The streaming platform Filmin has reached an agreement with the production and distribution company Elastica, whereby it will integrate the latter's distribution business, as both parties communicated this Friday.
The pact, described as an alliance "unprecedented in the Spanish audiovisual sector, is to consolidate a benchmark company in the national industry with international ambition," is part of the vertical integration trend that is gaining ground in European independent cinema and reinforces Filmin's strategy of supporting theatrical exhibition.
The CEO and founder of Filmin, Juan Carlos Tous, has emphasized that the company has always conceived streaming as "a complement to theatrical distribution" and has defended cinemas as the natural starting point for films.
"This agreement with Elastica, with whom we share vision and values, consolidates our position in the market and will allow us to take care of the best cinema from the red carpet to internet-connected devices," Tous stated when assessing the operation.
For his part, the founder of Elastica, Enrique Costa, has highlighted that both companies share "innovation and criteria" and has defined Filmin as a benchmark among streaming platforms, with which it shares dedication and passion for cinema.
The understanding between the two companies is limited exclusively to Elastica's acquisitions and distribution activities. Both will continue to operate independently and maintain their brands, without the agreement altering other commitments, present or future, that they have with different sector agents.
"We are complementary companies and we share the idea that cinema makes us better as people and as a society. It is a natural step that recognizes the synergy that both companies have in understanding how to best deliver quality cinema to viewers," they state from both companies.