This technical note looks at how movies reach audiences and how the deals behind them work. The first part explains the steps in distribution, such as theatrical release, premium video-on-demand (PVOD), pay-one and streaming windows, broadcast and free ad-supported TV, and merchandising and licensing. It also covers the economics of each stage, like exhibitor concession margins, PVOD revenue splits, and studio pay-one deals. The second part focuses on dealmaking, including advances; step deals; the sharing of rights among writers, producers, directors, and composers; and financing tools used to fill budget gaps, such as tax incentives, international presales, sales-agency deals, and negative-pickup deals. The note ends with a discussion of profit participation and portfolio risk, explaining why studios invest in a range of films.