Globo TV inks U fare for Brazil's screens
Pact includes several $100 mil-plus blockbusters
Agreement includes several $100 million-plus blockbusters, such as "Jurassic Park III," "The Mummy Returns" and "Gladiator." Deal also includes telepics and series from U's small-screen 34,000-hour library.
Brazil is the 13th-most-lucrative terrestrial TV market for the seven Hollywood studios, bringing in $57 million from sales to terrestrial stations in 2001.
Annual income
Presuming that Universal accounts for roughly one-sixth of that total, the new deal is worth at best $10 million a year to the studio. (Motion Picture Assn. member company MGM does not produce the same number of feature films as its six sibling studios.)
Deal's value takes into account that U's film unit has been on a role in the last three years, but that on the negative side Brazil's economy has been worsening over the past year.
"This agreement with TV Globo provides an exceptional platform for our product in one of our most important markets," said Chris Philip, VP, Latin America, Universal television distribution.
Top-rated Globo covers 84% of the Brazilian territory.
