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After digitising over 4,000 cinema screens in India, UFO Moviez will now spread its wings to Pakistan, Sri Lanka and Bangladesh.
The Mumbai-based company, which specialises in satellite-based film distribution, is scouting for partners who will deploy its technology in those countries.
“We have assessed Pakistan, Sri Lanka and Bangladesh and find that the potential is huge,” said Kapil Agarwal, the company’s JMD.
“We are already in talks with some interested parties. All possibilities, including a joint venture and various kind of technology partnerships, are being considered.”
However, privately-held UFO Moviez, whose backers include 3i and Providence Equity Partners, does not intend to have a direct presence in any of these countries.
In digital cinema, hard discs, satellites or other forms of electronic transmission are used for movie distribution/exhibition as against physical cinema prints.
Most Hindi filmmakers now prefer the digital medium, although accompanied by a small number of prints.
However, the makers of Dhoom 3 set a precedent by ensuring that no physical reels of the movie are available.
This means cinema halls that do not have digital technology will not be able to exhibit the movie.
The Pakistani public has a huge appetite for Bollywood films. Many are simultaneously released there following the removal of import restrictions in 2006. Today, Pakistan has about 60 operational cinema screens, against 600 in the 1980s, Agarwal told Business Line .
Experts believe the political regime in the 1980s ruined that country’s film industry by imposing very high entertainment taxes and strict censor policies.
Bollywood movies have brought people back to cinemas and led to the construction of new multiplexes in major cities. With most Bollywood and Hollywood films going digital, the onus is now on the cinema owners to follow suit, said Agarwal.
“More content will start becoming available as we digitise screens in Pakistan. This will bring many of the non-operational theatres back to life,” he said.
Bangladesh and Sri Lanka too are in the early stages of adopting digital cinema. While Bangladesh has 100 operational screens, Sri Lanka has 250, added Agarwal.
UFO Moviez is shoring up its international presence as the domestic market has nearly saturated. In India, Agarwal expects all existing cinema screens to go digital in the next six months.
The company plans to invest about Rs 120 crore in its operations next fiscal.
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