Limited release
Limited release is a term in the American motion picture industry describing the marketing strategy of playing a new film in only a select few theaters across the country, typically in major metropolitan markets.
A limited release is often used to gauge the appeal of specialty films, like documentaries, independent films and art films. A common practice by film studios is to give highly anticipated and critically acclaimed films a limited release on or before December 31 in Los Angeles in order to qualify for an Academy Award nomination (as set by Academy rules). These films are almost always released to a wider audience in January or February of the following year. (One notable exception is the longest-running theatrical release in film history, The Rocky Horror Picture Show, which premiered in 1975 and is still only shown in limited fashion.)
Platform release
A platform release is a type of limited release strategy, whereby a film opens in fewer theaters (typically 1,000 or less) than a wide release. If the film receives positive word of mouth, then it is gradually expanded to more theaters as the marketing campaign gains momentum. A successful film released in this manner even has the possibility of expanding into a wide release. The advantage of this strategy is that marketing costs are conserved until a film's performance has been established, at which point the distributor may opt to increase advertising and push for a wider release. On the other hand, if it initially flops, then the distributor can withdraw from the campaign, thus minimizing advertising and promotional expenditures.