ITV

Tag: Goodbye

  • Balaji’s consolidated six-month revenue nearly doubles to Rs 283 cr

    Balaji’s consolidated six-month revenue nearly doubles to Rs 283 cr

    Mumbai: Balaji Telefilms announced its financial results for the second quarter and six months ended 30 September 2022. Balaji’s consolidated six-month revenue was Rs 283 crore versus Rs 142 crore in the same period in the previous fiscal. The group’s Ebitda loss was Rs 35 crore versus Rs 69 crore in the first half of the previous fiscal.

    During the three months of this quarter, it had a pipeline of eight shows on air across four leading broadcasters. In Q2 FY23, the TV business produced 275 hours of content, up from 189 hours in Q2 FY22. Two new shows across varied genres have been lined up and are currently under production. The business contributed to extremely healthy margins during H1 FY23 and will continue to be volume-led. The current quarter’s realisation of Rs 30.37 lakh per hour is nine per cent higher than the previous quarter’s. Balaji said that its shows have often been regarded as channel drivers for broadcasters as they have been consistently well received by audiences.

    AltBalaji’s direct subscription revenue stood at five crore rupees in Q2 FY23, and the business is expected to retain the momentum as per current run rates for the balance of the year considering a strong content library in place with 93 shows and 18 movies, which include multiple seasons of shows. Apharan 2 and Code M S2 were launched in Q1 and Q2 respectively and both shows have been well received. The company sold 6.1 lakh subscriptions (including 3.2 lakh renewals) during the six months ending 30 September 2022. This excludes subscribers on partner apps where the content continues to do well. The current engagement time is 53+ minutes, with a watch time of 16.4 billion minutes. Video views stand at 1.4 billion cumulatively to date.

    It had two theatrical releases in Q2 FY23. It said that its first release for the year, Ek Villain Returns starring John Abraham and Arjun Kapoor released on 29 July to positive reviews and garnered a strong box office collection. Its subsequent theatrical release, Dobaaraa starring Taapsee Pannu in August, received widespread critical acclaim on account of its niche concept. It also released Goodbye, starring Amitabh Bachchan and Rashmika Mandanna, in October to positive reviews. It has three more movies lined up for release in FY23, wherein we have pre-locked revenue deals, thereby de-risking the movie business segment significantly. The pipeline includes Freddy, starring the nation’s current heartthrob Kartik Aryan, which has already been blocked for a direct-to-digital release starting 2 December on Disney+ Hotstar and also includes Kathal, starring Sanya Malhotra, which is also headed for a direct to digital release on Netflix.

    Balaji Telefilms MD Shobha Kapoor said, “Our TV business continues to perform well in terms of production hours, and we hope to improve this momentum as two new shows are added to our robust pipeline of eight shows that we currently have on air across channels and genres that will enable us to achieve volume growth. As always, we are confident that our content will strike a chord with audiences, as our storytelling is backed by strong creative capabilities, which drive our business growth and allow our brand to flourish in this domain. We are also extremely elated that, after a gap of almost two and a half years, we had our first theatrical release in July this year. Ek Villain Returns, headlined by a strong star cast, received positive audience reviews, which were also reflected in its box office collection.

    “Our subsequent theatrical release, Dobaaraa starring Taapsee Pannu garnered a great critical response and was trending at the number one spot on Netflix upon its release on OTT subsequently. It continued to dominate the OTT space by consistently featuring in the top ten category for multiple weeks, which demonstrates our strong content capabilities yet again. Additionally, we have a robust pipeline of three more movies to be released this year and are confident that these will exceed expectations and take our brand a notch higher. We continue to have strong controls on the cash spent while driving overall profitability, including some strong strategic content sharing deals that allow us to further our growth.”

    Operational And Financial Highlights:

    The TV business remained steady in the third quarter, with 275 hours of production across eight shows and a strong pipeline of two more shows currently in production. The business will continue to be volume-led; ALTBalaji’s total subscriptions sold in H1 FY23 were 6.1 lakh. In Q2 FY23, direct subscription revenues were five crore rupees.

    After a gap of more than two and a half years, it had its first theatrical release of the year in July. Ek Villain Returns was released. Dobaaraa, starring Taapsee Pannu and Goodbye starring Amitabh Bachchan and Rashmika Mandanna, were released on 19 August and 7 October respectively, and received widespread critical acclaim by audiences. Dobaaraa trended at the No. 1 spot, subsequently on Netflix, upon its release on OTT.

    The current pipeline includes three more projects. This includes Freddy starring Kartik Aryan, which has already been blocked for a direct-to-digital release starting 2 December on Disney+ Hotstar as well as Kathal starring Sanya Malhotra which is also headed for a direct to digital release on Netflix.

  • “We expect cinema advertising to reach close to 80% of its pre-pandemic level”: PVR CEO Gautam Dutta

    “We expect cinema advertising to reach close to 80% of its pre-pandemic level”: PVR CEO Gautam Dutta

    Mumbai: While the fiscal second quarter June-September has been subdued due to the underperformance of Bollywood (apart from “Brahmastra”), multiplex operator PVR is counting on a much better performance during the festive season. It is planning a slew of initiatives to cash in on the season, which will see a return to normalcy in this period after a gap of two years.

    Speaking to Indiantelevision.com PVR CEO Gautam Dutta said, “With an objective to encash on the blockbuster releases during the festive period, PVR will be running many promotions from 10–31 October across its products and services. This would entail special offers on ticket booking, PVR e-gift cards, Diwali gift hampers, and ‘V Pristine’ by PVR for its loyalty base of 1.46 crore privilege members. These will be announced on the PVR social media handle and in our cinemas.”

    Talking about the growth in revenue that PVR expects during the festive season compared to the same period last year, he says that after a rousing start of FY23 with Q1 doing amazing numbers and breaking all-time records in the history of cinemas, Q2 has become subdued, marked by the underperformance of some movies. “We are extremely optimistic about the festive season ahead, as this will be the first time in two years that cinemas will be operating without restrictions. Substantiating these expectations is a big line-up of movies that would hit the theatres, and the rolling back of the usual eight-week theatrical window that has been reintroduced since 1 August.”  

    When asked about inflation being a challenge, he said that in the first quarter of FY23, there has been a strong growth of 23 per cent in average ticket price (ATP which is Rs 250) and 32 per cent growth in average F&B spend per patron (which is Rs 134) as compared to the pre-pandemic period. He added that the spending ratio of F&B to ATP has also increased from 49 per cent to 54 per cent. “This shows that patrons have accepted the increase in ticket prices and there has been an increase in their spending on F&B. The contribution of recliner seats to overall footfalls and occupancy has also increased, indicating that patrons are willing to pay a premium for a more luxurious moviegoing experience. There was a strong bounce-back in theatrical admissions with 2.5 crore patrons visiting our cinemas during Q1 FY23.” 

    Festivals, Gautam explained, are a time when families bond with each other, while cinema is primarily a family entertainment medium, so they complement each other. What encourages him is the fact that there is a festive atmosphere and people are in a buoyant mood and like to eat out and watch movies with their families. Speaking about the big releases lined up across languages, he noted, “There is an exciting movie line up in the October to December period covering all languages and genres, released in multiple formats and appealing to all segments of the audience. These include “Vikram Vedha” (Hindi), “Kantara” (Kannada), Mani Rathnam’s “Ponniyin Selvan” (Tamil, Hindi, Telugu, Malayalam, Kannada), “The Woman King” (English), “Ticket to Paradise” (English), “Goodbye” (Hindi), “Doctor G” (Hindi), Warner Bros “Black Adam” (English), “Ram Setu” (Hindi), “Har Har Mahadev” (Marathi, Hindi, Tamil, Telugu, Kannada), “Prince” (Tamil, Telugu), “Thank God” (Hindi), “Phone Bhoot” (Hindi), Disney’s “Black Panther – Wakanda Forever” (English), “Uunchai” (Hindi), “Drishyam 2” (Hindi), “Bhediya” (Hindi), Disney’s “Avatar; The Way of Water” (English), “Cirkus” (Hindi).””

    When queried about the scene in terms of in-theatre advertising, he pointed out that there has been a gradual improvement in advertising revenue with a 68 per cent recovery in Q1 FY23 as compared to the pre-pandemic Q1 FY20. “Given the fact that we have some big films slated to release in the upcoming festive season, it will serve as an opportunity for us to revive advertiser interest and drive brand partnerships and retail opportunities. Q3, which includes the holiday season, is traditionally a good quarter for advertising surges, and we expect the same this year. We expect cinema advertising to reach close to 80 per cent of its pre-pandemic level and will bounce back and hit pre-Covid levels by the end of Q4.” 

    Offering further perspective, he said that PVR plays with fair equivalence vis-a-vis traditional media in terms of enjoying brand confidence and presence across various sectors of product categories. “Mostly all the relevant and sizable categories are on board with us. FMCG, telecom, e-commerce, ed-tech, BFSI (including fintech), consumer durables, automobiles, apparel, accessories, and jewellery, media entertainment, real estate, and so on are dominant categories. Some mainstream brands include Apple, Oppo, Cred, One Plus, Facebook, Whatsapp, Pepsico, Coke, Dyson, Kotak, Pepsi, Coke, Tata CliQ, Dettol, HDFC, Nippon , WOW etc.”

    On the ticket price front, he pointed out that the pandemic caused unprecedented damage to the film exhibition industry. It has practically remained shut or been allowed to operate partially for two years. In normal course, there would have been a marginal increase in ticket prices every year to match inflationary trends. There has been an increase in ticket prices since there was no increase in ticket prices for two full years. “Our average ticket price for FY 21-22 has been Rs 235, which is marginally more than Rs 204 in the pre-pandemic FY 19-20. Ticket prices are capped in three states, namely, AP, Karnataka, and Tamil Nadu, where we can’t do much. Moreover, they vary as per the category of the movie, show times during the day, weekdays and weekends.”

    In terms of where the growth is coming from, he reveals that over the last decade, the number of malls has increased dramatically. Previously, the development was happening in metros and tier I cities—they are now finding their way into tier II cities as well. “The expansion of multiplexes will also be aided by this deepening footprint. Moreover, there is a lack of out-of-home entertainment options in tier II and III as multiplexes continue to remain the cheapest form of similar leisure activity in India as compared to theme park visits, dining out, and vacations. With such indicators in place, our recent expansion to Narsipatnam, Rourkela, Patiala, and Nizamabad clearly shows our vision and commitment to strengthen our presence beyond metro cities.”

    He added that the company has revived its capex plans in a significant manner and is on track to open a total of 125 new screens during FY23. “We have opened 20 screens across four properties since the start of FY23. We recently opened our six-screen cinema at Hinjawadi, Pune, which includes a P[XL] auditorium that marks Pune’s first multiplex with an extra-large screen. About one-third of the new screen additions in this fiscal year will be in tier II and III cities. The company plans to enter nine new cities during the year.”

  • Asian films win major prizes at Moscow International Film Festival

    Asian films win major prizes at Moscow International Film Festival

    NEW DELHI: Omori Tatsushi‘s The Ravine of Goodbye from Japan won the Special Jury Prize “Silver George” while Jung Young-heon‘s Lebanon Emotion from South Korean won the “Silver George” for best director at the recent 35th Moscow International Film Festival.

    The Ravine of Goodbye is about a reporter who uncovers a rapist and his victim living together in a small town, fifteen years after the crime, while Lebanon Emotion which is a low-budget drama about two strangers running away had premiered at the Jeonju International Film Festival.

    The “Golden George” main prize went to Erdem Tepegöz‘s Particle (Zerre) from Turkey about a family of three living in an apartment block that has been evacuated for destruction. Its female star, Jale Arikan, was also awarded the best actress prize.

    The festival lineup included an eight-film Korean Cinema Showcase that included a diverse mix of recent films including Juvenile Offender, A Werewolf Boy, New World and The Thieves.

    The festival also hosted a gala screening of Furuhata Yasuo wartime memoir A Boy Called and – in its Sex, Food, Culture, Death sidebar – Li Yu‘s Double Xposure and Hashimoto Hajime‘s Princess Sakura: Forbidden Pleasures.

    The Festival saw a footfall of 72,000 during the 10-day event.