Multiplexes, Warner Bros tiff over
New Delhi, July 15, 2011
First Published: 11:51 IST(15/7/2011)
Last Updated: 14:25 IST(15/7/2011)
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Warner Brothers and Indian multiplexes reached a consensus well before the release of Harry Potter and the Dealthly Hallows: Part 2. The studio has at last conceded to the demand of multiplex owners.
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The two parties were fighting over profit sharing ratio of the film. While multiplexes
were demanding 55% share, Warner Brothers wanted 50% share in profits.
An MoU was signed last year regarding the revenue sharing pattern between distributors and multiplexes. According to the agreement, the ratio was 50:50 in the first week, which would then be reduced to 42.5% in the second week, followed by 37.5% in the third week and 30% in the fourth week.
Cinemax CEO Sunil Punjabi told indiantelevision.com: "They (studio) have finally given in. Though I can't give you the figure right now, all I can say is that the decision has gone in favour of the multiplexes. We are going to show the film."
According to Warner Brothers, multiplexes never asked for a raise in share during the release of Transformers.
Punjabi clarified to the site, "Transformers released on 29 June when the MoU was still effective; it expired only on 30 June. While we were about to talk to various Hollywood studios about our demands, the Harry Potter and the Deathly Hallows: Part 2 issue cropped up."
All's well that ends well.