Standoff between producers and multiplexes resolved
June 5th, 2009 - 8:00 pm ICT by ANIMumbai, June 5(ANI): It’s official. The two-month-long standoff between producers and multiplexes on revenue-sharing was resolved on Friday after a breakthrough meeting between the two parties reached consensus on the issue.
Mukesh Bhatt, Convenor of the United Producers and Distributors Forum (UPDF) and filmmaker said the negotiations to end the standoff ended on Friday morning and revenue share over ticket sales will now be distributed between the producers and multiplexes equally.
Producers and distributors under the banner of UPDF had stalled new releases since 4th April over the issue, where the producers had demanded a revenue share of 50:50 ratio from the multiplex owners but the latter refused stating they will give 45:55 ratio, and will give 50:50 only if a film is a hit at the box office.
Bhatt said Producers and distributors will retain the right to chose and release the film as per its content and Entertainment tax will not be charged where it is not applicable.
Bhatt confirmed that new films will be released from next Friday onwards.
During the two month deadlock producers, distributors and multiplexes have lost over 200 crore rupees.
Big budgeted films like Sajid Nadiadwala’s ‘Kambhakth Ishq’, Yash Chopra’s ‘New York’ were the films which have been long due as the conflict was going on.
The first film to release will be Vashu Bhagnani’s Kal Kisne Dekha, which is slated to release on June 12. (ANI)
- New movies in multiplexes from June 12 - Jun 06, 2009
- Bollywood rejoices after settling dispute with multiplexes (Lead) - Jun 05, 2009
- No advance bookings for 'Harry Potter' yet - Jul 14, 2011
- Strike over, multiplexes in two minds over telecasting T20 matches - Jun 06, 2009
- Producers strike cost Bollywood Rs.3 bn - Jun 05, 2009
- Multiplex owners happy with revenue sharing solution - Jun 05, 2009
- Production houses announce release dates of major films - Jun 05, 2009
- Bollywood producers reach deal with multiplexes, end strike - Jun 05, 2009
- Producer-multiplex revenue sharing talks end in stalemate - May 05, 2009
- Get ready for a rush of new releases - Jun 06, 2009
- Kal Kisne Dekha hai release pushed ahead further - May 25, 2009
- 'Kal Kissne Dekha' - of love and supernatural powers (IANS Preview) - Jun 08, 2009
- '3 Idiots' helped multiplexes out of strike slump - Feb 09, 2010
- Bollywood on self-healing path with four hits - Aug 25, 2009
- Has Aamir's toilet cleaning vow gone for a toss? - Apr 27, 2009
Tags: 4th april, convenor, crore rupees, deadlock, distributors forum, entertainment tax, filmmaker, friday morning, ishq, kal, multiplexes, new films, next friday, producers, revenue share, sajid nadiadwala, standoff, ticket sales, updf, yash chopra