The UK outfit says it has no intention of closing its theatrical distribution arm, despite redundancies.
UK distribution outfit Metrodome has issued a statement asserting that it has no intention of closing its theatrical distribution arm.
The move comes amid speculation about Metrodome’s long-term commitment to theatrical distribution prompted by changes at the company in recent weeks. The company recently confirmed that it would be scaling back its theatrical distribution operation and that staff would be facing some redundancies.
Earlier this month, Sara Frain announced that she was withdrawing from her position as General Manager at Metrodome. Her move followed the news that Peter Urie was stepping down as company CEO to concentrate on his production activities.
“Metrodome would like to clarify that, contrary to these rumours; the company remains an all rights distributor and will continue to provide its industry expertise to maximize revenues for producers of film and television content across all distribution platforms,” today’s statement proclaims.
In the wake of the UK box-office success of I Am Love starring Tilda Swinton, which openeded strongly in British cinemas, racking up over £163,000 over its opening weekend, the company was striking a bullish note about future prospects.
“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,” CEO of Metrodome Distribution Mark Webster commented.
The company aims to increase its 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. Metrodome will also look to increase distribution of TV content which represents 30% of total Home Entertainment market.
Meanwhile, the company has confirmed it is actively looking at a number of M&A deals to diversify into TV all rights distribution.
Forthcoming UK theatrical releases include the 2009 Venice Film Festival Golden Lion winner Lebanon (May 2010), Leaving starring Kristin Scott Thomas (June 2010) and the Argentinean film The Secret in their Eyes (Aug 2010) which won the 2010 Best Foreign Language Oscar.