ITV

Category: Movies

  • Medusa Film relaunches as The Space Cinema

    MUMBAI: Medusa Film, the company that took over the Warner Bros cinema with Alessandro Benetton‘s 21 Investment has re-launched as The Space Cinema.


    The takeover in May boosted Medusa‘s chain by 150 screens bringing its total to 242 across 13 Italian regions, which makes it the leading chain with a 15% market share. It is predicted that it could account for 15 million to 16 million in annual ticket sales.


    Capitolo Settimo, led by by Giampaolo Letta (also Medusa Film‘s vice-president and CEO) controls the venture, of which 51 cent is owned by Benetton‘s 21 Investimenti and the remaining 49 per cent by Mediaset. Medusa is the film division of Italian Prime Minister Silvio Berlusconi‘s Fininvest group.


    Other leading multiplex exhibition group in Italy includes UCI Italia, which has 256 screens.

  • Cinemax Q2 net skids 45% to Rs 24 mn

    MUMBAI: Cinemax India Ltd. has had a steep second-quarter fall in net profit from the earlier year as revenue has rebounded but is yet to match the previous fiscal’s performance.


    The return of Bollywood content could not make up for the losses the multiplex chain operator incurred on account of swine flu, elections and closure of theatres in Hyderabad.


    Says Cinemax CFO Jitendra Mehta, “Our properties were closed for two-three days in Hyderabad due to the sudden demise of the chief minister. We were also hit by elections. And theatres were also closed for two-three days because of swine flu.”


    Cinemax’s consolidated net profit plunged 44.62 per cent to Rs 24.2 million in the three months ended September, compared to Rs 43.7 million in the year-ago period.


    Net revenue fell 10.04 per cent to Rs 403.9 million (from Rs 449 million). Expenses climbed marginally to Rs 381.4 million, as compared to Rs 378.5 million in the year-ago period.


    From the theatrical exhibition and entertainment business, the company suffered an operating loss of Rs 22 million as against an operating profit of Rs 16.3 million. Revenue from this segment jumped 12.38 per cent to Rs 351.2 million, from Rs 312.5 million a year ago.


    Cinemax also disclosed that as on 30 September 2009, promoters have pledged 45.16 per cent of their stake amounting to 8,514,500 shares, or 30.41 per cent of the company‘s total paid up capital.

  • PVR plans to invest Rs 1.3 billion, add 72 screens by FY’11

    MUMBAI: Delhi-based cinema exhibition major PVR plans to invest around Rs 1.3 billion and add 72 screens by FY‘11.


    PVR will be setting up 32 screens this fiscal and has a capex requirement of Rs 500-600 million. “We have not added any screen yet this fiscal. All the 32 screens will come up in the fiscal third and fourth quarter,” a source in the company says.


    PVR intends to invest Rs 600-700 million in FY‘11 and add 40 screens during the year, the source adds.


    PVR currently has 26 cinemas with a total of 108 screens spread over Delhi, Faridabad, Gurgaon, Ludhiana, Ghaziabad, Mumbai, Bangalore, Hyderabad, Lucknow, Indore, Aurangabad, Baroda and Latur.


    On the film production front, PVR will not have any releases this year. “The film distribution activity will speed up in the last two quarters. But we won‘t have any film releases this fiscal,” says the source.


    PVR has co-produced a string of hits including Taare Zameen Par, Jaane Tu Ya Jaane Na, Contract and Mere Khwabon Mein Jo Aaye and distributed films like Ghajini, Golmaal Returns, Dasvidaniya, Dil Kabbadi, Sarkar Raj, Bal Ganesh, Loins of Punjab, Breach, Hannibal Rising and Don.


    PVR is in negotiations to acquire DT Cinemas, a wholly owned subsidiary of DLF Group that runs 26 screens across five locations in NCR and one in Chandigarh.


    PVR expects to post strong growth in the next two quarters as big-budget movies are set for release and the market is in recovery stage, the source says.

  • WWI presents first ‘Open Forum’ at 11th Mumbai Film Festival

    MUMBAI: : Whistling Woods International Institute for Film Television, Animation and Media Arts, in association with Mumbai Academy of the Moving Image (MAMI), presented the first ‘Open Forum‘ in what is to be a week-long series of panel discussions at the Mumbai Film Festival 2009 today.


    Speaking on the art of writing for film in the new age of cinema were lyricist and screenwriter Prasoon Joshi, London-based film historian and filmmaker Sangeeta Datta, screenwriter Atul Tiwari, lyricist and screenwriter Victor Acharya, writer and director Vinay Shukla and Reliance Big Entertainment Chairman Amit Khanna.


    The discussions ranged from the comparison of screenwriting and literature, the need for script analysts and better story-pitching platforms and the positive new trend of strong scripts boosting smaller films like Welcome to Sajjanpur, A Wednesday and Aamir.


    The forum was well-attended by festival delegates who had a chance to pose questions to the panelists in the second half of the session.  


    Panelists of the forum include Ashutosh Gowariker, Rajen Kothari, Abhishek Kapoor, James Mimikos, Sarah McKenzie, Aruna Vasudev, Irene Bignardi, Shyam Benegal, Shekhar Kapur and Uma DaCunha.


    Whistling Woods International & Mumbai Academy of the Moving Image conceived Open Forum as a platform that brings forth stimulating discussion on a variety of topics amongst professional panelists drawn from every aspect of filmmaking.


    Panel discussion topics for the coming days include The Importance of Craft in Cinema, Film Production for World Markets, Emerging Asia, New Perspectives & Challenges in Media Education, and Indian Cinema Today.

  • Edko Films opens China’s first art house cinema

    MUMBAI: Broadway Cinema, the cinema management brand of Hong Kong‘s Edko Films, has opened its first art house cinema in China named Broadway Cinematheque MOMA in Beijing‘s MOMA residential compound.


    The cinema will serve as a new distribution platform for European cinema and art house films in China. However its first major event was the Beijing premiere of Michael Jackson‘s This Is It.


    Broadway Cinematheque MOMA has three screens and 401 seats with both film and digital screening facilities. MOMA is a residential compound in central Beijing with shopping, restaurants and other facilities.


    The cinema is now seeking independent and specialty films from China and abroad.


    China‘s film import regulations allow around 20 smaller films – usually European, Asian and US independent titles – to be imported each year on a flat-fee basis.


    Currently, the cinema is co-hosting The 2nd European Union Film Festival in China showing three of the 26 films in the showcase namely Women‘s Conspiracy (2007) by Greek filmmaker Vassilis Vafeas, Sweden‘s Evil (2003) by Mikael H?fström and Flood (2008) by Tony Mitchell.

  • Jacko film earns $20 million on day 1

    MUMBAI: As fans around the globe thronged theatres showing Michael Jackson‘s film This Is It, the film earned $20.1 million at the box-offices all around on its first day in theatres.
    The film, which shows the late pop star rehearsing for a series of comeback concerts before his death in June this year made $7.4 million in the United States and Canada and another $12.7 million internationally.


    Says Columbia Pictures spokesman Steve Elzer said in a statement, “The studio believes that the worldwide launch, with very strong performance across North America, Europe, Latin America and Asia, represents an amazing beginning for the film and a reaffirmation of the global appeal of Michael Jackson.” 


    This Is It premiered on Tuesday night and then began playing around the world on Wednesday, which is unusual for a movie that is not based on a major franchise like the Harry Potter or Pirates of the Caribbean.


    In the United Kingdom, box-offices raked in under $2 million, while French sales totaled about $1.4 million and Germany just over $1 million. Japanese fans spent roughly $1.2 million and in China the film fetched $730,000.


    The question now for Columbia is how well the movie will perform during the upcoming, first weekend. Jackson‘s fans were expected to turn out in droves early, but whether they will be repeat customers remains to be seen.


    Columbia has said the movie will be extended beyond its planned two-week run if ticket demand is high. The studio plans a DVD release in 2010.

  • Sony inks print fee agreement with Overture Films

    MUMBAI: Sony Electronics‘ Digital Cinema Solutions and Services Group (DCSS) has finalised a virtual print fee agreement with Overture Films.


    Under this arrangement, Overture will release its titles in digital format for playback in US theatres equipped with Sony 4K projection systems.


    The agreement marks the latest alliance for the Sony DCSS group with a motion picture distributor, following recent announcements with Walt Disney Studios, Twentieth Century Fox, Paramount Pictures and Sony Pictures Entertainment.


    Said Overture Films executive vice president, theatrical distribution Kyle Davies, ” The Sony digital cinema team has the right resources in place to give exhibitors the strongest foundation for digital cinema,”.


    Overture‘s first film under this new agreement is the box-office hit Law Abiding Citizen about a brilliant sociopath seeking revenge for his wife and daughter‘s murder.


    Released nationwide 16 October, the film stars Jamie Foxx and Gerard Butler. Up next on 6 November is The Men Who Stare at Goats, a quirky dark comedy that follows the U.S. Military‘s attempts to harness paranormal abilities to combat its enemies. The film stars George Clooney, Ewan McGregor, Kevin Spacey and Jeff Bridges.
     

  • David Glasser to look after foreign sales of The Film Department

    MUMBAI: Following the departure of Steve Bickel, Weinstein Company (TWC) international chief David Glasser has taken over foreign sales of Mark Gill and Neil Sacker‘s The Film Department.
    The parties had been negotiating the deal for some time and the ongoing arrangement will kick off at American Film Market (AFM), giving The Film Department access to TWC‘s network of international buyers while broadening the latter‘s sales roster.


    Glasser will initiate talks with buyers about the Kate Hudson romantic comedy Earthbound that is scheduled to start shooting in January and complete the remaining territory sales of Law Abiding Citizen with Gerard Butler and Jamie Foxx that has grossed more than $43m in North America through Overture Films.


    The Film Department co-founders Gill and Sacker will continue to finance, develop and produce content as they see fit and did not comment on the circumstances of former international president Bickel‘s departure.


    Glasser is a natural fit to take charge of international sales given that he previously worked with Sacker when he was Bob Yari‘s international sales chief and Sacker was Yari Film Group COO. “I love the guys at The Film Department and this is a perfect fit,” Glasser added.

  • PVR Q2 net up 27% as exhibition biz picks up

    MUMBAI: Multiplex companies are bouncing back after a dismal first quarter performance due to the strike that halted fresh Bollywood content for two months. Delhi-based PVR Ltd. posted a 27.52 per cent jump in its second-quarter net profit over the earlier year, showing growth signs in the exhibition business while it remained almost idle in film production.


    The movie exhibition major, which had suffered losses in the first quarter because of a standoff between producers and plex owners, posted a consolidated net profit of Rs 64.4 million for the three months ended September, as against Rs 50.5 million a year ago.


    PVR‘s total income fell 15.11 per cent in the quarter to Rs 922.2 million (from Rs 1.09 billion), mainly because of less activity in its movie production and distribution segment.


    Total expenses in the quarter fell to Rs 806 million, while Ebitda at Rs 192.5 million was up 18.61 per cent from the earlier-year period.


    PVR Ltd CMD Ajay Bijli commented, “The first quarter of the current financial year had been challenging on account of lack of movie content for more than 65 days due to strike between producers/distributors and exhibitors. The business was back to normal in this quarter.”


    Occupancies in the fiscal second quarter averaged at around 33 per cent as compared to a dismal 20 per cent in the trailing quarter. Average ticket price increased to Rs 145, from Rs 132 in the previous quarter.


    “On back of various operating initiatives taken by the management to improve revenues and rationalise costs, we have been able to achieve an Ebitda margin of 21 per cent during the quarter as compared to 15 per cent in corresponding period of last year. Overall, we see the consumer sentiments really buoyant towards movie going and on back of line up of films that are releasing in next few quarters we remain highly positive about the long-term prospects of the leisure and entertainment industry,” Bijli added.


    In the segment wise result, the exhibition business revenues increased to Rs 876 million during the quarter under review, as against Rs 829.8 million. The operating profit zoomed up to Rs 127.7 million, from Rs 92 million.


    The PVR Pictures business (movie production and distribution) was slow as there was no major movie distributed/released by the company. The revenue from the segment dropped to Rs 12.3 million, compared to Rs 302.5 million. The operating loss from the segment stood at Rs 19.9 million, as against Rs 1.3 million a year ago.


    From the bowling alleys business, the company got a revenue of Rs 35.3 million and profit of Rs 8.4 million.


    PVR has 108 screens and 27,890 seats spread across 14 cities.

  • Amitabh Bachchan to voice in Priyadarshan’s first animation film

    MUMBAI: : Amitabh Bachchan will lend his voice for the feature-length animated film, Twinergy, to be directed by Priyadarshan. The film is being jointly produced by AB Corporation and Toonz India.


    The film, based on the universal theme of good and evil, is a Rs 200 million project and Priyadarshan‘s first animation venture.


    The film revolves around the twin brothers of a magical kingdom with Bachchan‘s character finally saving their world from evil.


    A royal family, united by love but divided by misunderstanding, adopt the twins Dhruva and Vajra into their fold. United by their powers and benevolence, they become divided due to machinations of a greedy and power hungry uncle.


    In the end, the twins realise that energy is more than power and when properly balanced it binds everyone together.


    The pre-production work of the project is currently going on in Toonz studio and the film is expected to release during Diwali next year.


    For Toonz India, this film is also a part of its 10th anniversary projects.