No advance bookings for ‘Harry Potter’ yet

July 14th, 2011 - 6:29 pm ICT by IANS  

New Delhi, July 14 (IANS) The tickets for the final “Harry Potter” movie are still agonisingly out of reach! For, advance bookings are yet to open, with some citing revenue-sharing issues between multiplex owners and the film’s distributors.

The eagerly awaited “Harry Potter and the Deathly Hallows - Part 2″ is set to release in India Friday.

“Right now we have not agreed on the commercials of the film. We are not in a position to discuss anything officially. Everything will be finalised in the evening,” Sunil Punjabi, CEO of Cinemax, told IANS.

The profit sharing equation is that Hollywood producers, in this case Warner Brothers, get 50 percent in the first week, 42.5 percent in the second week, 37.5 percent in the third week, and 32.5 percent in the fourth week of the film’s release.

But it has been reported that multiplexes want 55 percent and want the distributors to take only 45 percent, which the latter are not agreeing to. As a result, the advance booking of the film has not opened yet.

Since there are no advance bookings, both producers and distributors are at a loss, says Punit Sahay, senior manager for programming and operations at Spice.

“The film is releasing Friday, but with no advance bookings, it is a loss for both producers and the distributors. Everything will be clear by evening,” he said.

Although Anant Verma, director and business head, DT Cinemas, refrained from elaborating on the issues, he said there was nothing major between the two parties.

“There are no major issues. A contract needs to be signed between the distributors and multiplex owners which will be done by evening. Since it was not signed, there are no advance bookings as yet,” he said.

“The initial buzz of the film is strong, there was a preview yesterday (Wednesday) and all those who saw it, appreciated it. The film will definitely release tomorrow,” he added.

Gautam Dutta, the CEO for Cinemedia, PVR Ltd, also said, “There are no issues. All issues have been sorted it.”

“Harry Potter and the Deathly Hallows Part 2″ is the last movie of the hugely popular “Harry Potter” franchise. Since 2001’s “Harry Potter and the Philosopher’s Stone”, the movies have earned more than $6 billion in global revenue.

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