Mumbai, Jun 6: Indian movie audiences were given some good news on Friday, Jun 5 when the the two month long Multiplex strike was called off after the Producers and the multiplex owners came to a settlement over revenue sharing. The movies are all set to release from Jun 12 and Vashu Bhagnani's 'Kal Kisne Dekha' is one of the first films slated for release.
Big budgeted films like Sajid Nadiadwala"s 'Kambhakth Ishq', Yash Chopra"s 'New York' were the films which have been long due as the conflict was going on.
Mukesh Bhatt, convenor of the United Producers and Distributors Forum (UPDF) and filmmaker said the negotiations to end the standoff ended on Friday, Jun 5 morning and revenue share over ticket sales will now be distributed between the producers and multiplexes equally.
Producers and distributors under the banner of the UPDF had stalled new releases since April 4 over the issue, where the producers had demanded a revenue share of 50:50 ratio from the multiplex owners. But the latter refused stating they will give 45:55 ratio, and will give 50:50 only if a film is a hit at the box office.
Bhatt said producers and distributors will retain the right to chose and release the film as per its content and entertainment tax will not be charged where it is not applicable.
During the two month deadlock producers, distributors and multiplexes have lost over 200 crore rupees.