Hollywood directors rally to save film factory
Movie directors including Quentin Tarantino and JJ Abrams are leading an attempt to save the last Kodak factory that manufactures physical film stock.
The digital revolution has led sales of movie film to drop by 96% since 2006.
Tarantino, Abrams and fellow directors Christopher Nolan and Judd Apatow have persuaded Hollywood studios to commit to placing long-term orders, according to the Wall Street Journal.
Kodak told the paper a deal should save the factory in Rochester, New York.
The studios have agreed preliminary orders with Kodak and are now "negotiating formal commitments", the Wall Street Journal reported.
While many film-makers have switched to digital equipment, some retain an affection for physical film.
Abrams, who is currently shooting Star Wars Episode VII on film, told the paper that the format "sets the standard for quality".
"There's something about film that is undeniably beautiful, undeniably organic and natural and real," he said.
"Film sets the standard and once it's no longer available, the ability to shoot the benchmark goes away."
Studios are expected to agree to order a set quantity of film per year for the next several years.
Bob Weinstein, co-chairman of Weinstein Co, said he had been lobbied by Quentin Tarantino.
"It's a financial commitment, no doubt about it," Weinstein said. "But I don't think we could look some of our film-makers in the eyes if we didn't do it."
Warner Bros chief executive Kevin Tsujihara said: "In an industry where we very rarely have unanimity, everyone has rallied around keeping film as an option for the foreseeable future."
Kodak is the only major company left producing motion-picture film, according to the Wall Street Journal.
Kodak spokesperson Louise Kehoe told The Hollywood Reporter the company is "very hopeful that an agreement will be put into place".