Krian Media announces a revolution in cinema distribution
With an aim to eradicate the compete use of the Non-DCI platform in India and upgrading up to global DCI standards and motivating the increase of footprints for the release of Hollywood films in India. Ranjit Thakur, Founder & President of Krian Media launched a path breaking, revolutionary cinema distribution platform using the most technologically advanced and equitable 2k cinema deployment plan ever.
Ranjit Thakur said, “There is a clear gap in the way digital cinema is positioned in India. The first objective is to bring it at par with the world DCI Compliant Standards. Our goal is to bring about equilibrium in the system by giving each stake holder its rightful benefit that digital cinema presents. While Producers should clearly benefit from the VPF, exhibitors should benefit by way of largely increased advertisement revenues and ownership of equipment. We completely respect the contracts that the existing integrators have with the cinemas. However just like water finds its own path, exhibitors will find a way to do what is right for their business.”
The move will encourage producers to release their films in 2K format while the plan will largely benefit all stake holders in the business. The first phase of conversion of approximately 2,000 screens to the DCI Platform will cost Rs.390 crores. This is being funded by an angel investor as a combination of debt and equity. The debt is being secured though a VPF Lock Box in which all the VPF will be deposited. Post the repayment of the debt, Krian Media will have access to the overflow of funds generated out of the VPF. At the end of the VPF term, exhibitors would get to own their DCI equipment at virtually no cost and hugely benefit from the increased advertising revenues generated organically from the business. Krian Media will merely act as a consolidator for the advertisement business and will pass on 70% of the revenues generated back to the exhibitor. More importantly, it will work strategically with the exhibitors under its deployment plan to grow the advertisement pie. The flexibilities that digital cinema provides along with the growing DAVP revenues in time to come will be biggest growth factor for every exhibitor in India.
The announcement was made at Krian’s Mumbai property where an illustrious panel of distinguished and eminent personalities from media and entertainment gave their views about the unique development. Mukesh Bhatt - Vishesh Films, Neeraj Goswamy - Viacom 18, Kulmeet Makkar - CEO Guild gave their views at the event which was moderated by actor and filmmaker Viveck Vaswani.
Mukesh Bhatt, former president and senior member of Producers Guild of India states that “We are happy to support initiatives such as these which can fuel growth of the industry. We keenly await Ranjit Thakur and Krian Media to unfold their digital cinema deployment strategy promising DCI compliant cinema projection in line with global quality standards and at the same time bringing VPF pay out under the sunset ambit as offered by digital integrators worldwide”
Neeraj Goswamy – Sr. Vice President Sales & Distribution at Viacom 18 Motion Pictures said “This is a much needed digital deployment plan that will benefit the entire film industry at large. Finally there is an end date of paying VPF for Hindi and Other local content. Congratulations to Krian Media for putting this deployment plan together"
Sameer Joshi , Owner of Chandan Cinema , Mumbai said “Single Screen’s and Non Major Multiplexes will now get to own the DCI Equipment and also reap the benefit of the growing on screen advertising revenues on an annual basis.
Vinod Iyer, Partner of Crown Theatres, Calicut said “We hope that this plan from Krian Media will bring equilibrium to the ongoing issues in The South Indian Film Industry with respect to digital charges. I’m sure that the respective film chambers will find a way to work though the current hurdles and take advantage of the win - win business model launched today. For smaller group of Cinemas to be able to retain their advertising rights is a dream come true"