Six major Hollywood film studios have gotten together to help Kodak remain in the movie business.
Twentieth Century Fox, Paramount Pictures, Sony Pictures, Universal Pictures, Walt Disney Pictures and Warner Bros. have all signed deals on advance purchases of Kodak’s film stock, which will help keep the company’s production plants operational.
Kodak is the last company to make motion picture film, which some filmmakers prefer for aesthetic reasons.
“We were very close to the difficult decision of having to stop manufacturing film,” said Jeff Clarke, Kodak’s chief executive, according to the Wall Street Journal. “Now with the cooperation of major studios and filmmakers, we’ll be able to keep it going.”
Kodak has fallen on extraordinarily hard times during the past decade as more movie studios ditch traditional film formats for digital. From 2006 to 2014, Kodak’s motion-picture film sales nosedived by 96%.
[WSJ]
- Taylor Swift Is TIME's 2023 Person of the Year
- Meet the Nation Builders
- Why Cell Phone Reception Is Getting Worse
- Column: It's Time to Scrap the Abraham Accords
- Israeli Family Celebrates Release of Hostage Grandmother
- In a New Movie, Beyoncé Finds Freedom
- The Top 100 Photos of 2023
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
