager Sara Frain. Urie leaves with a retainer with Metrodome.
The release slate includes "I Am Love," Venice Film Festival Golden Lion winner "Lebanon" and the foreign language Oscar winner "The Secret in Their Eyes" amongst others.
Metrodome Distributrion CEO Mark Webster said: "Metrodome will continue to be an all rights distributor -- including theatrical releases -- and part of this strategy includes re-focusing on releasing content that will generate increased revenue across all platforms. Recent staff changes have been a result of this change of focus, and we are now moving forwards as a company."
Metrodome will increase its resources towards direct investment into co productions such as "Age of Heroes" and "Curse of the Dragon" in return for distribution rights and profit share on worldwide distribution significantly increasing potential upside.
Metrodome will also look to increase distribution of TV content which represents 30% of total home entertainment market and said it aims to achieve this via an M&A deal.
No further details were available at time of going to press.