The Hindu Business Line : UFO Moviez digitising 350 screens overseas

New Delhi June 14 United Film Organisers (UFO) Moviez expects to install 350 digital screens across theatres in Mauritius, Dubai, Sri Lanka and a few European countries before the end of this year.

UFO Moviez, digital cinema technology providers, is on track to meet its target of 3,000 screens by 2008, and expects an additional $3-million (Rs 12 crore) investment from 3i Group.

In January, UFO had raised $22 million (about Rs 90 crore) from the UK-based private equity and venture capital firm, 3i Group.

According to its Vice-Chairman, Mr Raaja Kanwar, the company may also raise additional funds through debt by the end of this year. With a current count of 750 screens in the country, the company, promoted by the Apollo Group, is further exploring overseas markets, which it expects to account for about 40 per cent of its revenues in the next two years.

Helps tackle piracy

UFO Moviez equips theatres with digital projectors and other technology and brings cinemas to screens through satellite communication. A technology that it says does not only tackle the menace of piracy but also adds value to screenings. Unlike the old system of limited number of optical prints that were distributed to prominent city theatres, UFO Moviez's technology allows for many more concurrent screenings.

"By bringing `first day first show' to many more theatres across the country, we are looking at helping them increase the average price per ticket of Rs 40 to Rs 60 for bringing to audiences the latest of releases. This also brings in a larger audience to the theatre, contributing further to revenues," said Mr Kanwar.

The company was felicitated at the International Indian Film Academy awards held at Yorkshire recently with the award for the biggest innovation in the film industry.

With 1,000 screens expected to be installed by September, UFO Moviez, which has a franchisee agreement with theatres including multiplex chains such as INOX, Cinemax and Sathyam Cinemas on a revenue share basis, is also in talks with PVR and Adlabs Cinemas.