Are all movies going digital? Not yet!
The Eastman Kodak Co. will continue to make motion picture film in the age of digital filmmaking. The company has reached new supply agreements with the major Hollywood studios.
The Rochester, N.Y.-based photography and film pioneer had been in talks to keep movie film alive. Film sales had fallen 96 percent since 2006.
The agreements call for Kodak to continue to supply motion picture film. The company will supply it to 20th Century Fox, Walt Disney Co., Warner Bros. Entertainment, NBC Universal, Paramount Pictures and Sony Pictures. Without the pacts, production of motion picture film was in danger of being halted. Kodak first began producing the film in 1896.
Competitor Fujifilm stopped production of movie film in 2013.
"Film has long been and will remain a vital part of our culture," Kodak Chief Executive Jeff Clarke said in a statement.
Three of this year's eight best-picture Oscar nominees were shot on Kodak film, Kodak spokesman Christopher Veronda said. Those films are "Boyhood," ''The Grand Budapest Hotel," and "The Imitation Game."
Several movies due out this year are being produced on Kodak film. They include "Mission: Impossible 5" and "Star Wars: Episode VII The Force Awakens."
Kodak was founded by George Eastman in 1880. Kodak is credited with popularizing photography at the start of the 20th century. But its revenues today are primarily from commercial imaging. Film now provides less than 10 percent of company revenues.
Critical thinking challenge: What specifics do you think Kodak needs in its agreements with movie studios in order to continue making movie film?