FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


         (x)      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 1997

                                       OR

         ( )      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

For the transition period from..............  to..............

Commission file number 0-17713

                         SILVER SCREEN PARTNERS IV, L.P.
                        (A Delaware Limited Partnership)
                  (Exact name of registrant as specified in its
                Certificate and Agreement of Limited Partnership)


Delaware                                                     06-1236433
----------------------------------------                     ----------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)
                                                     
c/o Chelsea Piers
Pier 62 - Suite 300
New York, New York                                            10011
----------------------------------------                     ----------
(Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code (212) 336-6700

Securities registered pursuant to Section 12(b) of the Act: NONE

Securities registered pursuant to Section 12(g) of the Act:

                      Units of Limited Partnership Interest

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months,  and (2) has been subject to such  requirements for the
past 90 days.

                                    YES   X           NO
                                        -----            -----



                                       1
<PAGE>


                          PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS.

     The financial information set forth below is set forth in the September 30,
1997 Third Quarter Report of Silver Screen Partners IV, L.P. (the "Partnership")
filed herewith as Exhibit 20 and is incorporated herein by reference.

               Balance  Sheets  --  September  30,  1997 and
               December 31, 1996.

               Statement of  Operations -- For the Three and
               Nine  Months  ended  September  30,  1997 and
               1996.

               Statements  of  Partners'  Equity  -- For the
               Nine Months ended  September 30, 1997 and the
               Year ended December 31, 1996.

               Statements  of Cash  Flows  -- For  the  Nine
               Months ended September 30, 1997 and 1996.

               Notes to Financial Statements.

     The financial  statements included herein are unaudited.  In the opinion of
the  management  of  the  Partnership,  all  adjustments  necessary  for a  fair
presentation of the results of operations have been included and all adjustments
are of a normal  recurring  nature.  The results of operations for the three and
nine months  ended  September  30, 1997 are not  necessarily  indicative  of the
results of operations which may be expected for the entire year.


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS.

     Results of Operations
     ---------------------

     Revenues  for the nine months and  quarter  ended  September  30, 1997 were
approximately   $9,891,000  and  $3,951,000   respectively,   as  compared  with
approximately  $78,573,000  and  $25,240,000,  respectively,  for the comparable
periods in 1996.  Revenues  for the first nine months and third  quarter of 1997
consisted  of income  from the Joint  Venture of  approximately  $9,700,000  and
$3,897,000  and interest  income of  approximately  $191,000 and $54,000,  while
those for the  comparable  periods in 1996  consisted  of income  from the Joint
Venture of  approximately  $76,425,000  and  $24,446,000  and interest income of
approximately   $2,148,000  and  $795,000.  Most  of  the  films  in  which  the
Partnership has an interest have been released in the theatrical, home video and
pay cable  markets and the final Revenue  Shortfall  payment was received in the
first quarter of 1997.  Accordingly,  income from the Joint Venture decreased by
approximately  $66,725,000.  Interest  rates  applicable  to  the  Partnership's
temporary  investments  for the first nine  months of 1997  ranged  from 4.8% to
5.57%,  while those for the comparable period in 1996 ranged from 4.7% to 5.79%.
The  decrease  in funds  available  for  investment  resulted  in a decrease  in
interest income of approximately $1,957,000.


                                       2
<PAGE>


     Expenses for the nine months ended  September  30, 1997 were  approximately
$387,000 as compared with approximately  $2,477,000 for the comparable period in
1996.  Interest  on  overhead  fees  payable  (at 10% per  annum)  decreased  by
approximately $1,689,000 in 1997, due to the fact that the overhead fee has been
drawn down in total by the Managing  General Partner.  The overall  reduction of
expenses in all expense  categories and the reduction of extraordinary  expenses
relating to preparations  for the  negotiation of the sale of the  Partnership's
interest in the Joint Venture were instrumental in the reduction of expenses.

     The  Partnership   generated  net  income  before  taxes  of  approximately
$9,504,000  for the nine months ended  September  30, 1997, as compared with net
income before taxes of  approximately  $76,096,000 for the comparable  period in
1996.  The decrease in net income is primarily  the result of a decrease in film
revenues  offset by a decrease in expenses as stated above.  The Partnership had
recorded $995,100 in unincorporated  business taxes resulting in a net income of
approximately  $75,101,000 in 1996. No additional  unincorporated business taxes
were reserved for in 1997 since the accrual from 1996 is adequate.

     The Partnership made  commitments to thirty-three  films, all of which have
been  completed and  released,  with total  budgets  amounting to  approximately
$599,000,000,  of which approximately $598,750,000 has been expended as of March
31, 1995. The Joint Venture Films are: "The Good Mother,"  released  November 4,
1988; "Beaches," released December 21, 1988; "Three Fugitives," released January
27,  1989;  "Disorganized  Crime,"  released  April 14,  1989;  "The Dead  Poets
Society," released June 2, 1989; "Turner and Hooch," released July 28, 1989; "An
Innocent Man," released October 6, 1989;  "Gross Anatomy,"  released October 20,
1989;  "The Little  Mermaid,"  released  November  15, 1989;  "Blaze,"  released
December 13, 1989;  "Where the Heart Is,"  released  February 23, 1990;  "Pretty
Woman," released March 23, 1990;  "Ernest Goes to Jail," released April 6, 1990;
"Spaced  Invaders,"  released  April 27, 1990;  "Dick Tracy,"  released June 15,
1990;  "Betsy's  Wedding,"  released  June 22, 1990;  "Taking Care of Business,"
released August 17, 1990; "Mr.  Destiny,"  released October 12, 1990;  "Rescuers
Down Under,"  released  November 16, 1990;  "White Fang,"  released  January 18,
1991; "Run," released February 1, 1991;  "Scenes From A Mall," released February
22, 1991;  "The Marrying Man," released April 5, 1991;  "Oscar,"  released April
26, 1991;  "One Good Cop," released May 3, 1991;  "Wild Hearts Can't Be Broken,"
released May 24, 1991;  "The  Rocketeer,"  released June 21, 1991; "The Doctor,"
released  July 24,  1991;  "V.I.  Warshawski,"  released  July 26,  1991;  "True
Identity,"  released August 23, 1991;  "Deceived,"  released September 27, 1991;
"Beauty  and the  Beast,"  released  November  15,  1991;  and  "Blame it on the
Bellboy," released February 28, 1992.


                                       3
<PAGE>


     During the quarter ended September 30, 1997, the  Partnership  made no cash
distributions to the Partners because  revenues  generated were  insufficient to
warrant a  distribution.  Although  all of the  Joint  Venture  Films  have been
released, the Partnership  anticipates that future revenues will be derived from
the re-release of "The Little Mermaid" and the sale of its interest in the Joint
Venture (see  Investment in Joint  Venture,  below) and that it will continue to
receive revenues and make quarterly cash  distributions in the future.  However,
revenues in  upcoming  quarters  may be  insufficient  to justify  making a cash
distribution in each of such quarters.


     Investment in Joint Venture
     ---------------------------

     Until  January 1, 1996,  the  investment in the Joint Venture was accounted
for using the  equity  method  of  accounting.  Under  the  equity  method,  the
investment  was  initially  recorded at cost,  and was  thereafter  increased by
additional  investments,  adjusted  by the  Partnership's  share  of  the  Joint
Venture's  results of operations and reduced by distributions  received from the
Joint  Venture.  The Joint  Venture's  fiscal year ends  September 30, while the
Partnership's fiscal year ends December 31.

     The  Partnership  entered  into the  Buyout  Agreement  with  Disney  dated
September 11, 1995 providing for the sale to Disney of all of the  Partnership's
interest in the Joint Venture.  The Buyout Agreement provides for the payment of
the purchase price of $330,000,000, in cash (subject to certain adjustments with
respect to revenues  received from the  exploitation of animated films.) Closing
is scheduled to occur on November  30, 1998 subject to  satisfaction  of certain
customary  conditions.  In addition to the purchase price,  the Buyout Agreement
provides that Buena Vista Pictures  Distribution,  Inc.  ("BV") will continue to
account  for  and  make  payments  to the  Joint  Venture,  as  required  by the
Distribution  Agreement,  for all  revenues  received by BV with  respect to the
Joint Venture Films through April 30, 1998.

     As a result of the Buyout  Agreement the  Partnership  began using the cost
method  of  accounting   starting  January  1,  1996.  Under  the  cost  method,
distributions  received are recognized as income and investments will be reduced
in the proportion that actual cash received bears to ultimate revenues expended.


     Liquidity and Capital Resources
     -------------------------------

     Inasmuch as the funding  obligations of the Partnership with respect to the
financing of the Joint Venture  Films have been fully  complied with or reserved
against,  the Partnership has no material  commitments for capital  expenditures
and does not intend to enter into any such commitments.  Receipts from temporary
investments and from the Joint Venture,  less reserves established as determined
by  the  Managing  General  Partner,  are  the  sources  of  liquidity  for  the
Partnership.  The Partnership has no material  requirements  for liquidity other
than its general and  administrative  expenses and  quarterly  distributions  to
holders of Units of limited partnership  interests.  Such sources are considered
adequate for such needs.

     Closing  under the  Buyout  Agreement  with  Disney is  scheduled  to occur
November 30, 1998. The Partnership  currently  expects to dissolve by the end of
1998 upon  disposition of its remaining  assets and  distribution of cash to the
Partners.


                                       4
<PAGE>


ITEM 3.  SELECTED FINANCIAL DATA.

<TABLE>
<CAPTION>

                                            SILVER SCREEN PARTNERS IV, L.P.
                                            --------------------------------

                                Three Months     Nine Months     Three Months     Nine Months
                                       Ended           Ended            Ended           Ended
                              Sept. 30, 1997  Sept. 30, 1997   Sept. 30, 1996  Sept. 30, 1996
                              --------------  ---------------  --------------  --------------
<S>                              <C>              <C>             <C>             <C>        
Revenues:
  Income from Joint Venture
  Interest income .........      $ 3,897,282      $ 9,699,589     $24,445,771     $76,425,463
                                      54,000          191,194         794,533       2,147,965
                                 -----------      -----------     -----------     -----------
                                 $ 3,951,282      $ 9,890,783     $24,240,304     $78,573,428
Costs and Expenses:                                                                          
  General and                                                                                
   administrative                                                                            
   expenses ...............          125,108          387,155        780,405       2,477,084
                                 -----------      -----------     -----------     -----------
  Income before taxes .....        3,826,174        9,503,628      24,459,899      76,096,344
  Unincorporated                                                                             
   business tax ...........              -                -           995,100         995,100 
                                 -----------      -----------     -----------     -----------
                                                                                             
Net income ................      $ 3,826,174      $ 9,503,628     $23,464,799     $75,101,244
                                 ===========      ===========     ===========     ===========
                                                                                             
Net income per a                                                                      
  $500 limited partnership                                                                   
  unit (based on 800,000                                                                     
  Units outstanding) ......      $      4.30      $     10.69     $     26.40     $     90.30
                                 ===========      ===========     ===========     ===========
                                                                                             
Cash distribution                                                                            
  per $500 limited                                                                           
  partnership unit ........      $       -        $      8.75     $     15.00     $     97.00
                                 ===========      ===========     ===========     ===========
                                                                              
                                                               
                                           Sept. 30, 1997                   Sept. 30, 1996
                                           --------------                   --------------
                                                               
Total assets ..............                  $ 78,207,691                     $129,373,174
                                            =============                    =============
                                                                
</TABLE>


                       See notes to financial statements.



                                       5
<PAGE>


                           PART II. OTHER INFORMATION


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

               (a)  Exhibits:

                    Exhibit 20 -- 1997 Third Quarter Report

               (b)  The  Partnership did not file any reports on Form 8-K during
                    the quarter ended September 30, 1997.




                                       6
<PAGE>





                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the  undersigned
thereunto duly authorized.


                                  SILVER  SCREEN  PARTNERS IV,  L.P.,
                                  a Delaware limited partnership

                                   By: Silver Screen Management Services,  Inc.,
                                       Managing General Partner


Date:  November __, 1997            By: /s/ Roland W. Betts
                                       --------------------------------
                                       Roland W. Betts, President




                                       7
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