ITV

Category: Movies

  • Shemaroo revives acquisitions for home video, eyes Rs 1.4 bn in FY’10

    MUMBAI: Shemaroo Entertainment has revived its Hindi movie acquisitions for the home video market and is targeting a revenue of Rs 1.40 billion this fiscal.A berserk rise in costs had kept the oldest active home video player out of the ring last year as Moser Baer and Reliance ADAG‘s Big Music & Home Entertainment accumulated movies at an aggressive pace.

    “The acquisition price has dropped by 30-40 per cent this year. Besides, the DVD prices have stabilised at a feasible level,” says Shemaroo Entertainment director Hiren Gada.

    Shemaroo has acquired rights for eight movies this year including Slumdog Millionaire, winner of eight Oscar awards, and Chandni Chowk to China.


    On the production front, the company has lined up one live action and two animation movies.


    Driven by high costs, Shemaroo had scaled down its turnover in FY‘09 which skid to Rs 1.10 billion from Rs 1.42 billion in FY‘08.

    “We wanted to scale up our production business last year, but the prices were too high. The Bollywood industry is still carrying high-cost inventory in its pipeline. We have a few projects this year, but will have to wait a bit more longer to have a wider slate,” says Gada.

    Shemaroo is also building up a World Cinema catalogue and has acquired 100 movies. It has tied up with UTV for distributing its World Cinema titles on home video. “We have released 30 of our own collections. The task is to release the balance movies along with the UTV titles before we do more fresh acquisitions,” says Gada.

    The World Cinema business is still at a nascent stage in India but could turn profitable down the road. “It is a premium niche category. The price point is good and it raises our home video presence,” says Gada.


  • HDIL to pump in Rs 5 billion to expand multiplex biz

    MUMBAI: After acquiring a majority stake in Sri Adhikari Bros‘ Broadcast Initiative Ltd, Housing Development & Infrastructure Ltd (HDIL) is now building up its multiplex business.

    The company, which has two TV channels Live India (Hindi news) and Mi Marathi (Marathi entertainment channel) under its belt, is planning to invest Rs 4.5 – 5 billion to roll out 150 screens over the next five years. HDIL operates its multiplex chain under the brand Broadway.


    Says HDIL entertainment division CEO Mukesh Gupta, “Currently HDIL owns seven operational screens. We plan to set up a property in Bhandup with six screens in the next two months. We will also be setting up a four-screen property in Goregaon sometime in September-October.”


    HDIL has already bought two properties in Pune where it will build three screens each. It will also build a five screen property in Gurgaon and a three screen property in Hyderabad.


    “So far, we have already invested Rs 300-350 million in our multiplex project,” Gupta adds.


    The real estate company‘s first theatre was launched in Vasai followed by the second property in Kandivali. HDIL is also planning to roll out a four-screen property at Andheri, Mumbai.

  • Al Jazeera to present series of pirates in Somalia


    MUMBAI: Al Jazeera English has gained exclusive access into Somalia‘s pirate-driven region of Puntland to present a new five part series which goes behind the scenes to uncover piracy in Somalia.


    With exclusive access, Al Jazeera English‘s Mohammed Adow brings to light an in-depth story of this ever-growing issue shattering some of the myths to portray a unique picture of piracy.


    In the series, Lawless Seas, Al Jazeera brings diverse sides to this story to discover not only what piracy is today, but also why so many are continuing to join this booming industry.


    With interviews from the pirates themselves, to a community divided on this issue, political, religious and clan elders who are fighting against piracy, Mohammed Adow learns the inner workings of the pirates operation, the networks involved and the men making Somalia‘s waters the most dangerous on Earth.


    Al Jazeera English also brings tales from Eyl, a well-known pirate‘s hideout and Somalia‘s modern-day pirate capital, a story of a boom resulting from the lucrative trade that piracy has become in this far-flung corner of Somalia.


    Exploring further, Al Jazeera speaks to families of dead pirates, some being held in as far away places as New York in the US where they are facing charges. With exclusive pictures of ships and crew being held hostage, Al Jazeera‘s Lawless Seas brings to its audience unprecedented coverage of the thriving business of piracy.


    This 5-part series can be watched from Monday to Friday 19 June at 07GMT every day.


    Half-hour specials on piracy accompanying this series will be played at the following transmission times: Wednesday, 17 June – 1430, Thursday, 18 June – 0630 and 2330, Friday, 19 June – 1630, Saturday, 20 June – 1930, Sunday, 21 June – 0030 and 1130, Monday, 22 June – 0300, Tuesday, 23 June – 1230.

  • NY indie film studio launches film company

    MUMBAI: At a time when film companies are facing a slowdown because of recession, two New York financiers have launched an independent film company to make and sell low-budget movies.

    Mary Dickinson and Charlene Fisher unveiled DF Indie Studios last Friday to eventually produce 10-12 films annually with a production cost of $10 million or less. They plan to guarantee distribution in the U.S. and Canada backed by what they say is $150 million in equity financing.


    DF Indie Studios (DFIS) has the support of big-name movie makers such as brothers Tony and Ridley Scott (Gladiator) and independent film veterans Ted Hope and Anne Carey. (Adventureland and In the Bedroom).


    “We‘ve been amazed to see the competitors in our budget range have pretty much disappeared,” Dickinson told Reuters.


    “That‘s why we‘re excited about this time period,” added Fisher. “We see it working in our favour.”


    Dickinson and Fisher plan to usher low-budget movies from script through production, editing, marketing and distribution, and they believe they are entering the market for art house flicks at a low-point after many studio players fell on hard times starting in late 2007.


    Many independent film producers making contemporary art house films like Oscar winner Slumdog Millionaire hope to sell their distribution rights at festivals like Sundance. But DF Indie Studios vows to self-distribute movies they produce.


    Currently many of the specialty divisions of major studios, such as Twentieth Century Fox‘s Fox Searchlight or Universal Pictures‘ Focus Features and even major independent companies like Lions Gate, routinely crank out films at a cost of $15 million to $30 million and more.


    But with a production cost of less than $10 million, DF Indie Studios hopes to hit it big with movies more in the vein of a Napoleon Dynamite which was a festival favourite before hitting mainstream success.

  • Stereo Vision in a 3-picture distribution deal with Capitol Films

    MUMBAI: Stereo Vision Entertainment, Inc. a film production company focused exclusively on producing high-quality, low-cost, polarised 3D feature films has announced that it has received a two year extension from Capitol Films on its three-picture distribution deal, effective immediately.

    Stereo Vision‘s CEO, Jack Honour, stated, “We greatly appreciate Capitol Films continued confidence in Stereo Vision going forward. They understand the time intensive nature of the movie business, and their worldwide distribution clout is a key component in our film financing model. We‘re hard at work on our exciting slate of feature films, and we‘re looking forward to a long and prosperous relationship with Capitol Films.”

  • Harrison Ford’s Hollywood fortune

    MUMBAI: Harrison Ford is Hollywood‘s highest paid actor after earning ?43.3 million over the last 12 months. The 66-year-old star made the staggering sum after starring in Indiana Jones and the Kingdom of the Crystal Skull – which took ?500 million worldwide at the box-office.

    Ford – who had only appeared in four movies since 2000 before agreeing to reprise the famous role for a fourth time – was paid the figure between June 2008 and June 2009 as part of a deal that saw studio Paramount give the veteran star, director Steven Spielberg and producer George Lucas a percentage of the film‘s earnings.


    Other stars to make the list, compiled by business bible Forbes magazine, include Adam Sandler, who came second after raking in ?36.6 million, Will Smith, who finished third with ?30 million, and fourth placed Eddie Murphy, who earned ?26.6 million. Rounding off the top five was Nicolas Cage who was paid ?26.6 million in the last 12 months.

  • Point.360 purchases Hollywood facility

    MUMBAI: PRNewswire-FirstCall, a leading provider of integrated media management services, today announced that it had purchased for $4.75 million an 18,000 square foot building in Hollywood into which the Company will consolidate its Highland Ave. and Eden FX operations.

    Haig S. Bagerdjian, the Company‘s Chairman, President and Chief Executive Officer said, “The purchase of the building fixes our facility costs for these operations for the foreseeable future. We will avoid the need to negotiate long lease arrangements in the expensive Hollywood market as well as improve our annual EBITDA and cash flow by approximately $0.6 million each. We financed $1.2 million of the purchase price with a 10-year mortgage which provides for interest only payments at 7 per cent a year with the principal being due on the tenth anniversary date.”


    Bagerdjian continued, “The new location will provide operational efficiencies by combining our two Hollywood locations which now occupy approximately 39,000 square feet. We expect the renovations to the building and move into the new location to be completed in the fourth calendar quarter at a cost of $1 to $1.5 million.”

  • Mounting expenses dent bottom line of Inox and Cinemax

    MUMBAI: The profitability of multiplexes is being clobbered by rising expenditure as content cost is on the upswing and there is pressure to scale up screens.

    Indiantelevision.com looks at two multiplexes to elucidate this reality. Both Inox and Cinemax have announced their fiscal results and the common thread that we find is a dent in the bottom line.


    While Inox Leisure Ltd. has seen a gradual rise in annual revenues, profit margins have gradually eroded. Although expenses have increased in all sectors of the business, the chief contributors include film distributors‘ share (at Rs 530 million); property rent and conduction fees (at Rs 264.3 million) and entertainment tax (at Rs 284 million). The corresponding expenditure in these areas last year stood at Rs 449.6 million, Rs 187.7 million and Rs 215.7 million respectively. Inox has also increased its screen tally from 84 to 91 for the year.


    The problem area is also on the revenue side, which has slowed down substantially in FY‘09.


    A look at the financial figures of Inox reflects the actual picture of a multiplex that is beginning to feel the pinch of a slowdown. The table below shows the numbers from FY‘06 to FY‘09.







    INOX financial figures (in Rs millions)


























     
    FY‘06
    FY‘07
    FY‘08
    FY‘09
    Total Income
    1,090.81
    1,624.80
    2,178.30
    2,278.80
    Expenditure
    711.09
    1,170.30
    1,660.60
    1,908.60
    Operating Profit
    379.72
    454.5
    517.7
    370.2

    The graph below indicates how rising expenditure has eaten into the profits of the company.




    Inox is not the only multiplex plagued by rising costs. Cinemax reflects a similar story, though its revenue is also on the upside.


    As can be seen from the table and graph below, there is a stark difference in expenditure incurred in FY‘08 and FY‘09. Profit margins have really been compressed.








    Cinemax financial figures (in Rs millions)






















     
    FY‘07
    FY‘08
    FY‘09
    Net income from operations
    933.1
    1016.2
    1446.1
    Expenditure
    733.4
    826.8
    1325.5
    Profit before tax
    172.9
    201.2
    151.7



    Ambitious expansion plans by Cinemax may be one of the reasons for the steep rise in expenditure. The number of screens increased from 52 in the last fiscal year to 74 this year, which means an addition of 22 screens in the last year.


    Profitably of Cinemax has headed south. The graph below shows how expenditure in the year ending 31 March 2009 towers above the corresponding values of the previous year. Although this has been accompanied by an increase in revenues, profits have taken a hit. Other than the first quarter, the profits in FY‘09 have been lower than their counterparts the previous year across all quarters.



    It remains to be seen how the new revenue share deal with the film producers and distributors is going to affect these two multiplexes. That, however, is not going to prove a hurdle for Inox‘s and Cinemax‘s growth plans. Cinemax, for instance, is planning to pump in between Rs 800 million and Rs 1 billion to roll out 50 screens in the current fiscal.

  • ‘Jodhaa Akbar’ tops honours at IIFA

    MUMBAI: Ashutosh Gowariker‘s Jodhaa Akbar took home eleven awards at the tenth IIFA (International Indian Film Academy) Awards, held at Macau.

    While the film won the best picture award, Ashutosh Gowarikar was awarded the best director. Hrithik Roshan bagged the best actor award.


    Other categories that featured Jodhaa Akbar wins were AR Rahman for best music director and Javed Akhtar and Javed Ali for best lyrics and best playback singer (male) respectively for Jashan-e-Baharaa.


    Madhur Bhandarkar‘s Fashion won Priyanka Chopra the best actress award while Kangana Ranawat won the award for best supporting actor (female) for the same.


    Arjun Rampal came out victorious for best male performance in a supporting role for Rock On.


    Meanwhile, IIFA brand ambassador Amitabh Bachchan presented the Lifetime Achievement Award to Rajesh Khanna with whom he worked in a couple of notable films like Anand and Namak Haram.


    Abhishek Bachchan won the award for best performance in a comic role for Dostana while Akshaye Khanna won for best performance in a negative role for Race. Neeraj Pandey‘s A Wednesday won the award for best story.


    The ‘Male Star of the Decade‘ award went to Shah Rukh Khan while Aishwarya Rai Bachchan won in the female category. The star debut of the year was awarded to Asin and Farhan Akhtar.


    The IIFA and Green Globe Foundation presented an award to Rahul Bose for his contribution to creating awareness on global warming.


    Category Winners


    Best Background Score Award: AR Rahman (Jodhaa Akbar)
    Best Dialogue: Mano Rishil (Oye Lucky)
    Best Editing: Ballu Saluja (Jodhaa Akbar)
    Best Art Direction: Nitin Chandrakant Desai (Jodhaa Akbar)
    Best Costume Award: Neeta Lulla (Jodha Akbar)
    Best Make-up: Madhav Kadam (Jodhaa Akbar)
    Best Picture: (Jodhaa Akbar)
    Best Screenplay: Neerai Pandey (A Wednesday)
    Best Story: Neeraj Pandey – (A Wednesday)
    Lyrics: Javed Akhtar – Jashan-e-Baharaa (Jodhaa Akbar)
    Music Direction: AR Rahman – (Jodhaa Akbar)
    Performance in a Comic Role: Abhishek Bachchan – (Dostana)
    Performance in a Negative Role: Akshaye Khanna – (Race)
    Playback Singer (Female): Shreya Ghoshal – Teri Ore (Singh Is King)
    Playback Singer (Male): Javed Ali – Jashan-e-Baharaa (Jodhaa Akbar)
    Best Sound re-editing: Leslie Fernandes (Race)
    Sound Recording: Resul Pookutty & Amrit (Ghajini)
    Best Action: Peter Steins & Stun Siva (Ghajini)
    Special Effects Awards: Ghajini
    Sounding Recording Award: Rock On!!
    IDEA Style ICON Award (Female): Bipasha Basu
    IDEA Style Icon Award (Male): Hrithik Roshan
    Debutant Star Female Award: Asin – Ghajini
    Debutant Star Male Award: Farhan Akhtar – Rock On
    Best Director Ashutosh: Gowariker – Jodhaa Akbar
    Performance in a Supporting Role (Female): Kangana Ranawat – (Fashion)
    Performance in a Supporting Role (Male): Arjun Rampal – (Rock On !!)
    Performance in a Leading Role (Female): Priyanka Chopra – (Fashion)
    Performance in a Leading Role (Male): Hrithik Roshan – (Jodhaa Akbar)
    Videocon Music of Decade Award: AR Rahman
    Videocon Star of Decade (Female): Aishwarya Rai Bachchan
    Videocon Star of Decade (Male): Shahrukh Khan
    Videocon Movie of the Decade: Lagaan
    Videocon Director of Decade Award: Rakesh Roshan

  • ‘Terminator’ stays on top overseas


    MUMBAI: A No. 1 Japan opening for the fourth title in the sci-fi action series, Salvation which has played overseas since May 27 generated $10.7 million from 729 sites. The film‘s China bow registered $9 million from 1,671 locations. In all, Salvation took the No. 1 spot in more than 30 territories.


    Salvation‘s international cume stands at $165.5 million, of which $141.1 million originates from territories handled by Sony. During its second weekend in the U.K., the film finished No. 2 with $3.4 million from 875 locations. In France, its second weekend produced $2.8 million from 737 locations. The overseas weekend was moderate overall, with torrid temperatures in many European markets complicating box-office action.


    Finishing second was Fox‘s Night at the Museum: Battle of the Smithsonian, which took the No. 1 spot in its Mexico bow (grabbing a 38 per cent market share with $3.3 million from 1,150 sites) and ranked first during its second Korea round ($6.9 million from 446 screens). Overall, the family comedy, starring Ben Stiller, drew $17.9 million from 8,156 sites in 104 markets, raising its international cume to $176.2 million (vs. $143.4 domestic).


    In third position was Sony‘s Angels & Demons which grossed $14.1 million from 7,110 screens for an overseas cume of $315 million. In Germany, The Da Vinci Code follow-up, starring Tom Hanks, finished No. 1 during its fifth stanza with $2.9 million from 1,041 screens for a market cume of $39.9 million.


    Hangover finished No. 4 on the weekend with $11.6 million from more than 1,350 screens in 15 markets. The comedy‘s No. 1 U.K. opening produced $5.2 million, including previews, from 424 screens. A No. 1 bow in Australia generated $2.7 million from 226 sites. The film opens Wednesday in Belgium and Friday in Italy.


    At No. 5 on the weekend was Pixar/Disney‘s Up, which continued its graduated foreign rollout by grossing $8.2 million from 2,243 locales in 14 territories.


    Also out of the top five overseas was Universal‘s family comedy/fantasy Land of the Lost that ranked No. 5 during its second weekend domestically. The Will Ferrell vehicle opened at 670 sites in five markets for an offshore tally of $3.1 million. A No. 3 bow in Australia produced $1.3 million from 194 screens, and a No. 2 debut in Russia generated $1.4 million from 100 locations.