MOSCOW. (Russian Film Business Today) – Central Partnership Grouð and Paramount Pictures International have signed an agreement according to which starting with January 1, 2009 Central Partnership will become the exclusive distributor of Paramount Pictures International product in the countries of the former U.S.S.R., except for Ukraine and the Baltic States. The agreement between the Russian and the Hollywood studios also provides for joint production of films in Russia for the local market, with international distribution by Paramount in certain cases. Furthermore, Paramount Pictures International will act as partner in international distribution of Central Partnership’s major projects.
This is the first such transaction between the independent Russian company and a major American studio – one which in recent years has reliably occupied one of the top spots in U.S. film distribution. In 2008, according to the most recent results, Paramount is in second place among U.S. distributors ($1,217.6 million, 17.5% of the market), and based on 2007 year-end results it was first ($1,499.3 million, 15.5% of the market).
“Cooperation with a leading Hollywood studio is a fundamentally important stage in the development of the company,” said Central Partnership’s General Director Ruben Dishdishyan. “The agreement will allow us to expand our portfolio with Paramount’s high-quality films and strengthen our standing in Russia and CIS film distribution together. This cooperation offers both our companies new co-production opportunities and it contributes to the advance of Russian cinema on the international market.”
“This is a step change for Paramount in one of the fastest growing and most exciting markets internationally,” said Andrew Cripps, President of Paramount Pictures international. “Central Partnership has positioned itself as one of the most impressive players locally in both distribution and production. We are very proud to be associated with them and look forward to continuing to grow and expand Paramount’s presence in Russia.”
It is noteworthy that Paramount Pictures Corporation (PPC) is involved in production and distribution of films and is a subdivision of the Viacom conglomerate – a leading company, which owns such world-famous brands in film, television and digital entertainment content as Paramount Pictures, Paramount Vantage, Paramount Classics, MTV films, Nickelodeon Movies and DreamWorks Studios. PPC’s production vector also includes the companies Paramount Digital Entertainment, Paramount Famous Productions, Paramount Home Entertainment, Paramount Pictures International, Paramount Licensing inc., Paramount Studio Group and Worldwide Television Distribution.
Central Partnership Group was founded in 1996 and consists of the Central Partnership television and film production company, the independent distributor Central Partnership Sales House, and the Internet portal video24.ru. The Group owns one of the largest archives of distribution rights in Russia, including over 1,400 feature length films and 4,000 hours of serials. According to 2007 year-end results, Central Partnership was the first independent distributor to become one of the top three leaders in Russian film distribution. Central Partnership’s films grossed $85.09 million in cinemas in Russia and the CIS (not including Ukraine), which is 154.5% more than the company made in 2006.
