New films will be released starting June 12. Bhatt said the strike delayed the release of 45 films. -- PHOTO: AFPMUMBAI- BOLLYWOOD producers and Indian multiplex officials said on Friday they resolved their dispute over revenue sharing, ending a nine-week boycott on new film releases in the movie-mad country.
'The strike has been called off,' said producer Mukesh Bhatt, who chairs the United Distributors and Producers Forum. The coalition of Bollywood filmmakers has been pushing multiplexes, which account for about two-thirds of India's box office revenues, to give filmmakers a greater percentage of ticket sales.
New films will be released starting June 12. Bhatt said the strike delayed the release of 45 films.
'Both sides were realizing that this stalemate is not in the interest of either side,' said Deepak Asher, president of the Multiplex Association of India and director of INOX Leisure, which operates 27 multiplexes across the country.
The strike left Indian audiences- who spend an estimated 63 billion rupees (S$1.83 billion) each year at theaters - with a tepid array of aging Hollywood blockbusters and regional films to choose from. It also sent theater occupancy rates plummeting below 15 per cent.
Some estimate the boycott cost the industry about US$6 million in lost revenue. Others note that it was incredibly well timed: Few movies get released during April and May because the Indian Premier League cricket season keeps audiences glued to their television sets.
Under the new deal, filmmakers and multiplexes will split revenue equally during the first week after a film's release, Bhatt said.
Asher said the revenue split in subsequent weeks will depend on how well a film does at the box office.
Both declined to reveal further details until an official announcement on Monday. -- AP
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