ITV

Tag: Motion Picture

  • Network18 Media on a turnaround trail

    Network18 Media on a turnaround trail

    MUMBAI: The Network18 group is doing very well, thank you. The group’s media holding company Network18 Media & Investments has reported results which show that the management led by managing director Raghav Bahl and group CEO B. Saikumar is slowly but surely driving it back to profits.

    The company has reported revenues of Rs 679.5 crore in Q4 FY 2013 as against Rs 697.4 crore in Q3 FY 2013. Revenues for the full financial year ending 31 March 2013 are at Rs 2400.8 crore as against Rs 1943.8 crore – a jump of 23.51 per cent. This was driven primarily by an almost doubling in revenues from its digital content and ecommerce vertical to Rs 400.9 crore (from Rs 233.8 crore) for the whole year. Its television and motion picture vertical too leaped ahead 36.62 per cent in revenues to Rs 1725.5 crore (Rs 1262.9 crore).

    The company shaved off its operating expenses for Q4 2013 to Rs 666.8 crore from Rs 686.8 crore in Q3 FY 2013. For the whole year ending 31 March 2013, its operating expenses rose to Rs 2440.1 crore (Rs 2239.9 crore).

    Operating profits for the group during Q4 2013 were at Rs 12.8 crore against Rs 10.6 crore during Q3 FY 2013 keeping its operating margin at 2 per cent. During Q4 FY 2013, there was a drop in the company’s television and motion picture unit’s operating profits to Rs 34.6 crore (from Rs 48.1 crore). The operating losses for its digital content and e-commerce vertical fell to Rs 24.3 crore from Rs 31.3 crore in this period. The operating margins for its television and motion picture business in Q4 FY 2013 decreased to seven per cent (nine per cent in Q3 FY 2013).

    For the whole year, there has been a drastic reduction in its operating losses to Rs 39.2 crore (Rs 296 crore). Its television and motion picture business which reported operating profits of Rs 107.1 crore (Rs 1.6 c rore) and allied businesses (publishing), which saw a decrease in losses to Rs 46.9 crore from Rs 118.8 crore, helped staunch the red ink. Its digital and e-commerce business continued to lose money operationally with an operating loss of Rs 125.4 crore (Rs 126.3 crore). The operating margins for its TV and motion pictures have improved from 0 to 6 per cent for the full year.

    Network18’s consolidated debt as on 31 March 2013 stood at Rs 211 crore, down 90 per cent from Rs 2130 crore at the end of FY12.

    Interest costs for Q4 FY 2013 were reduced to Rs 38.9 crore (Rs 53.1 crore in Q3 FY 2013). For the whole year it managed to keep its interest cost under control at Rs 272 crore (Rs 270.7 crore in FY 2012).
    It managed to report a net profit of Rs 50 lakh in Q4 FY 2013 (Rs 6.8 crore in Q3 Fy 2013). For the full year, it managed to improve its bottomline with a reduction in losses to Rs 105.5 crore (Rs 392.7 crore).

    During the year, Network18 profitably sold its entire stake in Newswire18, divested its Yellow Pages and Askme businesses and diluted its majority stake in Book My Show. These transactions, in line with the strategy to exit non-core businesses, added Rs 180 crore to the annual profit and raised Rs 235 crore for the Network18 Group.

    Says Bahl: “We are delighted to inform our investors and stakeholders that at both Network18 and TV18, we have successfully deleveraged our balance sheets and have delivered strong operating performances. Network18s and TV18s net debt now stands at less than one-fifth of the peak levels and our interest payments have come down sharply. We are confident that we are now entering a sustained value creation phase in our journey as we continue to strengthen our existing operations and consolidate our regional acquisition.”

    Adds B. Saikumar: “We are extremely pleased that our digital and broadcast operations have turned in a sustained and healthy operating performance during the year despite softness in the advertising environment. Our e-commerce businesses have turned in another stellar year and our digital content businesses continue to grow steadily. We are now on a solid net distribution income trajectory and while our flagship channels like CNBC TV18/Awaaz, Colors and CNN IBN continue to perform admirably, we are also enthused by the performance of recent launches and the motion pictures business. Inspite of near term challenges given the macro-economic headwinds, we are hopeful of delivering a strong year ahead.”

  • MPAA lowers Bully rating

    MPAA lowers Bully rating

    MUMBAI: Weeks after the film was embroiled in controversy that was to its own making, the MPAA has lowered the rating of Lee Hirsch‘s documentary Bully from an R to a PG-13, it is understood.
     
    The decision came after three uses of the "f-word" were removed from the film. However, the scene that has been amid the controversy – the one that shows teen Alex Libby being bullied and harassed on a bus-has been left untouched and unedited.
     
    The MPAA is also allowing the film to be released with the new rating before 90 days, which is the length of time their policy states a film must wait to be in theaters after a rating change "to avoid confusion or inconvenience for moviegoers."
     
    Now, Bully‘s release will expand to 55 markets on 13 April with its new rating. It had opened last weekend in New York and Los Angeles without the MPAA rating.
     
    The new rating also grants the schools, organizations and cities the opportunity to share the film as an educational tool.
    Weinstein Co. had appealed the "R" earlier this year and sought a less-restrictive rating, but the MPAA refused to budge. Director Lee Hirsch could edit out the objectionable words, but has declined to make changes arguing the language is essential to the story.
     
    The Weinstein Co. has decided to release the documentary without a US film rating after failing to persuade the Motion Picture Association of America to change to one that is less restrictive.
     
    The MPAA, which represents Hollywood‘s major movie studios in governmental matters, rates films for content such as sex, violence and language to give audiences an idea of what will be in the movies they see.

  • India, Hollywood working on ways to collaborate

    India, Hollywood working on ways to collaborate

    MUMBAI: The ball has started rolling for more collaboration and cross pollination of knowledge, technology and talent between two of the world’s largest film communities – Hollywood and India.


    The Motion Picture Association of America (MPAA) chairman, CEO Senator Chris Dodd participated in an event of the LA India Film Council during the 2012 Ficci Frames Convention to discuss how to push this partnership forward.


    The event included the announcement of the Council’s governing body, the premiere of a “sizzle” video highlighting the initiative, and a presentation of the Council’s enhanced website. A special Council publication commissioned from Ernst & Young providing further information about the LA and Indian industries was released and plans for upcoming activities, including film premieres and conference events, were discussed.


    Dodd said, “The LA India Film Council is a natural corollary to the rapidly increasing creative, technological and location partnerships developing between the two countries and promises to set new benchmarks in the world of cinema. On the behalf of the MPAA, and as a big fan of Indian cinema, I wish the Council great success in the future”.


    The LA India Film Council was set up in 2010, as part of a declaration between the city of Los Angeles and the Indian film industry. The initiative aims to explore mutual opportunities in fostering and encouraging partnerships between the two influential film industries.


    Filmmaker and producer Ramesh Sippy said, “We can learn from schools in LA. We should learn from each other. Create and enrich each other‘s knowledge, strengths and experiences. I feel the council can only take us forward. One thing is for sure, it will bring people of two cultures closer together.”


    Hollywood is looking at the growing Indian market even as its threatical revenues from overseas have overtaken that of US. A flood of 3D movies has also made the products popular in tough markets like China.


    “India is a preferred destination for a lot of films, and I think the LA India film council will hugely benefit both countries. We could co-create film schools and schools of technology. The mingling and merging of the two cultures is essentially the desire behind a co-production”, said filmmaker Shekhar Kapur.


    The Council focuses on developing and strengthening motion picture production, distribution, technology, content protection and commercial cooperation between the two filmmaking communities. Members of the Council’s governing body comprise powerful film guilds, government organisations, industry experts and leading companies in the areas of VFX, animation and post production from both Los Angeles and India.


    Actor Anil Kapoor said, “Without a body like this people may get connected with wrong people. A body like this can help and support those who seek guidance”.


    In recent years, the Indian film industry has globalised its reach as producers have improved the international marketability of their films by building partnerships with international domain experts. More and more producers in India are considering foreign locales to shoot their films. Previous big budget Indian productions filmed in Los Angeles include: Kites (2010), My Name Is Khan (2010), Kambakkht Ishq (2009), Kaante (2002) and Pardes (1997)


    Other joint ventures and co-productions between individual Hollywood studios and Indian production houses over the past two years alone include: Ek Deewana Tha (2012), Dum Maro Dum (2011), Stanley ka Dabba (2011), Force (2011) and Engeyum Eppothum – Tamil (2011).


    Indian investment in Hollywood has also been steadily increasing, most notably with Indian entertainment conglomerate Reliance Entertainment’s (A.DAG) acquisition of DreamWorks SKG and the launch of YRF Entertainment in Los Angeles.

  • India must act strongly against piracy if cinema is to thrive: Dodd

    India must act strongly against piracy if cinema is to thrive: Dodd

    MUMBAI: Even though the Indian cinema is thriving and poised to become a $ five billion industry in the next two years, the government must act strongly against piracy if this growth has to be sustained.

    Motion Picture Association of America CEO Chris Dodd said during his keynote address at Ficci Frames on the opening day that movies contributed about $ 640 million to the Indian economy annually. “India is the biggest movie ticket market in the world, with 3.3 billion tickets sold every year. India‘s movie industry is in transition from being a $ 3.2 billion industry until two years ago, towards becoming a $ five billion industry in the next two years,” he added.

    But he regretted that India was among the top 10 markets when it comes to copyright infringement online. He called for joint efforts between the industries to end theft of content as it is a major threat.

    Dodd quoted an Ernst & Young report which said the Indian movie industry loses around $ one billion due to content theft every year.

    He said the notion that one cannot be pro technology and pro copyright at the same time is false. It is important to build relationships between content and technology. The Indian government must act to protect against online theft, he said, adding the government should pass anti-camcorder laws since camcorders are used in cinema halls to pirate films which are then made available on Indian streets within a few days of a film‘s launch.

    He noted that it was important to end piracy in India as money is lost not just by the faces seen on the screen but also by other people like truck drivers, dry cleaners etc. who contribute to the film industry by working in it. He mentioned Creative America which is a grassroots coalition in the United States aimed at protecting intellectual property and commercial interests of Hollywood.

    He noted that in 2010, the Los Angeles India Film Council was formed to facilitate the exchange of ideas, talent and investment. This will lead to more activities, he said. The aim of the council is to also break down barriers in production and distribution. The Council will also look at harnessing the power of emerging technologies and bring artistes to collaborate on new ideas. “Film remains a key growth driver despite economic uncertainties,” he said.

    Hollywood will release around 36 films this year, he said, and the India market was a huge opportunity that the US motion picture industry is keen on tapping.

    Stating that collaboration between the Indian and the US movie industries is expected to increase, Dodd said “barriers that prevent production and distribution of content must be brought down.”

  • Post acquisition, Lionsgate sheds 80 staff

    Post acquisition, Lionsgate sheds 80 staff

    MUMBAI: Following Lionsgate’s purchase of Summit Entertainment last January, the former has begun laying off about 80 of its employees.

    Most of the layoffs came in the motion picture and home entertainment divisions, where the two companies had the most overlap and staff reductions were expected, it is said.

    The lay-offs represent 12 per cent of the combined company. Of a total staff of 675, Lionsgate has about 500 employees, while Summit has around 175. The company is aiming at bringing the number down to around 575.

    Last Friday the company announced that its COO Steve Beeks had signed a new long-term agreement and is also taking on the additional title of president of the Lionsgate motion picture group.

    “With the growth of our combined operations through the recent Summit acquisition and a combined feature film slate that is now capable of generating a billion dollars a year at the North American theatrical box office alone, Steve‘s ongoing focus on financial discipline, cost control and overhead management is more critical than ever,” Lionsgate CEO Jon Feltheimer said in a statement.

    Besides Feltheimer, Beeks will also report to Lionsgate motion picture group co-chairs Rob Friedman and Patrick Wachsberger in his new president role for that division.

  • Kodak-a notable absentee at Oscars

    Kodak-a notable absentee at Oscars

    MUMBAI: This year‘s Oscars will see one significant absentee that of Kodak as the company is cancelling its naming contract on the Hollywood Theatre.

    In the midst of bankruptcy, the Eastman Kodak company requested permission to cancel the contract in an effort to improve the company‘s financial situation.

    It has been reported that the original $74 million deal signed in 2000 gives the company naming rights to the theatre. Kodak‘s advisors now say that the benefits of having the company‘s name on the 3,300-seat venue aren‘t living up to the cost of the contract.
     
    Receiving court approval on Wednesday, Kodak is having a hard time justifying the $4 million annual cost of the 20-year contract. It is understood that the Motion Picture Academy has a say in the new sponsor of the Hollywood theatre if they choose to continue to host the event there.

    In case if the Academy chooses to move to a new venue, they lose their say on the theatre‘s name.

  • “Released for Life” wins Washington’s Best Film competition

    “Released for Life” wins Washington’s Best Film competition

    MUMBAI: Student film “Released for Life,” produced by students attending The Documentary Center at George Washington University’s School of Media and Public Affairs, was the winner at the Washington’s Best Film competition.

    Steve Knapp, President of George Washington University, D.C. Mayor Vincent C. Gray and SnagFilms founder and chairman Ted Leonsis were also present for the award ceremony and screening of the film.

    Washington’s first-ever Best Film competition was created to celebrate Washington D.C.’s talented filmmakers and find original, diverse storytellers who display the spirit and quality that D.C.-based SnagFilms seeks out in all the films it showcases on its digital network.

    Above all, the competition was looking for dynamic stories focused on improving the world around us. Participating filmmakers had to be residents of Washington D.C. or have a production company based within the District.

    The winning film, “Released to Life,” tells several powerful stories of people returning home after incarceration. With the shadow of past convictions continuing to follow them, these recently released, D.C. based ex-offenders struggle to redefine themselves in a society that they no longer know.

    “This contest is the first of many that will highlight the incredible talent that exists here in our nation’s capital,” stated Mayor Vincent C. Gray. “I congratulate these extraordinary young filmmakers on successfully tackling such an important topic and being a shining example for budding filmmakers all over the District.”

    The student filmmakers who produced the film at The Documentary Center of The George Washington University were: Jason Wilder Evans, Jatryce Jackson, Kripa Koshy, Yavar Moghimi, Hua “Lily” Qin, Erika Rydberg, Rebecca Taylor and Greg Upwall. Nina Seavey is director of The Documentary Center.

    “SnagFilms joins the Mayor and the D.C. Office of Motion Picture and Television Development in congratulating these young filmmakers, and The George Washington University, on having produced such an outstanding and important film,” stated SnagFilms’ founder and chairman Ted Leonsis.

    “We are proud to showcase ‘Released to Life’ on the SnagFilms digital network and shine a light on such a critical issue for our city and country. We hope the SnagFilms audience will watch this film, share it with others and be inspired to take action. It’s what we call ‘filmanthropy,’ and this film is a wonderful example of how ‘filmanthropy’ can engage our community and change our world.”

    The film will debut on Snagfilms.com and be available on demand, for free, worldwide. The film will soon be available on mobile devices via SnagFilms mobile apps for iPad, Android tablets, Kindle Fire and Android smartphones.

    “This is the greatest honor a first time filmmaker could want for their film! Not only is our film available to everyone online, but also the D.C. mayor and local legislators will be watching the film and taking the message back with them to City Hall,” said Yavar Moghimi, who produced the film along with his classmates as part of the 2010 GW Institute for Documentary Filmmaking.

    “We all went into documentary filmmaking because of its power to tackle tough social issues and inspire change. This recognition will help spread the film‘s ultimate message: that incarcerated people are transitioning back into society more than ever and we need to make sure they are prepared for the struggles that await them.”

  • Reliance MediaWorks to strengthen presence in South India

    Reliance MediaWorks to strengthen presence in South India

    MUMBAI: Reliance ADA Group company Reliance MediaWorks plans to deepen its presence in the Tamil and Telugu markets as it looks to expand its domestic entertainment services portfolio across films, broadcast and television commercials through strategic alliances, capacity expansion and leveraging of existing relationships.

    To strengthen the services offerings in South India market, Reliance MediaWorks has recently partnered with VenSat to expand its VFX, CG and Animation capabilities and create a studio in Chennai. It has also tied up with Annapurna Studios to manage and operate their studio facility and operate and expand the Digital Post Production facility at the Hyderabad studios.

    Reliance MediaWorks CEO Anil Arjun said, “In 2012, we plan to deepen our presence in the Tamil and Telugu market through our strategic alliances and additionally further strengthen our service offerings and leverage of existing relationships with capacity expansion and new strategic partnerships. With production values constantly going up we see a significant potential and growth opportunity.”

    Reliance MediaWorks had offered varied services such as Motion Picture Processing, Digital Intermediate (DI), Digital Cinema mastering, Promos and trailer services and visual effects for 110 out of 114 Bollywood films that released in 2011. The company also handled DI and VFX for over 65 films besides starting to offer 3D Conversion services to Bollywood Studios, Don 2 being its first domestic project.

    The company, which also operates digital restoration and content processing services facilities in India, has restored over 250 legacy films in 2011 which includes titles like Sholay, Laawaris, Devdas and Do Bhigha Zameen.

  • Online voting for Oscar awards from next year

    Online voting for Oscar awards from next year

    MUMBAI: The Academy of Motion Picture Arts and Sciences is developing an electronic voting system in association with Evertone Counts Inc. that would keep potential Oscar winners be a click away from winning a trophy from the 85th annual Academy awards next year.

    ‘Academy‘s chief operating officer Ric Robertson said in a statement that it‘s the first step his organisation is taking toward developing a secure and convenient electronic voting system.

    The Academy and Everyone Counts Inc. would exclusively work with its longtime accountants PricewaterhouseCoopers to create the new system.

    Oscar voting in the past has been compiled through paper ballots sent through the mail.

    The 84th annual Academy Awards are set for February 26.

  • Decendants, The Artist bag best film award at Golden Globes

    Decendants, The Artist bag best film award at Golden Globes

    MUMBAI: Two films have bagged the top three category awards of the 69th Golden Globe awards.
     
    Alexander Payne’s The Descendants has won the Golden Globe award in the Best Motion Picture (Drama) category while Michel Hazanavicius-directed The Artist won the award in the Best Motion Picture (Comedy or Musical) category.
     
    George Clooney won the Best Actor (Drama) for The Descendants. Jean Dujardin took home the Best Actor (Comedy Or Musical) for The Artist.
     
    On the actresses’ front, Meryl Streep won the best actress (Drama) award for Iron Lady and Michelle Williams bagged the best actress (Musical or Comedy) Golden Globe for My Week With Marilyn.
     
    Director Martin Scorsese clinched the best director trophy for Hugo and Woody Allen won the best screenplay Golden Globe for Midnight in Paris.
     
    Adventures of Tintin: The Secret of the Unicorn won the best animated feature while Nader and Simin: A Separation won the best film in the foreign language category.
     
    The 69th Golden Globe awards were announced on Sunday night.