Sony Pictures’ three-year, first-look deal with Fluent will focus on films with budget of up to $10 million
Sony Pictures and Fluent Entertainment have entered into a three-year, first-look agreement for the studio to distribute local-language films.
The movies would be produced by local producers in collaboration with Fluent, the partners said Thursday.
The two companies portrayed the pact as an opportunity for Sony to leverage its filmmaking know-how and distribution network while capitalizing on Fluent's knowledge of local markets and production partners.
"This deal comes at a time when the market share and revenues for local productions are on the rise in many key markets around the world," Fluent Entertainment CEO Clifford Werber said in a statement.
For Sony, it broadens the studio's reach. Sony has a deal with Monumental in Russia, but mostly focuses on co-production and co-financing deals on a market by market basis, according to an individual with knowledge of the studio. The company is currently working on co-production and co-financing deals in Germany and China, the individual said.
In the case of the Fluent deal, Sony will focus on finding moderately budgeted films that can be produced for up to $10 million and merit wide release, Werber told TheWrap.
Fluent's financing is being assembled from a combination of private equity, strategic and institutional investors, the company said.
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