BVG & DAR to invest Rs 1 billion in 3D movies; partners UFO

    MUMBAI: BVG Films (BVG) and DAR Motion Pictures (DAR), have joined hands to produce and release another two 3D movies, taking their total co-production pipeline to three 3D movies. The companies plan to invest over Rs 1 billion (Rs 100 crores) for the same.
    Furthermore, UFO Moviez India (UFO) has also joined hands with the two companies in this endeavour. With a total investment of over Rs 1 billion (Rs 100 crore), DAR and BVG have agreed to produce, market and release three next generation stereoscopic 3D films over the next two-three years starting with India’s first Stereoscopic 3D film Haunted 3D. Directed by Vikram Bhatt, the film is all set to hit the theatres on 6 May, 2011. The remaining two movies in this deal are edge-of-the-seat 3D action thrillers.

    Bhatt said, "A new industry is emerging and this is the dawn of that industry. When all arms of movie making come together, nothing can keep that movie making industry growing from strength to strength. This is the big coming together of Production, Distribution and Exhibition companies to keep the 3D space alive and kicking!"

    "This partnership is a gigantic step towards fast tracking the Indian 3D revolution. There is no doubt that 3D films are the future not just internationally but in India as well. Given our complete belief in this technology and the chicken and egg situation between the film exhibition and distribution fraternity and producers in India with regards 3D films, we decided to take the plunge with Vikram through this announcement and are very glad to have found likeminded partner in UFO," said DAR Capital Group chairman Arun Rangachari.
    While BVG & DAR will be spearheading the production and marketing effort, UFO plans to increase the 3D compliant theatres in the country from the current 130 screens to around 250-300 screens for the Haunted 3D release in May 2011. By the time of release of the third movie of this consortium the expected number of 3D screens in India is expected to rise to approximately 1200 screens.
    UFO Moviez India Joint MD Kapil Agarwal said, "We at UFO Moviez are committed to enhance the country’s 3D footprint and being a pioneer in this industry’s technological revolution, we are focused on bringing in this next wave of change through our innovative business model designed around state-of-the-art 3D digital cinema systems with satellite based delivery to theatres across the country. This initiative of partnering with DAR Motion Pictures and BVG Films, is an important step in our strategy to leverage the future growth potential of 3D technology. UFO’s thought leadership and innovation seeks to deliver great services that will provide wider access to audiences to compelling content, whenever and wherever."