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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.

4 mins ago - World

Barbados becomes a republic, replacing U.K. queen with president

Combination images of Dame Sandra Mason, president of Barbados, and Britain's Prince Charles at her swearing-in ceremony in Bridgetown, Barbados, late Monday.

Barbados officially became a republic at midnight local time after Dame Sandra Mason was sworn in as the Caribbean nation's first president in a ceremony attended by the United Kingdom's Prince Charles.

Why it matters: Mason replaced Britain's Queen Elizabeth as head of state Tuesday — removing the country's final remaining colonial tie to the U.K. almost 400 years after the first British ships arrived in Barbados.

Right-wingers making McCarthy sweat for future Speaker post

House Minority Leader Kevin McCarthy stands with his Republican colleagues outside the House on Nov. 17. Photo: Stefani Reynolds/Bloomberg via Getty Images

Right-wing elements in the Republican Party are complicating House Minority Leader Kevin McCarthy's attempts to become the next speaker of the House should the GOP take back the majority in 2022.

Why it matters: While McCarthy has worked carefully to build trust among the conservatives who tanked his chances at clinching the speakership in 2015, they're still circling ahead of the next Speaker vote in January 2023.