MUMBAI: While talks failed today between the United Producers and Distributors Forum and multiplexes over revenue sharing terms, the newest entrant in the film production space – People Pictures – will go ahead and release its movie 99 in multiplexes.
People Pictures was supposed to release its movie across India on 8 May and had also rolled out its outdoor publicity campaign to the same tune. However a final call was to be taken post the meeting today between producers and multiplex representatives. The company has now decided to release the movie next week on 15 May.
Speaking to Businessofcinema.com, People Pictures CEO Aditya Shastri says, "Our film has been ready and we really cannot afford to hold the release any longer. We have got fair revenue sharing terms from multiplexes and hence we have decided to go ahead with the release of 99."
However, Shastri declined to part with the exact terms of revenue sharing.
As was first reported by Businessofcinema.com, Percept Picture Company was the first to sign its movie slate for 2009 with multiplex chains despite the tussle between producers and multiplexes over revenue sharing terms. The company signed its entire line up of movies for 2009 in order to ensure the release of the Akshay Kumar starrer 8×10 Tasveer in multiplexes on 3 April. However, Eros International chose to release its movie Aa Dekhen Zara in single screens only, when faced with a similar situation last month.