ITV

Category: Film Production

  • ‘Spider-Man’ swings back to Marvel in partnership with Sony Pictures

    ‘Spider-Man’ swings back to Marvel in partnership with Sony Pictures

    MUMBAI: Sony Pictures Entertainment is bringing Marvel Studios into the amazing world of Spider-Man.

     

    Under the deal, the new Spider-Man will first appear in a Marvel film from Marvel’s Cinematic Universe (MCU). Sony Pictures will thereafter release the next installment of its $4 billion Spider-Man franchise, on 28 July, 2017, in a film that will be co-produced by Kevin Feige and his expert team at Marvel and Amy Pascal, who oversaw the franchise launch for the studio 13 years ago. Together, they will collaborate on a new creative direction for the web slinger. Sony Pictures will continue to finance, distribute, own and have final creative control of the Spider-Man films.

     

    Marvel and Sony Pictures are also exploring opportunities to integrate characters from the MCU into future Spider-Man films.

     

    The new relationship follows a decade of speculation among fans about whether Spider-Man – who has always been an integral and important part of the larger Marvel Universe in the comic books – could become part of the Marvel Universe on the big screen. Spider-Man has more than 50 years of history in Marvel’s world, and with this deal, fans will be able to experience Spider-Man taking his rightful place among other Super Heroes in the MCU.

     

    The Walt Disney Company chairman and CEO Bob Iger said, “Spider-Man is one of Marvel’s great characters, beloved around the world. We’re thrilled to work with Sony Pictures to bring the iconic web-slinger into the Marvel Cinematic Universe, which opens up fantastic new opportunities for storytelling and franchise building.”

     

    “We always want to collaborate with the best and most successful filmmakers to grow our franchises and develop our characters. Marvel, Kevin Feige and Amy, who helped orchestrate this deal, are the perfect team to help produce the next chapter of Spider-Man. This is the right decision for the franchise, for our business, for Marvel, and for the fans,” said Sony Pictures Entertainment chairman and CEO Michael Lynton.

     

    “Sony Pictures and Marvel Studios share a love for the characters in the Spider-Man universe and have a long, successful history of working together. This new level of collaboration is the perfect way to take Peter Parker’s story into the future,” added Sony Pictures Entertainment Motion Picture Group president Doug Belgrad.

     

    “I am thrilled to team with my friends at Sony Pictures along with Amy Pascal to produce the next Spider-Man movie. Amy has been deeply involved in the realization on film of one of the world’s most beloved characters. Marvel’s involvement will hopefully deliver the creative continuity and authenticity that fans demand from the MCU. I am equally excited for the opportunity to have Spider-Man appear in the MCU, something which both we at Marvel, and fans alike, have been looking forward to for years,” said Marvel Studios president Kevin Feige.

     

    Spider-Man, embraced all over the world, is the most successful franchise in the history of Sony Pictures, with the five films having taken in more than $4 billion worldwide.

  • Deluxe acquires Sony Colorworks; inks deal with Sony Pictures

    Deluxe acquires Sony Colorworks; inks deal with Sony Pictures

    MUMBAI: Sony has sold its digital intermediate, mastering and restoration company – Colorworks – to Deluxe Entertainment Services Group Inc.

     

    Additionally, Deluxe and Sony Pictures Digital Productions Inc (SPDP) have also entered into a multimillion dollar agreement for post services wherein Deluxe will perform DI, mastering and other services for Sony.

     

    As part of the transaction, Deluxe acquired certain assets from Colorworks Inc. Deluxe will operate from a 14,000-square-foot facility, which includes one of the industry’s leading 4K pipelines. The facility is housed in the studio’s Stage 6 and features real-time, 4K processing in a full-digital workflow for top filmmakers from across the industry.

     

    Deluxe, which has been a leader in media and entertainment services for film, video and online content, continues to expand the depth and reach of its exceptional artistry and digital capabilities.

     

    Through Deluxe’s relationship with Sony Pictures, the facility will offer state-of-the-art color grading, mastering, restoration and related services for film and TV projects by studios, networks, independent producers and filmmakers worldwide.

     

    “This agreement is a milestone in our strategic efforts to link our industry-leading artisans arm in arm with world-class content creators,” said Deluxe CEO David Kassler. 

     

    “This is yet another example of progress in our relentless pursuit of excellence for our key customers,” added Deluxe vice chairman Cyril Drabinsky.

     

    An official statement from Sony read, “Sony Pictures has made the business decision to close its Colorworks facility. We are pleased to enter into a services agreement with Deluxe to offer state-of-the-art color grading, mastering, restoration and related services for film and TV projects by studios, networks, independent producers and filmmakers at Sony Pictures.”

  • ErosNow inks partnership with RailTel

    ErosNow inks partnership with RailTel

    MUMBAI: The on-demand entertainment platform of Eros International Media, ErosNow has inked a tie-up with RailTel Corporation of India (RailTel).

     

    RailTel is a PSU under the Railway Ministry and the tie-up is for ErosNow streaming services, which has been launched through broadband for railway passengers.

     

    The Wi-Fi service was implemented at New Delhi and Bangalore stations recently for providing high speed internet to passengers with plans to provide the facility to 75 major category railway stations in India and in trains too very soon.

     

    The broadband streaming service will enable passengers at railway stations across the country to download and view their favourite entertainment content from ErosNow on their phones.

     

    RailTel has launched high speed Wi-Fi network on key railway stations and passengers will be informed about this exclusive service on arrival at stations.

     

    Eros Now CEO Rishika Lulla Singh said, “We are happy to partner with RailTel in the Indian government’s endeavour to provide Wi-Fi facilities to the common man, which has increasingly become a necessity. The association will further amplify the reach of ErosNow in providing the best in entertainment to a wider range of consumers.”

  • Rentrak partners with Eros International for box office reporting

    Rentrak partners with Eros International for box office reporting

    MUMBAI: Rentrak, a company that measures movies and TV everywhere, has announced its partnership with Eros International. As part of the deal, the company will collect box office information of Eros’ films across India. The first Eros film Rentrak will collect data on is ‘Tevar’, which released on 9 January.
                                                  
    “We are thrilled to work with Eros as we continue to grow our International coverage, which now includes the operation and collection of theatre-level attendance and box office information from 36 countries. The inclusion of Eros to our service is a powerful addition to our clients in India,” said Rentrak’s worldwide movie measurement business president Ron Giambra.  “Rentrak is thrilled to continue help India make its film production more transparent with our global box office reporting capabilities,” he added.

    Eros International CEO Jyoti Deshpande said, “We are delighted to partner with Rentrak for box office measurement in India. I believe this tie up will help accelerate positive change and herald a new era of transparency in the Indian movie industry.”
     
    Rentrak’s Box Office Essentials and International Box Office Essentials are the movie industry’s source for comprehensive global box office intelligence and are used as the currency by every studio in the United States as well as distribution entities around the world. Boasting a global footprint of the worldwide movie market, Rentrak is able to provide its clients with real-time box office intelligence, through one unique system, which allows users to view real-time online reports from anywhere around the world.
     
    In recent times, Eros has also entered into Indian regional cinema with a strong line up of Bollywood, Tamil, Telugu and Malayalam releases this year. Eros is also one of the biggest international distributors for Bollywood movies with penetration in over 50 countries.
     
    India with 3.5 billion admissions per annum is already the largest consumer of movies in the world. As studies suggest, with seamless digitisation in the movies business, proliferation of multiplexes across the length and breadth of the country, Indian movies increasingly capturing the imagination of world markets, the Indian movie industry is set to make giant strides in terms of box office revenues and compete with the fastest growing markets in the world in near future.
     
    The Eros-Rentrak tie-up assumes greater significance in this transformative phase and will provide a positive thrust towards making the rapidly growing, vastly potent yet complex Indian movie industry, transparent.  

    The latest offering from Eros – Tevar stars Arjun Kapoor and Sonakshi Sinha in the lead. Eros’ upcoming films include Shamitabh, a film by R. Balki and starring India’s biggest super star Amitabh Bachchan.

     

  • Eros International forays into Malayalam market with Jeethu Joseph’s ‘Life of Josootty’

    Eros International forays into Malayalam market with Jeethu Joseph’s ‘Life of Josootty’

    MUMBAI: Eros International Media Limited (Eros International) has announced its foray into the Malayalam market with leading director Jeethu Joseph’s ‘Life of Josootty’. Produced by Jayalal Menon and Anil Biswas’ Backwater Studios and Eros, this upcoming  comic  drama  stars   popular  Malayalam  actor  Dileep  along  with  Rachana Narayanankutty, Jyothikrishna, Harish Peradi, Sunil Sugatha, Suraj  Vengharamoodu and Kalabhavan Mani.

    Jeethu and Dileep join hands once again after their hit pairing in the immensely popular ‘My Boss’. ‘Life of Josootty’ marks  Jeethu Joseph’s next  venture after his recent blockbuster ‘Drishyam’  with Mohanlal. Anil Johnson of ‘Memories’, ‘Drishyam’ and ‘Three Dots’ fame has composed the music for the film.

    Commenting on the  co-production  venture,  Eros International Media  managing director Sunil   Lulla said, “Eros has been one of the biggest champions of regional cinema be it Tamil, Telugu, Marathi or Punjabi. We are very excited to enter the prolific Malayalam market by associating with prominent talent like Jeethu Joseph and Dileep.”

    Eros director- creative & strategy for south India Soundarya A Rajnikanth added, “We are looking forward to tapping the potential of Malayalam cinema and happy to align with the very best in talent there. Malayalam industry is filled with brilliant stories and content we want to produce and we are in talks with various producers, directors and actors currently. This industry is very important in our upcoming slate of productions and we couldn’t have had a better entry than with a Jeethu Joseph film.”

    Producer Jayalal Menon added, “We are very pleased to associate with a leading global studio like Eros to co-produce ‘Life of Josootty’. With their undisputed leadership in global marketing and distribution, we are confident they will present Malayalam cinema on a worldwide platform with maximum reach.”

    ‘Life of Josootty’ is a comedy set against the backdrop of a family with a fantasy edge. The film went on floor on 2 January and will be shot across ldukki in Kerala and New Zealand. Eros International and Backwater Studios are looking at releasing the film worldwide in June 2015.

    With its venture into Malayalam cinema, Eros further strengthens its vision to scale up the business of regional language with its strong tie-ups and attractive film content.

     

  • Essel Vision enters into a multi-film deal with White Feather Films

    Essel Vision enters into a multi-film deal with White Feather Films

    MUMBAI: Essel Vision Productions Ltd (EVPL), the creative and production studio of Zee Entertainment Enterprises Ltd (ZEEL), has announced a multi-film deal to make its foray into mainstream commercial Hindi films with writer, director and producer, Sanjay Gupta’s White Feather Films.

    The first film to go on floors in January 2015 is directed by Sanjay Gupta. Titled Jazbaa, it is Aishwarya Rai Bachchan’s comeback film as the dynamic lead protagonist and also stars Irrfan Khan, Shabana Azmi and Anupam Kher. Jazbaa will be Aishwarya’s first film after a gap of 5 years.

     Essel Vision has, in a short span of three years, emerged as a full-fledged state-of-the-art-studio that is a one-stop destination for all in film making, promotions, advertising, distribution and revenue generating streams. It has built a dynamic portfolio of regional cinema in Marathi and Bengali, top rated television shows and is now venturing into Hindi cinema. Wholly owned by ZEE, Essel Vision is backed by the conglomerate’s vast network of channels including its music company Zee Music.

     After being a trendsetter in Marathi and Bangla cinema and associations with the biggest names in regional language cinema, this announcement is a first from amongst a slate of films being made by Essel Vision.
     
    Acclaimed filmmaker Nittin Keni is Essel Vision’s CEO and has produced commercial and critical blockbusters like Gadar: Ek Prem Katha and half a dozen other successful films. On this multi-film deal, Nittin Keni says, “We are delighted to associate with Sanjay Gupta. The first offering Jazbaa is a brilliant script that is full of emotional texture and develops beautifully into a human story for global audiences. The partnership is a perfect fit for both companies and I am confident that together we will be in a better position to deliver compelling, profitable entertaining content to global audiences. Besides the films which we have already locked, we are in talks with several prolific content makers and will soon announce other projects in the pipeline.”
     
    Sanjay Gupta is known for his fast-paced action thrillers which include Kaante, Musafir, Zinda, Shootout at Lokhandwala and the recent blockbuster Shootout At Wadala amongst others. Commenting on their association, Sanjay Gupta, Chairman & MD, White Feather Films says, “It’s a pleasure to associate with Essel Vision on their foray into mainstream Hindi film production after the successes they have had in regional cinema. Having the largest Indian television conglomerate ZEEL backing us is a dream come true for any production house. We, at White Feather Films, could not be happier. Also, for me from doing fast paced action, I’m looking forward to Jazbaa as it’s a gripping, touching and terrifying drama. We have a stellar team, and a great dramatic conundrum that audiences should enjoy.”
     
    After creating an unprecedented record at the recently held 45th International Film Fesival of India (IFFI) in Goa, with four films produced by EVPL selected officially to be screened at the festival, the studio identifies and acquires powerful fresh and intellectual property based ideas and matches them with strong filmmakers to turn them into blockbusters. Essel Vision – Business Head, Akash Chawla says, “This is our first announcement and many more announcements can be expected from Essel Vision in the Hindi film space. Zee is here to make quality & commercially viable films and Essel Vision, as the creative and production arm of Zee, will lead the foray. We will be involved in all aspects right from film production, processing, distribution, exhibition and revenue streams of these films.”  

     

  • Lionsgate reports 10.9% revenue growth; TV Production profits quadruple: Q2-2015

    Lionsgate reports 10.9% revenue growth; TV Production profits quadruple: Q2-2015

    BENGALURU: Lions Gate Entertainment Corporation/Incorporated (Lionsgate) reported revenue growth of 10.9 per cent to US$ 552.88 million in Q2-2015 (quarter ended 30 September 2014, current quarter) from US$ 498.73 million in the corresponding quarter of last year (Q2-2014).  For HY-2015 (Six month period ended 30 September 2014), Lionsgate revenue fell 6.2 per cent to US$ 1002.26 million from US$ 1068.46 million in HY-2015.

     
    The company’s net income in Q2-2015 after taxes increased 41 times to US$ 20.78 million from US$ 0.51 million in Q2-2014. HY-2015 net income after tax more than quadrupled to US$ 64.04 million as compared to the US$ 14.12 million in HYT-2014.

     
    “We’re pleased that our entire portfolio of businesses contributed to our solid results in the quarter, driven by a particularly strong performance from our television operations,” said Lionsgate chief executive officer Jon Feltheimer.  “It was a quarter in which we extended our franchises into new lines of business, continued to assemble a strong pipeline of new properties with great commercial potential and developed online platforms that enhance our ability to deliver our content directly to the consumer.”

     
    Television Production Segment

     
    Revenue from the company’s Television Production segment more than doubled (increased by 140.7 per cent over Q2-2014) in Q2-2015 to US$ 154.85 million from US$ 64.33 million in Q2-2014. HY-2015 revenue from this segment rose 39.4 per cent to US$ 272.32 million from US$ 195.42 million in HY-2014.

     
    Television production segment’s profit more than quadrupled (increased by 352.3 per cent over Q2-2104) to US$ 13.93 million from US$ 3.08 million in Q2-2014. HY-2015 profit increased 27.7 per cent to US$ 27.63 million from US$ 21.63 million in the corresponding six months of the previous year.

     
    Lionsgate attributes the growth to strong gains in both domestic and international television as well as home entertainment revenue from television production.

     
    Fifty-five episodes and 38.5 hours of domestic television series were delivered in the quarter, including episodes of ‘Manhattan’ , ‘Anger Management ‘, ‘Orange is the New Black’ , ‘Houdini’ , ‘Nashville’ and ‘Mad Men’ , compared to 20 episodes and 11.0 hours in the prior year quarter. Strong international sales of ‘Orange is the New Black’, ‘Nashville’ and ‘Anger Management’ were also reported in the quarter, says the company.

     
    Motion Picture Segment
     

    Lionsgate’s major segment – Motion Picture- reported 8.4 per cent drop in revenue to US$ 398.03 million in Q2-2015 from US$ 343.4 million in the year ago quarter.  HY-2015 revenue from this segment fell 16.4 per cent to US$ 729.94 million as compared to the US$ 873.04 million in HY-2014.

     
    Motion Picture segment reported a 15.4 per cent drop in profit in Q2-2015 to US$ 57.95 million from US$ 68.81 million in Q2-2014. For HY-2015, profit was up 11.4 per cent at US$ 136.68 million as compared to the US$ 122.65 million during the corresponding period of last year.

     
    Within the Motion Picture segment, theatrical revenue declined to US$ 44.9 million with only two wide theatrical releases in the quarter, ‘The Expendables 3’ and ‘Step Up All In’, compared to a prior year quarter that included two wide releases, continuing revenue from the May 2013 release of ‘Now You See Me’ and the record-setting Spanish-language release ‘Instructions Not Included’ from Pantelion Films reveals the company.

     
    The company reveals further that Lionsgate’s home entertainment revenue for the quarter was US$ 164.4 million compared to US$ 209.9 million in the prior year quarter due to strong performances from the Managed Brands slate and ‘Now You See Me’ in the prior year quarter partially offset by the outstanding home entertainment performance of Divergent in the current quarter. Home entertainment revenue from television production increased in the quarter due to gains in digital media revenue.

     
    Bolstered by the pay television window opening for ‘The Hunger Games: Catching Fire’ and the free television window opening for ‘The Twilight Saga: Breaking Dawn – Part 1’ , television revenue included in the Motion Picture segment more than doubled to US$ 69.4 million in the quarter compared to US$ 34.6 million in the prior year quarter.

     
    International Motion Picture segment revenue (excluding Lionsgate U.K.) for the quarter was US$ 75.6 million compared to $US 88.7 million in the prior year quarter with three wide release titles in worldwide release compared to five in the prior year quarter. Lionsgate UK reported revenue of US$ 37.3 million in the quarter increased 38 per cent compared to the prior year quarter.

     
    Lionsgate is a global entertainment company with a diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales.

     
    Lionsgate currently has more than 30 television shows on over 20 different networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as the multiple Emmy Award-winning ‘Mad Men’ and ‘Nurse Jackie’, the comedy ‘Anger Management,’ the broadcast network series ‘Nashville’, the syndication success ‘The Wendy Williams Show’ and the critically-acclaimed hit series ‘Orange is the New Black.’

     
    Its feature film business has been fuelled by such recent successes as the blockbuster first two installments of ‘The Hunger Games’ franchise, ‘The Hunger Games’ and ‘The Hunger Games: Catching Fire’, the first installment of the ‘Divergent’ franchise, ‘Now You See Me’, ‘John Wick’ , ‘Warm Bodies’ , ‘The Possession’ , ‘Sinister’ , ‘Roadside Attractions’, ‘A Most Wanted Man’, Lionsgate/Codeblack Films’ ‘Addicted’ and Pantelion Films’ Instructions Not Included , the highest-grossing Spanish-language film ever released in the US.

     
    Lionsgate says that it handles a prestigious and prolific library of approximately 16,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company’s core businesses.

     
    Epix is an American hybrid premium cable and satellite television network, and subscription video on demand service that is operated by Studio 3 Partners LLC, a joint venture of Viacom (specifically its subdivision Paramount Pictures), Metro-Goldwyn-Mayer and Lions Gate Entertainment. Viacom handles operational support for the channel, including marketing and affiliate services, through its Viacom Media Networks division. The television channel features theatrically released motion pictures, documentaries, concert and comedy specials, and boxing and mixed martial arts matches. TVGN is an American cable and satellite channel that is joint venture between CBS Corporation and Lions Gate Entertainment.

     

    Click here to read the earning release of the company

     

  • MGM Holdings revenue down, income up in Q3-2014

    MGM Holdings revenue down, income up in Q3-2014

    BENGALURU: MGM Holdings Inc (MGM) reported 4 per cent drop in revenue to US$ 233.47 million in Q3-2014 from US$ 242.90 million in Q3-2013. Income for the period rose 72 per cent to US$ 28.59 million in Q3-2014 from US$ 16.59 million in Q3-2013.

     

    Here below are edited excerpts of MGM’s financial report for the quarter ended 30 September 2014.

     

    MGM says that as expected, revenue was lower due to the significant revenue it generated from its franchise film, Skyfall, which began its worldwide pay television and SVOD distribution in the prior year’s third quarter. This was largely offset by revenue performance in several areas in the current year’s third quarter, including higher revenue from MGM’s home entertainment distribution business, led by the worldwide distribution of RoboCop, plus higher revenue from its successful new television content and incremental revenue from previously released film content.

     

    Theatrical Revenue

     

    MGM’s Worldwide theatrical revenue was US$ 6.5 million for the three months ended 30 September 2014, an increase of US$ 3.9 million as compared to US$ 2.6 million for the three months ended 30 September 2013.

     

    Theatrical revenue for the current year’s third quarter primarily included international revenue for Hercules from certain territories where MGM controls the distribution rights. However, it did not recognise a substantial portion of the worldwide theatrical revenue for If I Stay, Hercules and 22 Jump Street, which are accounted for on a net basis after deduction of theatrical advertising and other related distribution costs. Net revenue from co-produced films is classified as other revenue from film and television content (see below). In comparison, theatrical revenue for the prior year’s third quarter primarily included the tail-end of the international theatrical distribution of The Hobbit: An Unexpected Journey.

     

    Home Entertainment

     

    Worldwide home entertainment revenue was US$ 41.7 million for the three months ended 30 September 2014, an increase of US$ 7.3 million as compared to US$ 34.4 million for the three months ended 30 September 2013. Home entertainment revenue increased in the current year’s third quarter due to the worldwide home entertainment distribution of RoboCop, which commenced in June 2014, plus the continued international distribution of The Hobbit: The Desolation of Smaug. In comparison, MGM did not have a significant home entertainment release in the prior year’s third quarter, which primarily included revenue from the continued international home entertainment distribution The Hobbit: An Unexpected Journey and Skyfall worldwide. The company says that it is also keenly focused on strategies to maximise home entertainment revenue for its library, including targeted promotions such as the MGM 90th anniversary promotion in the current year. In addition, it has a steady pipeline of new film and television content that continues to generate home entertainment revenue, including recently released titles such as The Hobbit: An Unexpected Journey internationally, Carrie, Skyfall and its successful television series, Teen Wolf and Vikings, which have performed well in both physical home entertainment and EST.

     

    Television Licensing

     

    Worldwide television licensing revenue was US$ 150.6 million for the three months ended 30 September 2014, a decrease of US$ 15.2 million as compared to US$ 165.8 million for the three months ended 30 September 2013. Television licensing revenue was lower in the current year’s third quarter primarily due to significant revenue from Skyfall in the prior year’s third quarter, including its domestic pay television premiere on Epix and its initial pay television and SVOD availabilities in several territories internationally. The prior year’s third quarter also included the initial international television licensing of The Hobbit: An Unexpected Journey. Partially offsetting this decline was higher revenue from new television content in the current year’s third quarter, which primarily included MGM’s continued international television licensing of three successful current television series, Teen Wolf, Vikings and Fargo. In addition, MGM says that it generated revenue from several new film releases, including the initial international pay television and SVOD availabilities of The Hobbit: The Desolation of Smaug, the domestic pay television premiere of Carrie on Epix, and VOD revenue for RoboCop.

     

    Other Revenue

     

    Other revenue from film and television content was US$ 13.6 million for the three months ended 30 September 2014, a decrease of US$ 10.7 million as compared to US$ 24.3 million for the three months ended 30 September 2013. Other revenue primarily included net revenue for MGM’s share of the distribution proceeds earned by its co-production partners for co-produced films for which its partners control the distribution rights in various distribution windows, including theatrical, home entertainment, television licensing and ancillary businesses. Net revenue from co-produced films is impacted by the timing of when a film’s cumulative aggregate revenues exceed its cumulative aggregate distribution fees and expenses. The decrease in the current year’s third quarter primarily reflected a higher number of titles moving through first-cycle distribution windows for which MGM record’s revenue on a gross basis as opposed to a net basis.

     

    Ancillary Businesses

     

    Total revenue from MGM ancillary businesses, which include MGM branded television channel operations, interactive gaming, consumer products, music performance and other revenue, was US$ 21.1 million for the three months ended 30 September 2014, an increase of US$ 5.3 million as compared to US$ 15.8 million for the three months ended 30 September 2013. This increase was primarily due to the timing of revenue from MGM branded television channels.

     

    Click here to read the full financial report

  • Marketing costs and independent films, an uneasy mix, says Rahul Puri

    Marketing costs and independent films, an uneasy mix, says Rahul Puri

    How many of us actually watch small films? Films that perhaps don’t have the big star cast or the big directors. Maybe there are films that don’t have the backing of big studios and will rely heavily on word of mouth from the target group, referring it to peers. How many of us really go to the theatre, pay Rs 250+ and watch these films?

     

    I doubt the answer to my question is, many, if we are being honest. The reality is that in spite of most of us moaning about the quality of storytelling in films, we generally base our film watching decisions on factors like star cast and the amount of marketing visibility. The small films usually lack these ingredients and therefore, they are not top-most in the minds of the viewers when it comes to choice for consumption. And this is usually despite the potential of their story.

     

    Forgive me for this roundabout way of getting to the point. There is a huge issue of marketing films in our business and the smaller, independent films (the films a lot of people laud as ‘good cinema’) usually ends up with the short end of the stick. An old time distributor would call these films ‘art-house’ or say they aren’t commercial and therefore, they can’t be marketed well. But there is a distinction between something that is targeted to a niche and something that is completely unmarketable.

     

    One of the large issues that our business has to address over the next few years are niche films and how we deal with them and create a viable business model for them. The West has art house theatres and a thriving independent circuit including channels, festivals and markets where films out of the mainstream can find a way to be commercial in nature.

     

    India has to find a way to resolve this issue too. We have many terrific films that don’t make it to theatres and therefore, we deprive our audiences of seeing some really great films. Look at the films that win National Awards. How many of us actually see them outside their home state? Would it not make sense for the rest of the country to see them? Are these stories that wouldn’t resonate with other Indian audiences? I can’t say the answer is yes for sure but in general it has to be true.

     

    Marketing costs and promotional expenses is one of the main bone of contention here. A film is considered impossible to release if it can’t justify a certain spend on marketing and promotion. The absolute amount of this figure has grown over the years thanks to increase in prices of media as well as the growth of media outlets and platforms. Today a film is deemed to have had a poor release if it doesn’t do the latest reality shows, launch a motion poster at a 5 Star hotel or do an eight city tour for press and promotion. All this, plus traditional forms of advertising and other marketing tools costs money. Lots of it. Where do little, independent films get this money from?

     

    Moreover, if a small film does get this finance, how do they decide what is actually effective and what is not? Marketing campaigns have a template to them these days and all agencies try to enforce this upon producers stating previous successes or competitors spend. This sometimes is relevant but mostly it’s about consuming the all important inventory that most of the agencies, channels and platforms need to exhaust in order to enhance profitability. Whether it’s needed, effective or even useful for a particular film is secondary at times. Thus, a small film is over burdened making it more unprofitable thus perpetuating the cycle that these films are generally a huge risk.

     

    So what’s the solution? Well, better and more innovative marketing planning, campaigns and execution. Most of which is probably available and there are agencies and marketing gurus out there capable of delivering. It will just take a producer or a studio the gumption of saying no to the herd mentality and giving it a real shot. The filmmakers really deserve it.

  • Mukta Arts revenue, loss down in Q2-2015

    Mukta Arts revenue, loss down in Q2-2015

    BENGALURU: Mukta Arts Limited (MAL) reported lower Total Income from Operations (TIO) of Rs 23.95 crore in Q2-2015 versus the Rs 24.99 crore in the immediate trailing quarter and almost a fourth of the Rs 85.16 crore in the corresponding year ago quarter.

     

    The company also reported lower loss in Q2-2015 at Rs 0.03 crore versus a loss of Rs 24.62 crore in Q1-2015 and a nominal PAT of Rs 0.16 crore in Q2-2014. TIO in HY-2015 was Rs 48.93 crore, less than a third of the Rs 156.60 crore in HY-2014. The company has reported y-t-d a loss of Rs 24.65 crore versus PAT of Rs 0.91 crore in HY-2014.

     

    The company’s financial statements indicate that its income from operations include Rs 3.5 crore relating to certain rights in Q2-2015. MAL’s other income includes Rs 1.19 crore, the proceeds of a keyman insurance policy.

     

    Notes:  100,00,000 = 100 Lakhs = 10 million = 1 crore

     

    Let us look at the other figures reported by the company

     

    MAL total expenditure (TE) in Q2-2015 at Rs 23.74 crore was 52.3 per cent lower (less than half) the Rs 49.74 crore in Q1-2015 and 71.9 percent lower (less than a third) of the Rs 84.61 crore in Q2-2014. HY-2015 TE at Rs 73.48 crore was 52.6 per cent less than the Rs 154.95 crore in HY-2014.

     

    Distributors/producers share in Q2-2015 was less than a fourth at Rs 5.74 crore of the Rs 23.04 crore in Q1-2015 and 1/13.6 times the Rs 78.21 crore in Q2-2014. Distributors/producers share in HY-2015 was Rs 28.78 crore, for HY-2014, it was Rs 143.15 crore.

     

    Amortisation of tangible assets including film rights (amortisation expense) in Q2-2015 was Rs 9.26 crore versus the Rs 19.5 crore in Q1-2015 and the Rs 0.37 crore in Q2-2014. HY-2015 amortisation was Rs 28.76 crore, in HY-2014 it was Rs 0.42 crore.

     

    During the current quarter, the company commenced its cinemas at Sangli and Hyderabad. Its Theatrical Exhibition segment’s revenue in Q2-2015 was Rs 8.11 crore as compared to the Rs 6.32 crore in Q1-2015 and the Rs 3.52 crore in Q2-2014. For HY-2015, revenue from Theatrical Exhibition segment revenue rose to Rs 14.43 crore from Rs 7.2 crore in HY-2014. The segment reported operating profit of Rs 0.07 crore versus an operating a loss of Rs 0.14 crore in Q1-2015 and an operating loss of Rs 0.24 crore in Q2-2014. Operating loss for HY-2015 at Rs 0.7 crore was lower than the Rs 0.16 crore in HY-2014.