Amidst layoffs, Steven Spielberg’s production company have signed a deal which will secure its financial future.
Steven Spielberg’s Amblin Partners has struck a fresh multi-year deal with Universal, according to
The Hollywood Reporter. What’s more, the agreement will see Universal co-finance Amblin projects, a significant shift from the previous arrangement where the studio only handled distribution.
The deal comes alongside the separate announcement that Amblin Partners is also letting go of around 20 percent of its workforce, meaning around 20 staff from marketing, international and post-production are leaving the company.
The latter news is an indication of the rockier economic climes that the screen industry is facing, and comes in the wake of other companies (such as Disney and Amazon) downsizing their operations. With that in mind, the new deal with Universal which will see the studio co-finance Amblin productions will ease the pressure on Amblin and hopefully allow the production company to take creative risks.
Spielberg has released a statement on the deal, saying “Universal is my ancestral studio home, and this next chapter in our longstanding partnership will provide Amblin with the creative flexibility and autonomy that I know will allow us to succeed together in the future … I’m eternally grateful to our entire team at Amblin for their work and dedication over the years, and also thankful to Donna [Langley] and everyone at Universal for their commitment and partnership, as we all look forward to our next adventure together.”
The director’s last film was 2022’s
The Fabelmans. He hasn’t yet announced what his next project will be but this deal will certainly give Spielberg and his company greater options, both creatively and financially. We’ll let you know when Amblin announce any projects in the future.
Image: BigStock
—
Thank you for visiting! If you’d like to support our attempts to make a non-clickbaity movie website:
Follow Film Stories on Twitter here, and on Facebook here.
Buy our Film Stories and Film Junior print magazines here.
Become a Patron here.
Related Stories
- Wolf Man | New trailer for Leigh Whannell’s horror
A new look at Blumhouse's upcoming creature feature Wolf Man gives us a longer look at a couple of scenes.
Leigh Whannell has dubbed his upcoming werewolf project for Blumhouse as a 'straight-up horror movie' and we're very much behind that idea. Whilst twisting the classic Wolfman tale in the direction of comedy or drama [...]
- Wicked review | A spellbinding musical adaptation
Director Jon M Chu’s musical adaptation features two incredible central performances and songs to die for. Here’s our Wicked review.
Before we get into the review itself, let’s address the elephant in the room. Yes, Jon M Chu’s Wicked is 160 minutes long and only covers half of the stage show despite being 20 minutes longer. [...]
- The top 45 must-see films of 2025
Looking ahead to 2025, here are the 45 films of all genres - from horror to comedy to drama and more - we reckon you really shouldn't miss.
Special mentions:
Firstly, the movies you won’t be seeing, but want to namecheck. Our rules were that we didn’t want to include films that had screened, but not made [...]
- The Substance would have been a very different film at Universal
Coralie Fargeat, the director of The Substance, has revealed that Universal sold the film after she refused to make changes to her final cut.
It's a story as old as Hollywood itself, but one that we'll no doubt hear again and again. Coralie Fargeat has revealed in an interview with French outlet Le Point (via World [...]
- Robert Pattinson set to join Christopher Nolan’s mystery film
Tenet and Batman star Robert Pattinson is collaborating with director Christopher Nolan again on the latter's latest mystery film.
If the marketing folks at Universal managed to make Oppenheimer, a three hour biopic about a scientist one of the must-see films of last year, then they might have raised the bar again this time, as we [...]
