Click to play videoMumbai: The two-month-long deadlock between film producers in Mumbai and the distributors who take the films to various multiplexes across the country finally ended on Thursday June 4, 2009.
It took a twelve-hour marathon meet between the two warring factions of film fraternity to resolve the crisis across the table as they sat at Yashraj studios till late Thursday night.
Finally, film producer Mukesh Bhatt said, “The good news to my audience is that the deadlock is finally over. The embargo which was on between the multiplexes and the prodeucers has finally come to an end.”
The dispute over revenue sharing and distribution strategies was resolved with a final agreement from both the parties.
Director of INOX, Deepak Ashar said, “Both sides are happy with the agreement. Hopefully that should be good for the industry. It will make sure that the bottle-neck of releases now will go forward. We can now focus our energies on doing things that are good for the industry as a whole. The issues that need to be tackled now are piracy, regulatory regime or the particularly high entertainment tax levels.”
The last known figures for revenue sharing for all films in single screens as well as multiplexes was 50, 42.5, 37.5 and 30 for the 1st, 2nd, 3rd and 4th weeks respectively.
While both the parties are yet to sign the dotted line, the final figures will be revealed in a press release on Monday.
Meanwhile, the dry spell at the box-office has cost the industry dearly, a few crores that will be tough to make up.
But the producers consider this no loss at all.
I am sure most of my colleagues have made very good entertaining films and that should convert into box office bonanza."
"Some films were ready and they will release now. These films would therefore have not lost the revenue and the revenue will happen now, instead of two months earlier,” added Deepak Ashar.
With the IPL Twenty 20 Cricket matches getting on to a start, the films will have some competition. But for a start, at least the ones waiting for release can cut their losses.
"We have resolved all the issues. We have exchanged some papers but the press release will come only after the lawyers from both the sides sit together and resolve the issue and when the dotted line is signed on Monday. It took so much of time because we didn't want to miss on any detail and we made sure we take care of all the intricacies. But the most important thing is this that everything has been resolved and everyone is happy. Now I am all set to release my film Jash which is slated for release on July 10," filmmaker Mukesh Bhatt told CNN-IBN.
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