Universal charges as much as $25 to rent a film for 48 hours and $30 to buy it during its premium V.O.D. sales period. Those prices can drop to $6 and $20 in the later, traditional sales window.
About 80 percent of premium V.O.D. revenue goes to Universal, with sales platforms like iTunes and Google Play keeping most of the rest. (A small cut goes to theater chains like AMC Entertainment — grease to get them to agree to reduced exclusivity.) Ticket sales are typically split 50-50 with theaters.
Premium V.O.D. revenue is small compared with box-office sales. But it’s certainly not nothing.
“The Super Mario Bros. Movie” has generated more than $75 million in premium V.O.D. revenue since May 16, Universal said. “Jurassic World: Dominion,” “The Croods: A New Age” and “Sing 2” each collected more than $50 million. Universal said 14 films, including “News of the World,” a period drama starring Tom Hanks, and “M3gan,” each had more than $25 million.
Films from Focus, including “Belfast” and “Mrs. Harris Goes to Paris,” have generated roughly $5 million each. For some art films, a theatrical release has become valuable mostly as “a marketing tool” for premium V.O.D. rentals and purchases, according to Julia Alexander, the director of strategy at Parrot Analytics, a research firm.
The studio often decides that 17 days (three weekends) of theatrical exclusivity is enough. Sometimes, based on ticket sales, it allows for longer. “The Super Mario Bros. Movie” played exclusively in theaters for 41 days.
“We have also taken back control of the decision of when to make our content available in the home, based on the most optimal timing for an individual film,” Mr. Levinsohn said. NBCUniversal said in January that revenue from its studios (both film and TV) increased 23 percent in 2022 from a year earlier, to $11.6 billion.