Steven Spielberg’s Amblin Partners is strengthening its relationship with Universal Pictures.
Universal Pictures and Amblin announce a new multi-year agreement with Universal Pictures that will see Universal Studios co-finance Amblin films. The agreement provides Amblin with greater flexibility during challenging economic times. In the meantime, Spielberg will retain creative control.
Previously, Amblin would seek financing for his own films and then give Universal the opportunity to pay to distribute them. Spielberg has yet to announce which movie he plans to direct next. He ended up directing the Oscar-nominated The Fabermans , which was distributed by Universal Pictures.
“Universal is my ancestral studio home and the next chapter in our long-term partnership will provide Amblin with the creative flexibility and autonomy I know will allow us to Success together,” Spielberg said in a statement. “I am forever grateful to our entire team at Amblin for their work and dedication over the years, and to Donna (Langley) and everyone at Universal for their commitment and collaboration as we all look forward to our next adventure.”
Langley, Chairman and Chief Content Officer, NBCUniversal Studio Group, added: “We are excited to grow our relationship with Steven and build upon our creative legacy, which has led to so many iconic Universal Films from the past half century of the industry. Steven and the Amblin team have been fantastic partners and we look forward to the next chapter.”
According to insiders, thanks to the new agreement, Amblin will Make layoffs. These include layoffs and some contracts that are not being renewed. No further details were disclosed.
The Universal Pictures agreement does not affect Amblin’s separate TV deal with Netflix.