Metro-Goldwyn-Mayer Inc. and Blockbuster Tuesday sealed a non-exclusive agreement for Blockbuster to make available selected
MGM films for digital streaming and downloading video via the Internet and
other home delivery technologies.
The arrangement between MGM and Blockbuster
is part of a new multi-year VHS revenue-sharing agreement that encompasses
both new films and library product.
“We are delighted to be able to partner with Blockbuster in new ways and
further capitalize on the extraordinary collection of MGM films, as well as
further leverage the powerful MGM brand,” said David Bishop, President of MGM
Home Entertainment.
“We are excited to be at the forefront of technology with
Blockbuster, as we forge new paths in the digital arena and significantly
enhance the movie-watching experience in the home. In addition, revenue
sharing has not only become beneficial to the industry, but it also has
helped effectively satisfy the incredible appetite of consumers.”
“This is an exciting announcement for movie lovers. Access to video streaming
rights for a portion of the world’s largest modern film library underscores
our goal as a company to provide quality, in-home entertainment, in whatever
form our consumers want it delivered, whether through our stores or other
channels such as electronic delivery. This agreement brings us one step
closer to accomplishing that goal,” said John Antioco, chief executive
officer for Blockbuster.
“As for the revenue sharing agreement with MGM,
which now encompasses a portion of the studio’s renowned classic library,
customers can be assured that more MGM films will be in stock at
Blockbuster.”