A team of big-name Hollywood directors — including Quentin Tarantino, Christopher Nolan, J.J. Abrams, and Judd Apatow — has reportedly succeeded in breathing new life into the faltering future of celluloid.

The group lobbied a number of Hollywood studio heads into striking a deal with Eastman Kodak to buy a quantity of film stock every year for the next several years, according to the Wall Street Journal.

Most television shows and feature films are now shot on digital video, resulting in a 96 per cent drop in motion picture film sales at Kodak.

Not only would the deal help save the future of traditional film, it would also save Kodak's factory in Rochester, N.Y.

'I don't think we could look some of our filmmakers in the eyes if we didn't do it.' - Bob Weinstein, speaking to the Wall Street Journal 

Bob Weinstein, the co-chairman of Weinstein Company, told the Wall Street Journal that he was personally approached by Tarantino to agree to the deal:

"It's a financial commitment, no doubt about it," Weinstein is reported as saying. “But I don't think we could look some of our filmmakers in the eyes if we didn't do it."

It's not clear when the deal will be formally announced, as Kodak is reportedly still hammering out commitments with executives at Warner Bros., Universal, Paramount and Disney.