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Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images

Cinemark, one of the largest movie exhibitors in the U.S., and Universal, the movie studio owned by Comcast, have struck a deal to allow many Universal films to appear on premium video on-demand services after being made available in theaters for 17 days (three full weekends).

Why it matters: It's a significant departure from the traditional 90-day theatrical window. Cinemark follows AMC to become the second of the four biggest movie theater chains to strike this type of deal. The deals will likely usher a new era for streaming.

Details: Under the terms of the partnership, the window of exclusivity gets bigger for more expensive movies.

  • Any title that opens to $50 million or more, including many franchise titles, will play exclusively in theaters for at least five full weekends (31 days) before the title may become available on PVOD.
  • Cinemark will likely take some sort of a cut for every movie that's sold by the studio to premium on-demand streaming, in return for a shortened window.

Be smart: Insiders were waiting for this to happen after Universal and AMC, the largest theater chain in the U.S., struck an a similar multi-year deal in July.

The big picture: The coronavirus pandemic has accelerated a trend of studios pushing more movies to be made available for a premium rental price via a ticketed on-demand deal.

  • Most recently, Disney said last month it would be moving its holiday Pixar hit "Soul" to streaming exclusively.

The bottom line: Theater chains have been adamant that releasing movies on-demand at the same time they debut in theaters cannot become the new normal once the COVID-19 pandemic is over. But their years-long resistance to the idea is facing pressure as theaters remain closed due to social distancing guidelines.

Go deeper:

Go deeper

Felix Salmon, author of Capital
Jan 27, 2021 - Economy & Business

GameStop leads another day of nostalgia trading

Data: YCharts; Chart: Axios Visuals

The best-performing stocks this week are brands familiar to anyone who used to hang out in malls as a kid in the mid-2000s.

Why it matters: Some stocks — GameStop foremost among them — have been on fire to the point that U.S. Treasury Secretary Janet Yellen and the SEC are taking notice.

U.S. grants temporary protected status to thousands of Venezuelans

Venezuelan citizens participate in the vote for the popular consultation in December 2020, as part of a protest against Venezuelan President Nicolás Maduro in Doral, Florida. Photo: Chandan Khanna/AFP

Venezuelans living in the United States will be eligible to receive temporary protected status for 18 months, the Department of Homeland Security announced Monday.

Why it matters: Tens of thousands of Venezuelans have fled to the U.S. amid economic, political and social turmoil back home. Former President Trump, on his last full day in office, granted some protections to Venezuelans through the U.S. Deferred Enforced Departure program, but advocates and lawmakers said the move didn't go far enough.