BUSINESS

On with the show: Kodak deal with Hollywood studios ensures it will keep making movie film

02/05/2015 02:23 EST | Updated 04/07/2015 05:59 EDT
ROCHESTER, N.Y. - The Eastman Kodak Co. says it will continue to make motion picture film after reaching supply agreements with the major Hollywood studios.

The Rochester-based photography and film pioneer says it has been in talks with prominent filmmakers, studios, independent artists and production companies to keep movie film alive in the age of digital filmmaking.

The agreements announced late Wednesday call for Kodak to continue to supply motion picture film to 20th Century Fox, Walt Disney Co., Warner Bros. Entertainment, NBC Universal, Paramount Pictures and Sony Pictures. Without the pacts, Kodak was in danger of halting motion picture film production.

Kodak's motion picture film sales have fallen 96 per cent since 2006 and all film revenue is now less than 10 per cent of annual revenues.

Kodak's revenues today are primarily from commercial imaging.