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Tag: Furious 7

  • Make this august action-packed with Star Movies, movie of the month

    Make this august action-packed with Star Movies, movie of the month

    MUMBAI: India's highly acclaimed and multi-award winning English movie channel, Star Movies, brings the action-packed fare with their movie of the month, Kill Zone 2. Released in 2016, the incredible thriller grossed over 94 million worldwide.

    Directed by Soi Cheang, it is a pulsating and gripping action-thriller movie. It stars legendary actors, including Tony Jaa, Jing Wu, Simon Yam and Zin Zhang.

    The movie is about an undercover cop who gets very close to revealing a drug syndicate when his cover gets blown by one of the syndicate members. Being a super star in South East Asia and 

    A part of franchises like Furious 7, Ong Bak – The Thai Warrior, Triple Threat, XXX: Return Of Xander Cage, Paradox and many more, Tony JAA’s characterization and performance gives tough competition to the Super Hero films. In this lightheadedly frantic follow-up to modern martial arts epic Kill Zone (Sha Po Lang), action icons Tony Jaa (Ong-Bak, The Protector) and Zhang Jin (Ip Man 3) team up with Hong Kong megastars Simon Yam, Wu Jing, and Louis Koo for a swift story of dirty cops, prison riots, and black-market organ transplants, all brought together by a non-stop series of imaginative, bone-crunching set pieces.

    Star Movies never fails to bring quality entertainment to our television screens. Explore the journey with Kit as he enters the world of dark crime and unveils the organ trafficking racket.

  • FY-2015: Technicolor reports improved numbers

    FY-2015: Technicolor reports improved numbers

    BENGALURU: Technicolor revenues increased 12 per cent at current currency and 4.7 per cent at constant currency for the year ended 31 December, 2015 (current year, FY-2015). The company says that its growth reflects growth across the Entertainment Services and Technology segments and broadly stable Connected Home revenues. Technicolor revenue for the current year was €3,652 million as compared to €3,332 million in FY-2014.

    Technicolor CEO Frederic Rose said, “In 2015, our teams closed successfully, and in parallel, a number of large acquisitions, while remaining focused on delivering a very strong free cash flow. Moving forward, Technicolor is a much more balanced company built on three leading operating businesses and a core licensing business underpinning our material upgrade of Drive 2020 objectives.”   

    Adjusted EBITDA from continuing operations reached €565 million in FY-2015, up 3.1 per cent at constant currency compared to 2014, representing a margin of 15.5 per cent, down by one point year-on-year (YoY). Technicolor says that the adjusted EBITDA increase reflected a solid Licensing revenue performance, combined with strong organic growth in Production Services, partially offset by a weak DVD Services performance in the first half, the impact of unfavourable € versus US$ exchange rate fluctuations on procurements for Connected Home in the second half, as well as a lower contribution from exited activities.

    Segment performance

    Connected Homes

    Connected Homes segment revenues totalled €1,451 million in FY-2015, up five per cent at current currency and, and up 0.3 per cent as compared to the reported €1,382 million in FY-2014. Excluding Cisco Connected Devices (CCD), revenue declined 1.2 per cent as reported and declined 5.7 per cent at constant currency in FY-2015 to €1,3,65 million as compared to $1,382 million in the previous fiscal.

    Technicolor says that even without the contribution of CCD, Connected Home continued to outpace the global CPE market despite adverse business conditions experienced in some regions, driven by a number of new awards and customer wins, including high-end products. The segment achieved in particular a sustained performance in Europe, Middle-East & Africa and Asia-Pacific, both regions reporting a double digit YoY growth in revenues, benefiting notably from a mix improvement associated with the introduction of new products and a further ramp up in the value chain. Connected Home faced however lower levels of activity in both North and Latin America, primarily reflecting cautious customer approach towards product orders and inventory management, due to pending industry consolidation in the US and unfavourable macroeconomic conditions in Brazil.

    Adjusted EBITDA reached €76 million in FY-2015 compared to €77 million in FY-2014, with a negative forex impact of €6 million. At constant currency, adjusted EBITDA was €82 million, up by 5.8 per cent compared to 2014, with a margin of 5.9 per cent, up by 0.3 point YoY.

    Entertainment Services

    Entertainment Services revenue, excluding exited activities, was €1,639 million, up 10 per cent YoY in FY-2015 at constant currency, resulting from strong organic growth, the contribution from recent acquisitions in Production Services and solid revenues recorded by DVD Services.

    Production Services recorded a strong double-digit increase in revenues in FY-2015 compared to FY-2014 says Technicolor. Revenues expanded by almost 40 per cent YoY at constant currency, as a result of a strong double digit organic revenue growth, mostly due to a record level of activity in Visual Effects for feature films, and the additions of Mr. X, OuiDo Productions, Mikros Images and The Mill.

    The company says that VFX for commercials and Animation activities also recorded higher revenues, resulting from increased levels of activity across facilities, while Postproduction revenues improved year-on-year.

    Technicolor provided VFX and/or Postproduction services to 10 of the top-16 grossing films of the year worldwide, including some of the best box office performers such as Furious 7 (Universal), Avengers: Age of Ultron (Disney), Spectre (Sony) and The Hunger Games: Mockingjay – Part 2 (Lionsgate).

    DVD Services revenues were generally stable at constant currency in FY-2015 compared to FY-2014, driven by resilient total Standard Definition DVD, Blu-ray and CD disc volumes, which were down less than one per cent YoY, reflecting a marked improvement compared to the 11 per cent volume decline recorded in FY-2014. Blu-ray disc volumes were up by eight per cent in FY-2015 compared to FY-2014, supported by the aforementioned factors and the ongoing growth in Xbox One games volumes, while Standard-Definition discs declined by five per cent YoY. Overall FY-2015 volume trends in Europe continued to be generally better than in North America, mostly due to regionally specific promotional activity for selected studio customers, as well as to the ongoing adoption of Blu-ray in this region (as compared to the more mature and stable US Blu-ray market).

    Total Games volumes declined by 11 per cent YoY, with ongoing erosion in prior generation video game console demand outpacing growth for the current generation Xbox One platform. Going forward, prior generation video games volumes have now reached an immaterial level and should not influence future trends to the same degree.

    Excluding exited activities, Adjusted EBITDA was €190 million, down 2.1 per cent at constant currency YoY, as the stronger Production Services contribution was almost fully offset by lower DVD Services performance. However, the free cash flow generation in DVD Services was stable year-over-year notwithstanding the adjusted EBITDA decline says the company.

    Technology

    Technology revenues excluding M-GO, which was sold in early January 2016 to Fandango, a business unit of NBCUniversal, amounted to €490 million, up 3.3 per cent year-over-year at constant currency, primarily driven by higher revenues from the MPEG LA pool, which represented 59 per cent of total Licensing revenues in FY-2015 compared to 45 per cent in FY-2014. The Group’s direct licensing programs recorded a solid performance in the first half, particularly for Digital TV, which benefited from the strong level of new contracts and contract renewals in the course of 2014. In the second half, direct licensing programs posted a lower performance as the Group did not sign any major contract renewal or new contract as some ongoing discussions with manufacturers were delayed to leverage the joint licensing program with Sony in Digital TV (DTV) and Computer Display Monitor (CDM) that was announced in September.

    Excluding M-GO, Adjusted EBITDA reached €389 million, up 3.4 per cent at constant currency year-on-year, driven by the strong contribution of the MPEG LA patent pool.

  • FY-2015: Technicolor reports improved numbers

    FY-2015: Technicolor reports improved numbers

    BENGALURU: Technicolor revenues increased 12 per cent at current currency and 4.7 per cent at constant currency for the year ended 31 December, 2015 (current year, FY-2015). The company says that its growth reflects growth across the Entertainment Services and Technology segments and broadly stable Connected Home revenues. Technicolor revenue for the current year was €3,652 million as compared to €3,332 million in FY-2014.

    Technicolor CEO Frederic Rose said, “In 2015, our teams closed successfully, and in parallel, a number of large acquisitions, while remaining focused on delivering a very strong free cash flow. Moving forward, Technicolor is a much more balanced company built on three leading operating businesses and a core licensing business underpinning our material upgrade of Drive 2020 objectives.”   

    Adjusted EBITDA from continuing operations reached €565 million in FY-2015, up 3.1 per cent at constant currency compared to 2014, representing a margin of 15.5 per cent, down by one point year-on-year (YoY). Technicolor says that the adjusted EBITDA increase reflected a solid Licensing revenue performance, combined with strong organic growth in Production Services, partially offset by a weak DVD Services performance in the first half, the impact of unfavourable € versus US$ exchange rate fluctuations on procurements for Connected Home in the second half, as well as a lower contribution from exited activities.

    Segment performance

    Connected Homes

    Connected Homes segment revenues totalled €1,451 million in FY-2015, up five per cent at current currency and, and up 0.3 per cent as compared to the reported €1,382 million in FY-2014. Excluding Cisco Connected Devices (CCD), revenue declined 1.2 per cent as reported and declined 5.7 per cent at constant currency in FY-2015 to €1,3,65 million as compared to $1,382 million in the previous fiscal.

    Technicolor says that even without the contribution of CCD, Connected Home continued to outpace the global CPE market despite adverse business conditions experienced in some regions, driven by a number of new awards and customer wins, including high-end products. The segment achieved in particular a sustained performance in Europe, Middle-East & Africa and Asia-Pacific, both regions reporting a double digit YoY growth in revenues, benefiting notably from a mix improvement associated with the introduction of new products and a further ramp up in the value chain. Connected Home faced however lower levels of activity in both North and Latin America, primarily reflecting cautious customer approach towards product orders and inventory management, due to pending industry consolidation in the US and unfavourable macroeconomic conditions in Brazil.

    Adjusted EBITDA reached €76 million in FY-2015 compared to €77 million in FY-2014, with a negative forex impact of €6 million. At constant currency, adjusted EBITDA was €82 million, up by 5.8 per cent compared to 2014, with a margin of 5.9 per cent, up by 0.3 point YoY.

    Entertainment Services

    Entertainment Services revenue, excluding exited activities, was €1,639 million, up 10 per cent YoY in FY-2015 at constant currency, resulting from strong organic growth, the contribution from recent acquisitions in Production Services and solid revenues recorded by DVD Services.

    Production Services recorded a strong double-digit increase in revenues in FY-2015 compared to FY-2014 says Technicolor. Revenues expanded by almost 40 per cent YoY at constant currency, as a result of a strong double digit organic revenue growth, mostly due to a record level of activity in Visual Effects for feature films, and the additions of Mr. X, OuiDo Productions, Mikros Images and The Mill.

    The company says that VFX for commercials and Animation activities also recorded higher revenues, resulting from increased levels of activity across facilities, while Postproduction revenues improved year-on-year.

    Technicolor provided VFX and/or Postproduction services to 10 of the top-16 grossing films of the year worldwide, including some of the best box office performers such as Furious 7 (Universal), Avengers: Age of Ultron (Disney), Spectre (Sony) and The Hunger Games: Mockingjay – Part 2 (Lionsgate).

    DVD Services revenues were generally stable at constant currency in FY-2015 compared to FY-2014, driven by resilient total Standard Definition DVD, Blu-ray and CD disc volumes, which were down less than one per cent YoY, reflecting a marked improvement compared to the 11 per cent volume decline recorded in FY-2014. Blu-ray disc volumes were up by eight per cent in FY-2015 compared to FY-2014, supported by the aforementioned factors and the ongoing growth in Xbox One games volumes, while Standard-Definition discs declined by five per cent YoY. Overall FY-2015 volume trends in Europe continued to be generally better than in North America, mostly due to regionally specific promotional activity for selected studio customers, as well as to the ongoing adoption of Blu-ray in this region (as compared to the more mature and stable US Blu-ray market).

    Total Games volumes declined by 11 per cent YoY, with ongoing erosion in prior generation video game console demand outpacing growth for the current generation Xbox One platform. Going forward, prior generation video games volumes have now reached an immaterial level and should not influence future trends to the same degree.

    Excluding exited activities, Adjusted EBITDA was €190 million, down 2.1 per cent at constant currency YoY, as the stronger Production Services contribution was almost fully offset by lower DVD Services performance. However, the free cash flow generation in DVD Services was stable year-over-year notwithstanding the adjusted EBITDA decline says the company.

    Technology

    Technology revenues excluding M-GO, which was sold in early January 2016 to Fandango, a business unit of NBCUniversal, amounted to €490 million, up 3.3 per cent year-over-year at constant currency, primarily driven by higher revenues from the MPEG LA pool, which represented 59 per cent of total Licensing revenues in FY-2015 compared to 45 per cent in FY-2014. The Group’s direct licensing programs recorded a solid performance in the first half, particularly for Digital TV, which benefited from the strong level of new contracts and contract renewals in the course of 2014. In the second half, direct licensing programs posted a lower performance as the Group did not sign any major contract renewal or new contract as some ongoing discussions with manufacturers were delayed to leverage the joint licensing program with Sony in Digital TV (DTV) and Computer Display Monitor (CDM) that was announced in September.

    Excluding M-GO, Adjusted EBITDA reached €389 million, up 3.4 per cent at constant currency year-on-year, driven by the strong contribution of the MPEG LA patent pool.

  • Essel Vision bags distribution rights of Lionsgate’s ‘The Last Witch Hunter’

    Essel Vision bags distribution rights of Lionsgate’s ‘The Last Witch Hunter’

    MUMBAI: Zee Entertainment Enterprises Limited’s (Zeel) content studio, Essel Vision Productions has acquired the distribution and marketing rights of Lionsgate’s supernatural thriller The Last Witch Hunter starring Vin Diesel.

     

    Essel Vision recently revealed the first look of the movie to moviegoers in India.

     

    The company will release the film in theatres across India a day prior to its worldwide release on Thursday, 22 October, 2015. The Last Witch Hunter features an ensemble cast led by Diesel, Academy Award-winning Michael Caine and Rose Leslie, widely acclaimed for her role as Ygritte in the blockbuster series Game of Thrones. The film is directed by Breck Eisner.

     

    Essel Vision Studio business head Akash Chawla said, “We’re always looking to collaborate with the most successful content companies in the world as well as to give new filmmakers an opportunity to showcase their work. Following our successful ventures into television, short form content, Bollywood, regional cinema and music, our exclusive deal with global content leader Lionsgate to handle all the marketing and distribution of The Last Witch Hunter in India cements our leadership in handling Hollywood blockbusters as well.”

     

    “Vin Diesel is one of the biggest action heroes on the planet. Following the record-breaking success of Furious 7, his next film is breathlessly anticipated by his fans here in India and around the world. Today’s sneak peek marks the first step in our innovative and aggressive marketing campaign to ensure that the film receives the mammoth reception it deserves,” added Chawla. 

     

    “The Last Witch Hunter showcases action superstar Vin Diesel at his exciting best, and we’re delighted to partner with our friends at Zee Entertainment to bring his latest thriller to Indian moviegoers,” said Lionsgate Motion Picture Group co-chairs Patrick Wachsberger and Rob Friedman.

     

    “The large and fast-growing Indian marketplace offers tremendous opportunities. With their marketing prowess and distribution expertise, Zee Entertainment is the right partner, The Last Witch Hunter is the right film and Vin Diesel is the right superstar to help us conquer the box office there,” they said.

     

    Essel Vision will also make its foray into Hindi motion pictures in October with the release of Jazbaa, starring Aishwarya Rai Bachchan and Irrfan Khan, which is being directed by Sanjay Gupta.

  • Q2-2015: Record box office boosts Imax y-o-y revenue 30%, income per share 79%

    Q2-2015: Record box office boosts Imax y-o-y revenue 30%, income per share 79%

    BENGALURU: Joint-venture revenue sharing arrangements played a leading role in the 79 per cent increase in income per share to $0.34 from $0.19 for the Toronto, Canada based, New York Stock Exchange traded entertainment, technology and distribution company Imax Corp for the quarter (Q2-2015) ended 30 June, 2015. For the six month (YTD, 6M-2015) period of the current year, joint-venture revenue arrangement sharing also played a lead in the 70 per cent increase in income per share to $0.34 from $0.20 in 6M-2014.

     

    The company’s y-o-y revenue in the current quarter increased 29.8 per cent to $107.16 million as compared to the $79.145 million in Q2-2014. YTD, Imax revenue increased 33 per cent to $169.371 million from $127.342 million in 6M-2014.

     

    Company speak

     

    Revenue from sales and sales type leases was $18.7 million in the second quarter of 2015, compared to $14.5 million in the second quarter of 2014, primarily reflecting the installation of 15 full theatre systems (14 new, one used) under sales and sales type lease arrangements in the most recent second quarter, compared to the 11 sales type theatres the company installed in the prior year period. In addition, there were no upgrades in existing locations in the second quarter of 2015, compared to 4 xenon upgrades in the second quarter of 2014.

    Revenue from joint revenue sharing arrangements was $31.6 million in the quarter, compared to $19.4 million in the prior year period. During the quarter, the company installed 20 new theatres under joint revenue sharing arrangements, compared to 19 in the same period in 2014. The company had 477 theatres operating under joint revenue sharing arrangements as of June 30, 2015, as compared to 408 joint venture theatres one year prior.

     

    Production and Imax DMR (Digital ReMastering) revenues were $36.6 million in the second quarter of 2015, compared to $24 million in the second quarter of 2014. Gross box office from DMR titles was $343 million in the second quarter of 2014, compared to $216 million in the prior year period. The average global DMR box office per screen in the second quarter of 2014 was $414,600 compared to $299,800 in the prior year period.

    ”The second quarter of 2015 was one of the strongest in Imax’s history, delivering our highest revenue ever, growing adjusted EPS by 60per cent compared to the same period last year, record box office and quarterly per screen averages that we have not seen since Avatar in 2010,” said Imax CEO Richard L. Gelfond. ”We believe the strength of this quarter clearly demonstrates the impact that a strong slate of blockbuster films can have on Imax and the operating leverage that results.”

     

    ”Momentum also continued to build on the network side of our business with higher than expected installations and strong signings activity in the quarter,” continued Gelfond, who was in Vienna for the world premiere of Mission Impossible: Rogue Nation at the historic Vienna Opera House, which has been transformed into an Imax theatre for this event. ”Tonight’s M:I5 event is the continuation of the transformation of Imax’s brand from the smaller successes onto center stage. More agreements to use Imax cameras as well as Imax premieres such asFurious 7 and Jurassic World are a powerful marketer for our brand and also signal the increasingly important role Imax plays in the entertainment ecosystem.”

     

    Let us look at the other numbers reported by Imax

     

    Imax net income in Q2-2015 almost doubled (up 1.92 times) to $24.35 million as compared to the $13.307 million in the corresponding year ago quarter. Similarly, 6M-2015 net income almost doubled (went up 1.94 times) to $278.65 million as compared to the $143.58 million in 6M-2014.

     

    Note: (1) The primary revenue sources for the Company can be categorized into two main groups: theatre systems and films. On the theatre systems side, the Company derives revenues from theatre exhibitors primarily through either a sale or sales-type lease arrangement or a joint revenue sharing arrangement. Theatre exhibitors also pay for associated maintenance and extended warranty services. Film revenue is derived primarily from film studios for the provision of film production and digital re-mastering services for exhibition on Imax theatre systems around the world. The Company derives other film revenues from the distribution of certain films and the provision of post-production services. The Company also derives a small portion of other revenues from the operation of its own theatres, the provision of aftermarket parts for its system components, and camera rentals

     

    (2)The Company has seven reportable segments identified by category of product sold or service provided: Imax systems; theater system maintenance; joint revenue sharing arrangements; film production and Imax DMR; film distribution; film postproduction; and other. The Imax systems segment includes the design, manufacture, sale or lease of Imax theater projection system equipment. 

     

    The theater system maintenance segment includes the maintenance of Imax theater projection system equipment in the Imax theater network. The joint revenue sharing arrangements segment includes the provision of Imax theater projection system equipment to an exhibitor in exchange for a share of the boxoffice and concession revenues. The film production and Imax DMR segment includes the production of films and the performance of film remastering services. The film distribution segment includes the distribution of films for which the Company has distribution rights.

     

    The film postproduction segment provides film postproduction and film print services. The other segment includes certain Imax theaters that the Company owns and operates, camera rentals and other miscellaneous items.

     

    Imax Theater Systems

     

    Imax Theater Systems revenue in Q2-2015 increased 37.1 per cent to $63.117 million as compared to the $46.032 million in Q2-2014. YTD, revenue increased 37.2 per cent to $99.949 million from $72.843 million in 6M-2014.

     

    Gross margin from Imax Theater System increased 46.7 per cent in Q2-2015 to $40.695 million from $27.748 million in the corresponding year ago quarter. YTD, gross margin during the current six month period also increased by 46.7 per cent to $62.778 million as compared to the 42.805 million in 6M-2014.

     

    Joint venture revenue sharing arrangement numbers

     

    The Imax Theater System growth (as well as growth in Imax overall numbers) was led by a 63.2 per cent growth in the revenue from joint revenue sharing arrangements at $31.594 million in the current quarter, as compared to the $19.363 million in the corresponding year ago quarter.

     

    Gross Margin reported by Imax joint revenue sharing arrangements increased 79.9 per cent in Q2-2015 to $24.069 million from $13.378 million in the corresponding year ago quarter. YTD, gross margin during the current six month period increased by 67.9 per cent to $34.686 million as compared to the 20.661 million in 6M-2014.

     

    Imax systems numbers

     

    Imax systems revenue in Q2-2015 increased 24.3 per cent to $22.365 million as compared to the $17.996 million in Q2-2014. YTD, revenue increased 33.9 per cent to $34.479 million from $25.8756 million in 6M-2014.

     

    Gross margin from Imax systems increased 16.8 per cent in Q2-2015 to $13.537 million from $11.589 million in the corresponding year ago quarter. YTD, gross margin during 6M-2015 increased by 32.8 per cent to $21.722 million as compared to the 16.362 million in 6M-2014.

     

    Theater system maintenance numbers

     

    Theater system maintenance revenue in Q2-2015 increased 5.6 per cent to $9.158 million as compared to the $8.673 million in Q2-2014. YTD, revenue increased 6.8 per cent to $18.008 million from $16.868 million in 6M-2014.

     

    Gross margin from Theater system maintenance increased 11.1 per cent in Q2-2015 to $3.089 million from $2.781 million in the corresponding year ago quarter. YTD, gross margin during 6M-2015 increased by 10.2 per cent to $6.370 million as compared to the 5.782 million in 6M-2014.

     

    Films

     

    Films revenue increased 34 per cent in the current quarter to $36.369 million as compared to the $29.383 million in Q2-2014. For 6M-2015, revenue improved 24.5 per cent to $61.323 million as compared to the $49.257 million in the corresponding year ago six month period.

     

    Gross margin from Films improved 46.2 per cent in Q2-2015 to $28.454 million from $19.592 million in Q2-2014. For the six month period ended 30 June, 2015, Films gross margin increased 35.1 per cent to $42.392 million as compared to the $31.381 million in 6M-2014.

     

    Production and Imax DMR numbers

     

    Production and Imax DMR was the only segment in ‘Films’ to attain revenue and gross margin q-o-q  and YTD growth. Revenue in Q2-2015 grew 52.2 per cent to $36.603 million as compared to the $24.050 million in the corresponding year ago quarter. During 6M-2015, revenue grew 38.3 per cent to $54.279 million from $39.235 million in 6M-2014.

     

    Production and Imax DMR gross margin in the current quarter grew 52.9 per cent in Q2-2015 to $28.488 million as compared to the $18.634 million in Q2-2014. YTD, gross margin grew 40.4 per cent to $41.713 million from $29.708 million in 6M-2014.

     

    Distribution numbers

     

    Distribution revenue in Q2-2015 declined 60.6 per cent to $1.158 million as compared to the $2,942 million in Q2-2014. For 6M-2015, distribution revenue declined 42.2 per cent to $2.546 million in 6M-2015 as compared to the $4.405 million in 6M-2014.

     

    Distribution reported negative gross margin Q2-2015 at $0.351 million as compared to the $0.594 million in Q2-2014. For the six month period ended 30 June, 2015, Distribution gross margin was negative $0.216 million (loss) as compared to the $0.784 million in 6M-2014.

     

    Post Production numbers

     

    Post Production revenue in Q2-2015 declined 32.7 per cent to $1.608 million as compared to the $2.391 million in Q2-2014. For 6M-2015, revenue declined 19.9 per cent to $4.498 million as compared to the $5.617 million in 6M-2014.

     

    Post Production gross margin in the current quarter declined 12.9 per cent in Q2-2015 to $3.17 million as compared to the $364 million in Q2-2014. YTD, gross margin grew 0.7 per cent to $0.895 million from $0.889 million in 6M-2014.

     

    ‘Other’ numbers

     

    Revenue from ‘Other’ in Q2-2015 grew 25.3 per cent to $4.674 million as compared to the $3.73 million in Q2-2014. 6M-2015 revenue grew 54.5 per cent to $8.099 million as compared to the $5.242 million in 6M-2014.

     

    The ‘Other’ segment reported a negative gross margin in Q2-2015 of $0.114. For 6M-2015, gross margin was negative $0.154 million as compared to the $0.016 million in 6M-2014.

  • Q1-2016: PVR PAT improves more than sevenfold; to raise Rs 500 crore

    Q1-2016: PVR PAT improves more than sevenfold; to raise Rs 500 crore

    BENGALURU: Indian motion picture exhibition, production and distribution house PVR Limited (PVR) reported more than sevenfold increase in profit after tax (PAT) in the quarter ended 30 June, 2015 (Q1-2016) as compared to the corresponding year ago quarter. 

     

    PVR’s PAT for Q1-2015 was Rs 58.45 crore (12 per cent of Total Income from Operations or TIO), while in Q1-2015, it was Rs 7.66 crore (2.1 per cent of TIO). The company had reported a loss of Rs 35.66 crore in the immediate trailing quarter (Q4-2015) citing impact by poor movie content and World Cup Cricket towards the end of FY-2015. 

     

     Note:  100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers are consolidated unless stated otherwise.

     

    Additionally, PVR’s board of directors has also approved to raise a sum of Rs 500 crore by issuing Non Convertible Debentures (NCD) subject to approval by the members of the company in the forthcoming Annual General Meeting.

     

    The board also approved the scheme of merger of PVR Leisure Limited and Lettuce Entertain You Limited with the Company.

     

    Approval was also given for the allotment of 50,00,000 equity shares priced at Rs 700 per share of face value Rs 10 each equity share at a premium of Rs 690 per share aggregating to Rs 350 crore on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited.

     

    Box Office performance

     

    This quarter has seen the release of some hits and super hits like Tanu Weds Manu Returns (Gross Box Office or GBO Rs 46.9 crore, 25 lakh admits, Average Ticket Price or ATP Rs 185); Piku (GBO Rs 27.7 crore, 15 lakh admits, ATP Rs 186); Fast and Furious 7 (GBO Rs 26.6 crore, 15 lakh admits, ATP Rs 174); ABCD2 (GBO Rs 23.4 crore, 13 lakh admits, ATP Rs 183); and Avengers-Age of Ultron (GBO Rs 24.4 crore, 13 lakh admits, ATP Rs 182) that have driven the resurgence in revenue as well as PAT.

     

    Net Box Office (NBO) collections in the current quarter increased 34.96 per cent to Rs 274.19 crore from Rs 203.16 crore in Q1-2015. Q1-2016 saw admits increasing by 25 per cent to 1.9 crore with an occupancy of 38 per cent as compared to 1.52 crore with an occupancy of 32 per cent in Q1-2015. ATP in the current quarter also improved to Rs 183 from Rs 176 in Q1-2015.

     

    While the share of NBO as percentage of TIO has gone up fractionally in Q1-2016 to 59.3 per cent (Rs 249.12 crore) from 59.2 per cent (Rs 197.61 crore) in Q1-2015, Food and Beverage (F&B) share has gone up to 28 per cent (Rs 117.87 crore) from 25.9 per cent (87.04 crore) in Q1-2015, advertising share has dropped in percentage terms but increased in value terms to Rs 41.62 crore (9.9 per cent) in the current quarter from Rs 35.2 crore (10.2 per cent) and others contribution has dropped to 2.8 per cent (Rs 12 crore) from Rs 14.95 crore (4.5 per cent).

     

    Let us look at the other numbers reported by PVR

     

    The company has reported positive results in Q1-2015 from all its revenue generating segments, which include movie exhibition, movie production and distribution as well as ‘Others,’ which includes bowling, gaming and restaurant services, etc. As a matter of fact, the ‘Others’ segment has returned an operating profit of Rs 0.82 crore in Q1-2016 as compared to operating losses of Rs 2.46 crore and Rs 1.46 crore in Q1-2015 and Q4-2015 respectively.

     

    TIO in Q1-2016 at Rs 486.02 crore was 34.2 per cent more than the Rs 362.26 crore in the corresponding year ago quarter and was 62.3 per cent more than the Rs 299.55 crore in Q4-2015.

     

    Net F&B revenue increased by 45.9 per cent in Q1-2016 to Rs 129.79 crore from Rs 88.97 crore in the corresponding year ago quarter. Spend per head has increased 16 per cent to Rs 74 in Q1-2016 from Rs 63 in Q1-2015. The company says that it has managed to lower the cost of goods and sold (COGS) by 4.1 per cent in Q1-2016 to 24.9 per cent from 29 per cent in Q1-2015.

     

    PVR’s sponsorship revenue has gone up 27.5 per cent to Rs 45.69 crore in Q1-2016 from Rs 35.84 crore in Q1-2015. The company says that eight blockbusters in the quarter helped maximizing revenues namely Tanu Weds Manu Returns, Fast & Furious 7, Piku, Avengers, ABCD2, Jurassic World, Dil Dhadakne Do and Gabbar is Back.

     

    Total expense in Q1-2016 at Rs 402.77 crore (82.9 per cent of TIO) was 19.6 per cent more than the Rs 336.68 crore (92.9 per cent of TIO) in Q1-2015 and was 28.2 per cent more than the Rs 314.12 crore (104.9 per cent of TIO) in the immediate trailing quarter.

     

    The company’s film exhibition cost increased 30 per cent to Rs 113.69 crore (23.4 per cent of TIO) in Q1-2016 as compared to the Rs 87.48 crore (24.1 per cent of TIO) in Q1-2015 and increased a massive 80.6 per cent as compared to the Rs 62.96 crore (21 per cent of TIO) in Q4-2015.

     

    F&B and other cost in Q1-2016 increased 25.2 per cent to Rs 34.59 crore (7.1 per cent of TIO) as compared to the Rs 27.63 crore (7.2 per cent of TIO) in Q4-2015. 

     

    Other expense in Q1-2016 increased 33.8 per cent to Rs 37.72 crore (7.8 per cent of TIO) as compared to the Rs 28.20 crore (7.8 per cent of TIO) in Q1-2015, but was 16.9 per cent lower than the Rs 45.38 crore (15.1 per cent of TIO) in the immediate trailing quarter.

  • Wiz Khalifa’s tribute song to Paul Walker in ‘Furious 7’ goes viral

    Wiz Khalifa’s tribute song to Paul Walker in ‘Furious 7’ goes viral

    MUMBAI: After garnering an astounding response at the box office in its opening week, the action thriller Fast & Furious 7 also saw a glowing tribute to late actor Paul Walker paid through a song See You Again.

     

    The heart touching track featured in the movie, which was launched under the Sony Music label, ranks number one on iTunes and has also become the most downloaded track in its genre. The track by Wiz Khalifa featuring Charlie Puth is produced by Brian Tyler for the film.

     

    Sony Music India head of international music Arjun Sankalia said, “Not only are we were excited about the success of the movie Fast & Furious 7 but also for the title track See You Again, which is featured in the movie in memory of Paul Walker. The song is setting records across different platforms in India. As we speak, it’s no. 1 on iTunes, the most streamed and downloaded song in the English genre and also the most Shazamed song in the country. A perfect tribute to Paul Walker, the fans couldn’t have asked for more.”

     

  • ‘Furious 7’ production generated $47 million for Georgia’s economy

    ‘Furious 7’ production generated $47 million for Georgia’s economy

    MUMBAI: The production of Universal Pictures’ Furious 7 contributed over $47 million to Georgia’s economy in payments to local businesses and workers, according to new data released.

     

    The movie opened in theaters on 3 April. The economic impact figures also detail that the production hired 7,500 local Georgians. 

     

    Universal Pictures’ Furious 7 is the latest high-profile film to call Georgia home during production, benefiting a wide-array of local businesses across a number economic sectors. The overall spend for Furious 7 includes over $15 million for hotels and nearly $5 million for hardware and lumber supplies. In particular, the production built a number of interior sets along with exterior green-screen sets in Norcross, Georgia. This includes sets used to shoot scenes taking place at an opulent Abu Dhabi penthouse, a cement factory, federal law enforcement headquarters, and even scenes featuring a stealth helicopter.

     

    “The entertainment industry in Georgia has experienced exceptional growth, which in turn has created a sustainable environment for the industry to continue to thrive here. Offering a pro-business environment with competitive incentives and investing in our workforce are just two of the ways that Governor Deal and the Georgia legislature have committed to the growth of the entertainment industry,” said Georgia Department of Economic Development Commissioner Chris Carr.

     

    “The highly-skilled local crew and competitive production climate make Georgia an attractive filming location, allowing the local businesses and workers to reap significant economic benefits. The continued support and leadership of Governor Deal and the state’s lawmakers on this issue has truly enabled Georgia’s motion picture and TV industry to flourish,” said MPAA chairman and CEO Senator Chris Dodd. 

     

    Key economic impact figures from the production of Furious 7 in Georgia: 

     

    – Spent over $47 million dollars towards local businesses and wages

     

    – Hired over 7,500 local Georgians

     

    – Paid over $15 million on hotels and nearly $5 million on hardware and lumber supplies.

  • Etihad Airways & Universal Pictures unveil ‘Fast & Furious’ plane

    Etihad Airways & Universal Pictures unveil ‘Fast & Furious’ plane

    MUMBAI: Etihad Airways and Universal Pictures unveiled the luxury Fast & Furious 777 airliner at Los Angeles International Airport (LAX). Actor/producer Vin Diesel was on hand as Etihad Airways Flight 171 arrived from Abu Dhabi to kick off the global junket and world premiere of Furious 7. The film arrives in theaters on 3 April.

     

    Representing a welcome first for the franchise, the Fast & Furious 777 will fly the direct route between Abu Dhabi and Los Angeles, which Etihad Airways opened in June 2014. The airline is also a sponsor of the Furious 7 world premiere, which takes place in Los Angeles on 1 April.

     

    As the United Arab Emirates offered an opportunity to inject striking elements and locales into the series’ mythology, Abu Dhabi became a key location for the Furious 7 production. Over the course of two weeks in April 2014, the team lensed in areas outside Abu Dhabi in the Liwa Desert, as well as in the city center at such locations as the Sheikh Zayed Grand Mosque, Emirates Palace hotel, the Yas Marina F1 race circuit and the Etihad Towers. Considering Abu Dhabi’s striking skyline—one accentuated with stunning architectural achievements—aerial shots of the skyscrapers were mandatory.

     

    “Etihad Airways is one of the fastest-growing airlines in the world with a strong history of culture and innovation and a commitment to reimagining the travel experience for our guests. We are pleased to work together with Universal, an organization that shares that same spirit of innovation and reimagination when it comes to the world of entertainment, to unveil our newly-decaled Boeing 777 aircraft in support of the Fast & Furious franchise and Furious 7, which premieres next month and highlights our airline’s home of Abu Dhabi,” said Etihad Airways chief commercial officer Peter Baumgartner.

     

    “When we began filming The Fast and the Furious in 2000, if you told me that we would one day have our logo on a wide-body jet, I would have said you were crazy. We are so honored that Etihad has partnered with us to support this very personal film, and we thank the people of the United Arab Emirates for all the kindness and graciousness they showed throughout production,” said producer Neal H. Moritz, who has shepherded all seven films in the series.

     

    The Fast & Furious decal will remain on the plane for the next four to six months.

  • ‘Fast and Furious 7’ retitled

    ‘Fast and Furious 7’ retitled

    MUMBAI: All set to launch the new edition of the famous Fast and Furious series, Universal Studios announced the latest installment will be renamed to Furious 7 and that the first trailer of the movie will  be premiered on 1 November.

     

    The trailer launch will be a part of ‘The Road to Furious 7: Trailer Launch Event at Universal Studios’ which will be held in Los Angeles. The event will also be live streamed exclusively on the Fast & Furious official Facebook page and E! Network.

     

    Fans can also attend the event by purchasing ticket available on 27 October on the official Fast and Furious social pages.

     

    The new synopsis posted reads, “Continuing the global exploits in the unstoppable franchise built on speed, Vin Diesel, Paul Walker and Dwayne Johnson lead the returning cast of ‘Furious 7.’ James Wan directs this chapter of the hugely successful series that also welcomes back favorites Michelle Rodriguez, Jordana Brewster, Tyrese Gibson, Chris ‘Ludacris’ Bridges, Elsa Pataky and Lucas Black.”

     

    “They are joined by international action stars new to the franchise including Jason Statham, Djimon Hounsou, Tony Jaa, Ronda Rousey and Kurt Russell. Neal H Moritz, Vin Diesel and Michael Fottrell return to produce the film written by Chris Morgan.”

     

    The movie will hit US theaters on 3 April 2015, after being pushed back a year due to Paul Walker’s untimely death. Also it is rumoured that Paul’s character will be retired rather than killed in the film. His final scenes have been created using his brothers Caleb and Cody as stand-ins and with the help of body double’s to recreate his voice and face.

     

    Meanwhile, the pic’s official YouTube page posted two new videos. One titled ‘The Road to Furious 7’ contains footage from the franchise’s previous films while the other one titled ‘7 Seconds of 7’ is a short behind-the-scene video featuring the cast.