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Satellite-based digital cinema network UFO Moviez India will invest close to Rs 25O-crore to convert 1,000 screens in the country over the next two-years to 3D,a top company official said.
The company today launched its next generation of 3D digital cinema solutions and will complete the conversion of 500 screens by end-this year.
“3D is the next game-changer for the Indian film industry and UFO Moviez will provide the entire solutions to create a 3D ecosystem in the country. We plan to convert 1000-screens in the country in the next 2-years at an initial investment of around Rs 25-lakh per screen,” UFO Moviez’s Executive Director,Ameya Hete,said on the sidelines of the launch here.
He said that once all the 1,000 screens are converted,it expects to break-even in the next 3-years.
The funds will partly come from the company’s internal accruals and 3i Growth Capital,a venture and private equity firm,which,presently holds a 35 per cent stake in the company.
The company’s current turnover is Rs 50-crore,Hete said. UFO Moviez,a part of the Valuable Group and Apollo International,is the largest chain of satellite-based digital cinemas with almost 2,000 theatres across India.
Asked about the impact on ticket pricing after the implementation of the technology,Hete said there would be a minimal rise. He,however,did not comment on revenue-sharing between UFO,multiplex owners and the distributors of the cinema.
Hete also added that once all the screens are converted into 3D,ticket prices would stabilise across the country.
The company will be installing two different type of projectors depending on the place,where the theatre is located. For a metro,it would have a dual projector whereas in a Tier II city,it would have a single projector,as ticket prices vary from city to city.
The company would also look at more content acquisition going forward.
Hete also said the company plans to offer 4-5 3D Bollywood films this year.
