Reliance Entertainment demands 60% revenue, exhibition sector and trade restless
As cinema lovers slowly trickle back into movie theatres in the post-COVID world, Bollywood is in dilemma due to the revenue sharing issue between PVR, INOX and Cinepolis, and distributor Reliance Entertainment. This has impacted the release of Akshay Kumar, Ranveer Singh and Ajay Devgn starrer Sooryavanshi.
Sources told Bollywood Hungama that Reliance is demanding 60% revenue from the national chains in the first week. However, the top three chains are not willing to give a cent more than 52.5%. The national chains believe that giving more revenue to Sooryavanshi would mean setting an example for every film that’s set to release this year.
“The exhibition sector is worst hit by the pandemic, as unlike the producers, who make money from satellite, digital and music too – they have no other source of revenue. Hence, they are in no mood to compromise and sticking to their guns to 52.5%,” the source said. However, Reliance is not willing to budge and is adamant with its demand of 60% revenue share in the opening week.
According to Bollywood Hungama, Reliance is of the opinion that they waited long to support the cinema and now, it’s time for cinemas to support them with additional revenue. “They believe that this is the least that they deserve for not taking a direct to digital route. Both of them are standing tall on their ideologies and this has resulted in advance status going for a toss as over 1500 screens in India have held back on opening advances,” the report says.
Moreover, Reliance Entertainment is also demanding 60% revenue share for Kabir Khan’s sport biopic 83 which stars Ranveer Singh. The source highlighted that they don’t want to go through the same tedious process of fighting the exhibitors again in December. “Hence, they are asking the national chains to sign a contract of 60% revenue share for both Sooryavanshi and 83.”
Also Read: Boeing gets go ahead for satellite internet project
However, this demand has been blatantly refused. An exhibitor said they were hopeful for Diwali and was looking forward to start Sooryavanshi bookings way in advance. “Sadly, Diwali day is here and our bookings still haven’t begun. After ages, so many moviegoers have come to our cinemas and are calling us, and asking about booking tickets of Sooryavanshi,” he said. “It is heartbreaking to tell them that we haven’t started selling tickets.”
Pingback: There is high expectation for multi-star cast Sooryavanshi.