Thank God it’s Saturday
Star Trek. New York. Kal Kisne Dekha. Kambakkht Ishq. Coming to a multiplex near you. After almost two months, the producers-multiplex owners row is resolved. Serena Menon reportsentertainment Updated: Jun 06, 2009 00:34 IST
Kal Kisne Dekha
. Coming to a multiplex near you. After almost two months, the producers-multiplex owners row is resolved.
So, it is back to the movies for the city’s cine buffs.
Film producers called off their strike on Friday after reaching an agreement over profit sharing with multiplexes.
The contract between multiplexes and the Union of Producers and Distributors Forum will be signed on Monday.
“The strike has been called off. Everyone is happy with the agreement,” said Deepak Asher, spokesperson for the multiplexes.
Big Cinemas was the first to sign the contract on Thursday. Then ,other multiplex chains verbally pledged their support to the deal.
Multiplexes and producers were at loggerheads since April 10, as the latter wanted a fixed 50 per cent share of profits on all films.
Multiplexes wanted performance-based sharing of profits.
Now, producers-distributors of all films (including Hollywood flicks) will earn a fixed 50 per cent in week one, 42.5 per cent in week two, 37.5 per cent in week three and 30 per cent from the fourth week onward.
If a film earns more than Rs 17.5 crore at the major multiplex chains – INOX, PVR Cinemas, Cinemax, Big Cinemas, Fame Adlabs and Fun Cinemas – producers will get 2.5 per cent more in the first two weeks.