No Hollywood films in plexes this week either?
Audiences may be kicked about watching Captain America (3D), Final Destination 5 (3D) and Winnie The Pooh, but there is no promise from the studios and distributors that the films will be screened in multiplexes today.hollywood Updated: Aug 12, 2011 14:03 IST
Until a day before the release of Rise Of The Planet Of The Apes, the studio backing it, Fox Star Studios, claimed they were still negotiating terms of the revised profit sharing ratio with multiplexes. Result: it opened at 450 single screens around the country, but none of the leading multiplex chains screened it. Now, a week later, audiences may be kicked about watching Captain America (3D), Final Destination 5 (3D) and Winnie The Pooh, but there is no promise from the studios and distributors that the films will be screened in multiplexes today. “The matter is under discussion and we cannot comment on the same. Captain America, however, will release in single screens,” says the spokesperson for Viacom 18.
Two years ago, the plexes’ and distributors’ sides signed a MOU, agreeing to split the profit from the film’s first week in half, followed by 42.5 per cent for distributors in the second week and 37.5 per cent in the third. The MOU expired on June 30. The plexes are now demanding a 55 per cent share in the profits in the first week, reducing the distributors’ share to 45 per cent in the first week, 37.5 per cent in the second, 32.5 per cent in the third and 25.5 per cent in the fourth.
Unfortunately, since not many single screens around the country are equipped with 3D technology, Captain American and Warner Bros’ Final Destination 5, both of which are being touted for their special effects, will not be able to make the most of the situation. However, Walt Disney’s Winnie The Pooh is expected to release at PVR Cinemas apart from some smaller chains.
Although neither multiplex nor studio chose to give the verdict on the release of the films at the time of going to print, Denzil Dias, deputy managing director (theatrical), Warner Bros said, “We are working with each of our multiplex partners to find the best possible way to resolve the revenue sharing issue for Harry Potter And The Deathly Hallows Part Two, as well as Final Destination 5.”