Lionsgate expands film distribution in Latin America
Gabriel Miramar-Garcia | 25-09-2012
Studio powerhouse Lionsgate is finding new film distribution in Latin America with a deal with IDC in that region.
The studio is leveraging its January 2012 acquisition of Twilight-owning Summit Entertainment, which owns part of IDC in a joint venture with NuVision founder Pedro Rodriguez. IDC has been distributing Summit titles in Latin America since 2005.
"As we continue to build our distribution network around the world, we're customizing different approaches to the different territories in which we operate," said Lionsgate Co-chairs Patrick Wachsberger and Rob Friedman, in a joint statement. "In Latin America we are building upon Summit's longstanding venture with Pedro Rodriguez and his team at IDC, who have unparalleled expertise in the region. IDC's results for our Summit titles in the past have been outstanding and the quality of its distribution first class. By adding our own Lionsgate films and expanding our partnership with IDC, we believe that we can replicate the success we have achieved through self-distribution in the United Kingdom."
Lionsgate's feature film business has been fueled by recent successes as the blockbuster first installment of The Hunger Games franchise, which has already grossed nearly $700 million at the worldwide box office, The Possession, The Expendables 2, The Cabin in the Woods, Tyler Perry's Madea's Witness Protection and Margin Call. With the January 2012 acquisition of Summit Entertainment, the company has now added the blockbuster Twilight Saga, which has grossed more than $2.5 billion at the worldwide box office. Other Summit hits include Red, Letters to Juliet, Knowing and the Hurt Locker.
Lionsgate International Television will meanwhile handle the sale of television, video on demand (VOD) and electronic sell-through (EST) rights for Lionsgate, Summit and third-party products throughout Latin America.