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‘E-City Ventures’ Launches Value Cinema Exhibition Brand “Talkie Town”
Posted by Pradeep Sadanapalli | November 17, 2007 | 802 views
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Loading ...E-City Ventures, the corporate arm representing various interests in the cinema exhibition business of the Essel Group, has today announced the National launch of its value cinema exhibition brand “Talkie Town”. Promising to offer a unique movie-viewing experience, the first project got operational at Miyapur in Hyderabad.
With two screens and a capacity of 1,165 each, Talkie Town Krishna Narshima meets certain benchmarks set by major multiplexes. It offers computerised ticketing services similar to all premium cinemas; the ticket prices range from Rs 10-35.
With existing properties in Gulburga, a 4 screen multiplex (previously called Fun Junction) and its second property in Hyderabad, E-City Ventures aims to solidify and strengthen the cinema exhibition infrastructure in the hinterlands of India.
Says Mr. Atul Goel, CEO E-City Ventures, “The tier II and tier III markets are increasingly gaining importance in our business. For the year 2006-7, the business contributed by non metros was approximately 55% of the Company’s total revenues. This has encouraged the Company to focus on a hinterland roll out and expansion plan.”
Today, on average, the 400 multiplex screens contribute to almost 30-35% of the all language theatrical collections; however, the multiplex screens have gained greater importance as far as the Hindi film business is concerned. But, the remaining 12,000 single screens in the country are sill influenced by the traditional ways of working since there haven’t been any tax breaks for the existing single screens and no investments have been made to disturb the inertia of minimum guarantees. Above all, the industry players failed to realize that if a change in the business model suits the multiplex well, the same would hold true for the single screens.
In addition Mr. Goel says, “E-City Ventures exhibition plan will focus on multiplex and single screen refurbishment since 65-70% market still exists there. Talkie Town the cinema exhibition value brand of E-City Ventures would endeavour to tap the potential and roll out 250 value screens in Tier II & Tier III cities by end of 2011. “
“E-City Ventures believes in giving a better environment to their viewers which can lead to enhanced revenues for distributors/ producers and multiplexes and along with single screen refurbishment, higher box-office collections as well,” adds Mr. Goel.
In other development, E-City Ventures promoted E-City Digital has tied up with Chennai-based Real Image Media Technologies (RMIT), wherein the latter will be the technological hardware and service provider for all digital screens of E-City in India.
RIMT’s Qube servers are the only player in India, which supports both the D-Cinema and the E-Cinema standards.
E-City Digital presently operates 101 digital screens in Mumbai, Gujarat, Delhi, UP, and Nizam film circuits. By 2011, the company would have brought 1000 digital screens under its fold by adding West Bengal, Rajasthan, TN and Kerala to its roll out plan.
Goel stated, “RMIT already provides servers and technical assistance to E- City Digital for their existing 101 operational digital screens. This new alliance with RIMT further reinforces our faith in their excellent quality deliverability and will fulfil E-City’s upcoming requirement of targeted additional 300 digital screens by end of FY 08. The business arrangement is worked out in a manner that would help E-City scale up its operations with considerably less operating capital.”
Real Image Media Technologies director-technical Senthil Kumar said, “RIMT’s Qube Cinema is today one of world’s leading digital cinema companies, which has proven its superiority in quality and reliability in digital cinema not just in India but in many countries around the world, from North America to Europe to Asia. Qube Cinema is an end-to-end digital cinema solution providing the ultimate combination of quality, reliability, ease-of-use, security and flexibility at a price-point that finally makes digital cinema practical. Our association with E-City Digital dates back to year 2005. We are excited about this new alliance and are overwhelmed by the bullish trust E-City is putting into promoting the digital cinema in India.”
SOURCES:
Sify
MoneyControl
BusinessOfCinema.COM
Topics: Consumer Market, Entertainment, Business News |
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