Category: Movies

MUMBAI: US film studio Lionsgate has reported revenues of $1.36 billion and a net loss of $74 million for its fiscal year ended 31 March, 2008.

The company noted that revenue growth of 39 per cent from the prior year was driven by strong theatrical box office, increased home entertainment sales, growth in library revenues, continued strength in television production revenues and burgeoning digital revenues. The company reported $511.5 million in fourth quarter revenues, its best quarterly revenue performance.

The net loss was primarily attributable to increased theatrical distribution and marketing expenses in association with the planned growth of the company‘s motion picture slate. Theatrical distribution and marketing expenses of $326.3 million increased 118 per cent from $149.7 million in the previous year.

Lionsgate co-chairman and CEO Jon Feltheimer says, “Every division of the Company made contributions to our tremendous revenue growth, and they have positioned us for continued double-digit revenue growth in fiscal 2009.

“We continue to leverage our vast array of content for large niche audiences into a fast-growing channel business, digital distribution platforms and emerging international opportunities that, in addition to the continued successful operation of our existing core businesses, all set the foundation for long-term profitability and enhanced global recognition of the Lionsgate brand.”

The company reported that cash and cash equivalents grew to $371.6 million, its strongest cash position ever after three consecutive years of positive free cash flow in excess of $100 million. The company‘s filmed entertainment backlog also grew to a record $437.4 million at fiscal year-end.

Filmed entertainment backlog represents the amount of future revenue not yet recorded from the licensing of films and television product for television exhibition and in international markets.

Overall motion picture revenue for the year was a record $1.15 billion, an increase of 34.1 per cent from $858.2 million in fiscal 2007, including revenues generated by the September 2007 acquisition of Mandate Pictures. Within the motion picture segment, theatrical revenue was $191.7 million, an increase of 78 per cent from $107.9 million the previous year, propelled by a films like Saw 4, 3:10 To Yuma, The Bank Job and Rambo.

Lionsgate‘s home entertainment revenue was a record $623.5 million in the fiscal year, an 18 per cent increase from $528.3 million in fiscal 2007, reflecting strong sales of films like 3:10 To Yuma, Good Luck, Chuck, Saw 4, The Condemned and Happily N‘Ever After as well as the initial impact of BluRay high-definition disc sales. Another major catalyst for the home entertainment revenue performance was continued strong library sales as Lionsgate reported record catalogue revenues of $263.7 million in fiscal 2008.

Television revenue included in the motion picture segment was $115.9 million in the fiscal year, a 6 per cent increase from $109.3 million in fiscal 2007, led by titles such as Crank, Daddy‘s Little Girls, Employee of The Month, Saw III and The Descent.

Lionsgate also had the strongest international revenue performance in its history, reporting $158.7 million in international revenue in the fiscal year.

Television production revenue was $210.1 million in the fiscal year, an increase of 77 per cent from $118.5 million in fiscal 2007, driven by a mix of deliveries of episodes of in-house productions such as Mad Men (AMC) and Weeds Season 3 (Showtime) .

MUMBAI: The Telugu film industry has banned multilingual film actor Prakash Raj because of his “unprofessional attitude”.

The Telugu Film Producer‘s Council of Andhra Pradesh has issued an announcement stating that the council has decided not to use the actor’s services. The council has also requested producers and directors not to include him in Telugu films.

The industry has decided to ban Raj following the actor’s “irregularity in attending shootings”.

Earlier, the industry had tried to slap a ban on Raj but because of a section of film fraternity supporting him, the process got dismissed.

However, a coordination committee of Telugu Film Producers Council and Movie Artistes Association has now officially imposed the ban on the national award winning actor.

According to reports, the actor was unable to attend shoots on time because of which many Telugu films including Pawan Kalyan’s Jalsa and NTR‘s Kantri got delayed.

The decision was finally taken when the actor “did not honour” his commitment to report for the shooting of the movie Sidhu. The movie was held up for long and raised a controversy in 2006 as Prakash Raj refused to shave off his moustache for the film’s role. Since he was not reporting for shooting, the producer complained to the Telugu Film Producers Council.

MUMBAI: Bollywood film-maker Sanjay Gupta is set to adapt the book Vine of Desire into a film. The book is a sequel to the bestseller Sister of My Heart, written by Chitra Banerjee Divakaruni.

Gupta has roped in Pooja Bhatt to direct the film which will be made under the banner of White Feather Films. The movie, which is currently under the pre-production stage, will go on floors by the end of this year.

Also, with Vine of Desire, Gupta for the first time will be making a movie that is not a dark action packed thriller.

In Vine of Desire, the story revolves around the lives of two half sisters Anju and Sudha who, after years of living separately, meet in America far away from their hometown Kolkata. Anju and Sudha rekindle the sibling affection again and provide each other emotional forbearance.

MUMBAI: Cinema Systems magazine is set to start the eighth successive Cinema India Expo (CIE) on 5 June this year.

CIE, an international exhibition and a tradeshow on conventions for the motion picture industry, will be a three-day conference that will take a look at digital cinema technology, film production, cinema theatre equipment and multiplex design and solutions.

The expo, which ends on 7 June, will be held in the Bombay Exhibition Centre. Various players in the film technology industry including Kodak, Real Image, Adlabs Films, Lesna, Inc, Promedia and Cinechina will be present on the Cinema India exhibit floors.

MUMBAI: iDream Productions, which was lying low for almost three years after their home production Naina bombed at the box office, has swung back into action. The pipeline includes three low-budget films, out of which two are being co-produced.

Tahaan is a co-production with cinematographer Santosh Sivan who has also directed the film. Made on a budget of Rs 50 million, the film was screened at Cannes Film Festival. Extensively shot in the valley of Kashmir, it is about a young boy who wants to get back his donkey. The ensemble cast includes Anupam Kher, Sarika, Rahuk Khanna and Rahul Bose.

Straight also has a budget of Rs 50 million and has reached the post production stage. Directed by Parvati Balgopalan, it stars Vinay Pathak and Gul Panag. The story is based on Vinay’s life who realized that he’s gay in due course of time.

Khusar Prasad ka Bhoot, a village satire which has Paresh Rawal as its main lead, is co-produced with Red Eyes Production. Made on a budget of Rs 70 million, the film is directed by Gary Garewal and shot in Bhopal.

The three films will release by this year end, says iDream production CEO Ashish Bhatnagar.

iDream soon plans to do a sequel of its home grown project Jajantaram Mamantaram. “It will be on a much bigger scale. We are currently rolling it out,” avers Bhatnagar. The film had visual effects of about 64 minutes.

Sony Pictures, who has been distributing iDream films in the past, is likely to pick up the distribution of these three new movies.

iDream distributed Monsoon Wedding, Bollywood/Hollywood and Bend It Like Beckham in India. The production list includes children film Jajantaram Mamantaram, a political thriller 16 December and a mythological Agnivarsha. It has invested in international co-productions King of Bollywood and The Sick House, a British horror film which was recently released by New Line Cinema in North America.

iDream Independent Pictures Ltd (iDIP), iDream‘s sales agency, screened 14 films at Cannes this year. Some of these include Tahaan, Unforgettable, The Voyeurs, Hope, Vanage, Ocean of Pearls and Frozen. In the last 18 months, iDIP has screened seven films in 51 countries.

MUMBAI: PVR Ltd has been granted the cinema operating license for its new multiplex PVR Ambience situated at Ambience Mall, Gurgaon. The multiplex starts operating from 30 May.

The new multiplex will boast of two gold class and five main stream screens with 1194 seats. PVR Ambience will be complimenting the entertainment quotient of the mall that already consists of bowling alleys, food court and shopping junctures.

PVR Ambience will be a digital multiplex with 2K, DCI (Digital Computer Interface) Compliant Digital Cinema Screens. The new multiplex will have supreme leg rooms, moderate seat width, and high quality sound and projection system with a facility to exhibit 3D Movies.

With the new addition, the total number of screens in operation under the PVR Ltd label would go up to 97 at 24 locations across 13 cities in nine states.

MUMBAI: Universal Studio has acquired the distribution rights of Toonz Animation‘s feature film Mostly Ghostly. The film is based on the eight-book series by children‘s author R.L.Stine.

Made with a budget of $3.6 million, the movie is slated to release around 31 October.

Mostly Ghostly is directed by Rich Correll and produced by Yvonne Bernard, Arthur Cohen and Steve Stabler. Correll and Pat Proft have written the screenplay.

The story revolves around an 11-year-old recluse Max and about his efforts to protect the sibling ghosts – Nicky and Tara from the demon Phears.

Toonz Animation India CEO P Jayakumar said, “We are ecstatic at this deal which would complement our efforts to deliver innovative entertainment experience to audience across the globe. We are hopeful that Mostly Ghostly will be well received by children as well as adult alike.”

The film features Madison Pettis, Luke Benward, Maiara Walsh, Ali Lohan, Brian Stepanek, Kim Rhodes and introduces Noah Cyrus.

MUMBAI: PVR Pictures plans to release 20 films, both Bollywood and Hollywood, by the end of this year.

The company recently inked a distribution deal with US-based Focus Features for 13 Hollywood films which will be released in Indian theatres this year. Focus Features is the art house films division of NBC Universal‘s Universal Studios.

PVR acquired a good sum of films at Cannes in France this year. Around 12 films have been acquired from Focus Features. One of the deals have been struck with a distribution studio in Sydney, Australia and QED, Los Angeles, US.

PVR successfully distributed Dan In Real Life from Focus Features in May and Blindness opened at Cannes. Some of their forthcoming releases include In Brughes, Miss Pettigrew Lives For A Day, The Other Boleyn Girl, Be Kind Rewind, Burn After Reading, Strangers.

PVR Ltd director Sanjeev Bijli says, “We have acquired a collection of films at Cannes this year which includes big ticket projects.” It also includes a Mel Gibson starrer film. Bijli confirms the acquisition cost at around $350000 to $400000.

PVR has distributed big films like The Aviator, Chicago, Kill Bill, Finding Neverland.

On being asked about whether PVR plans to strike co-production deals with international studios, Bijli says the company doesn‘t feel there is the need for it. “We don’t see ourselves heading in that area. We want to explore the Indian scenario and there is a lot happening here.”

PVR‘s bouquet of Hindi films for distribution include Ghatotkach (released), Mere Baap Pehle Aap and Jaane Tu Ya Jaane Na. Contract, Mere Khwabon Main Jo Aaye are co-produced by PVR Pictures; PVR will also distribute them.

The Hindi films to be released this year have been acquired for a sum of Rs 300 million, says Bijli.

Amongst the Hindi lot, PVR has distributed Omkara, Don, Honeymoon Travels, Being Cyrus and Bheja Fry.

MUMBAI: Pyramid Saimira Theatre has posted a consolidated net profit of Rs 1.28 billion for the year ended 31 March, 2008.

During the year, the company’s total income stood at Rs 9.64 billion while net income from operations was at Rs 9.59 billion.

For FY‘08, Pyramid Saimira Theatre operational expense was Rs 8.74 billion with the total expense stood at Rs 7.80 billion.

Pyramid Saimira expanded from being a single company into a multi-company group during the fiscal. “Each of the companies is in an expansion path that required continuous funding arrangements in the form of debt or equity from various markets,” the company said in a release.

NEW DELHI: Mashhoor Amrohi, grandson of the legendary Kamal Amrohi of Pakeeza fame, is venturing into film acting and direction with Hum Sey Hai Jahaan.