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 March 31, 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.)
                                                     
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 March 31,
1997 First Quarter Report of Silver Screen Partners IV, L.P. (the "Partnership")
filed herewith as Exhibit 20 and is incorporated herein by reference.

         Balance  Sheets -- March 31,  1997 and  December  31,
         1996.

         Statement of Operations -- For the Three Months ended
         March 31, 1997 and 1996.

         Statements  of  Partners'  Equity  -- For  the  Three
         Months  ended  March  31,  1997  and the  Year  ended
         December 31, 1996.

         Statements  of Cash  Flows  -- For the  Three  Months
         ended March 31, 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 months
ended March 31, 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 three  months  ended  March 31,  1997 were  approximately
$4,986,000,  as compared with approximately $17,540,000 for the comparable three
months in 1996.  Revenues for the first three months of 1997 consisted of income
from the Joint  Venture  of  approximately  $4,904,000  and  interest  income of
approximately  $83,000,  while those for the comparable period in 1996 consisted
of income  from the Joint  Venture of  approximately  $16,971,000  and  interest
income of approximately $568,000. 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  this quarter.
Accordingly,   income  from  the  Joint  Venture   decreased  by   approximately
$12,067,000.  Interest rates for the first three months of 1997 ranged from 4.8%
to 5.5%,  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 $485,000.


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     Expenses  for the three  months  ended  March 31,  1997 were  approximately
$171,000 as compared with  approximately  $990,000 for the comparable  period in
1996.  Interest  on  overhead  fees  payable  (at 10% per  annum)  decreased  by
approximately  $551,000 in 1997,  due to the fact that the overhead fee has been
drawn down in total by the  Managing  General  Partner,  and expenses in general
decreased by $268,000.

     The Partnership  generated net income of  approximately  $4,815,000 for the
three months ended March 31, 1997, as compared with net income of  approximately
$16,550,000  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 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.

     During the  quarter  ended March 31,  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 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.


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

     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 through April 30, 1998.

     As a result  of the  Buyout  Agreement  the  Partnership  is 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 proportion that actual cash received bears to ultimate revenues expected.

     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.


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ITEM 3.  SELECTED FINANCIAL DATA.


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


                                                    Three Months    Three Months
                                                        Ended           Ended
                                                 March 31, 1997   March 31, 1996
                                                 --------------   --------------



Revenues                                                         
  Income from Joint                                              
    Venture (Note 2) ............................   $  4,903,755    $ 16,971,450
  Interest income ...............................         82,665         568,369
                                                    ------------    ------------
                                                       4,986,420      17,539,819
Expenses                                                                        
   General and administrative                                                   
     expenses ...................................        171,377         990,317
                                                    ------------    ------------
                                                                                
Net income ......................................   $  4,815,043    $ 16,549,502
                                                    ============    ============
Net income per a $500 limited                                                   
   partnership unit (based on                                                   
   800,000 Units outstanding) ...................   $       5.42    $      20.48
                                                    ============    ============
Cash distribution                                                               
   per $500 limited                                                             
   partnership unit .............................   $       0.00    $      15.00
                                                    ============    ============
                                                                                
                                                                                
                                                  March 31, 1997  March 31, 1996
                                                  --------------  --------------
                                                                                
Total assets ....................................   $ 81,338,786    $139,565,890
                                                    ============    ============
                                                                 


                       See notes to financial statements.


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                           PART II. OTHER INFORMATION


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

        (a)      Exhibits:

                 Exhibit 20  --  1997 First Quarter Report

        (b)      The Partnership did not file any reports on Form
                 8-K during the quarter ended March 31, 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:  May 15, 1997                By: /s/ Roland W. Betts
                                       --------------------------------
                                       Roland W. Betts, President










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