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The two-month-long standoff between producers and multiplexes on revenue-sharing was resolved with both parties reaching a consensus on the issue.
Producers and distributors under the banner of United Producers and Distributors Forum (UPDF) had stalled new releases since April four over the issue.
Convenor of the UPDF and filmmaker Mukesh Bhatt said the deliberations to end the standoff ended at 3 am this morning.
Bhat said that all the issues have been sorted out.
“Revenue share over ticket sales will be distributed between the producers and multiplexes equally. Producers and distributors will retain the right to chose and release the film as per its content. Entertainment tax will not be charged where it is not applicable,” he said.
He said all new films will be released from June 12 onwards. The two month deadlock has resulted in losses worth over Rs 200 crore for producers,distributors as well as multiplexes.
Big budgeted films like Sajid Nadiadwala’s “Kambhakth Ishq”,Yash Chopra’s “New York”,Vashu Bhagnani’s “Kal Kisne Dekha Hai,” Subhash Ghai’s “Paying Guest” were among the films whose release were delayed.
The producers were demanding equal share in the ticket sales.
Similarly,the producers and distributors wanted complete control over the distribution strategy of films.
Producers and distributors were miffed that multiplexes were charging entertainment tax from consumers even in places where it is not applicable.
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