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 June 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
                                        -----            -----



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                          PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS.

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

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

          Statements  of  Operations  -- For the Three and Six Months ended June
          30, 1997 and 1996.

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

          Statements of Cash Flows -- For the Six Months ended June 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
six months ended June 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  six  months  and  quarter  ended  June  30,  1997  were
approximately   $5,940,000   and  $953,000,   respectively,   as  compared  with
approximately  $53,333,000  and  $35,793,000,  respectively,  for the comparable
periods in 1996. Revenues for the first six months and quarter of 1997 consisted
of income from the Joint Venture of  approximately  $5,802,000  and $899,000 and
interest  income of  approximately  $137,000  and  $55,000,  while those for the
comparable  periods  in 1996  consisted  of  income  from the Joint  Venture  of
approximately  $51,980,000 and $35,008,000 and interest income of  approximately
$1,353,000  and  $785,000.  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



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$46,178,000. Interest rates for the first six months of 1997 ranged from 4.9% 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 $1,216,000.

     Expenses for the six months ended June 30, 1997 were approximately $262,000
as compared with  approximately  $1,697,000 for the  comparable  period in 1996.
Interest on overhead fees payable (at 10% per annum)  decreased by approximately
$1,110,000 in 1997, due to the fact that the overhead fee had been drawn down in
total by the Managing  General  Partner,  and  expenses in general  decreased by
$325,000.

     The Partnership  generated net income of  approximately  $5,677,000 for the
six months ended June 30,  1997,  as compared  with net income of  approximately
$51,636,000 for the comparable period in 1996. The decrease in net income is the
result of a decrease in film revenues offset by a decrease in expenses as stated
above.

     The Partnership has  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.



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<PAGE>



     During  the  quarter  ended  June  30,  1997,  the  Partnership  made  cash
distributions  of $7,777,778 to the Partners.  Although all of the Joint Venture
Films have been released, the Partnership  anticipates that future revenues will
be derived from 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.


     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, 1996 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  is using the cost
method  of  accounting   starting  January  1,  1997.  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



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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.

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<PAGE>



ITEM 3.  SELECTED FINANCIAL DATA.

<TABLE>
<CAPTION>
                                            SILVER SCREEN PARTNERS IV, L.P.
                                            --------------------------------

                                Three Months     Six Months   Three Months     Six Months
                                       Ended          Ended          Ended          Ended
                               June 30, 1997  June 30, 1997  June 30, 1996  June 30, 1996
                               -------------  -------------  -------------  -------------
<S>                             <C>            <C>             <C>           <C>  
                                                           
Revenues:                                                   
  Income from Joint Venture      $   898,552   $  5,802,307    $35,008,242   $ 51,979,692
  Interest income .........           54,529        137,194        785,063      1,353,432
                               -------------  -------------  -------------  -------------
                                 $   953,081   $  5,939,501    $35,793,305   $ 53,333,124
Costs and Expenses:                                                                      
  General and                                                                            
   administrative                                                                        
   expenses ...............           90,670        262,047        706,362      1,696,679
                               -------------  -------------  -------------  -------------
                                                                                         
Net income ................      $   862,411   $  5,677,454    $35,086,943   $ 51,636,445
                               =============  =============  =============  =============
                                                                                         
Net income per $500                                                                      
  limited partnership                                                                    
  unit (based on 800,000                                                                 
  Units outstanding) ......      $      0.97   $       6.39    $     43.42   $      63.90
                               =============  =============  =============  =============
                                                                                         
Cash distribution                                                                        
  per $500 limited                                                                       
  partnership unit ........      $      8.75   $       8.75    $     30.00   $      45.00
                               =============  =============  =============  =============
                                                                          
                                             
                                              June 30, 1997                 June 30, 1996
                                              -------------                 -------------
                                             
Total assets ..............                    $ 74,354,405                  $150,884,175
                                              =============                 =============
                                                              
</TABLE>

 

                       See notes to financial statements.


                                       6
<PAGE>



                           PART II. OTHER INFORMATION


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

               (a)  Exhibits:

                    Exhibit 20 -- 1997 Second Quarter Report

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


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                                   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:  August 14, 1997              By: /s/ Roland W. Betts
                                       --------------------------------
                                       Roland W. Betts, President


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