Financial Daily from THE HINDU group of publications
Friday, Jun 24, 2005
Financial Daily from THE HINDU group of publications Friday, Jun 24, 2005 |
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Marketing
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Channels and Franchises Paramount Films revamps distribution Our Bureau
Mumbai , June 23 PARAMOUNT Films of India Ltd (PFI) has revamped its distribution activities in India, entering into strategic deals with local distributors. Accordingly, PVR Pictures will distribute Paramount films in Delhi and Gurgaon; Eurasia Visuals will distribute films in Uttar Pradesh and the traditional film circuit of East Punjab and Rajasthan; Shringar Films will do the same in Maharashtra, Gujarat and the traditional film circuit of Central Province and Central India, and Hansa Pictures will do the distribution in Tamil Nadu, Andhra Pradesh, Karnataka and Kerala. PFI will continue to distribute films in the cities of Mumbai, Kolkata, Bangalore, Hyderabad, Secunderabad and Chennai. When asked, Mr Kurt Rider, Vice-President (Sales & Marketing-Asia), Paramount Films, said that the company's move was triggered by the growth of multiplexes in India. "That was really the catalyst," he said. At present, the Indian box office collection for films from the Motion Picture Association of America (MPAA) is growing at 10-15 per cent. Even if collections grew annually at 10 per cent for the next 5-6 years, the market would have doubled, he pointed out. Notwithstanding prospects of growth, India is currently ranked low in terms of box office collections for these films in Asia. The market is led by Japan, Korea, Taiwan, Hong Kong, Singapore and Thailand. "Collection in India will go up," Mr Rider said. Unlike Sony Pictures and Warner Bros, the Paramount-Universal combine is yet to have co-productions in Asia. "Currently there are no plans. We are still collecting information," Mr Rider said. However, he expected some developments in co-production to be in place over the next 5-6 years.
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