Moser Baer enters into stategic tie-up with Pyramid Saimira

Chennai, Feb 27 (UNI) World's second largest optical storage manufacturer Moser Baer today entered into a strategic tie-up with Pyramid Saimira Theatre, country's leading theater chain, for retailing home video in all their theatres.

According to the Memorandum of Understanding (MoU), Moser Baer would market all Pyramid new films under home video format in a short period from the date of release of the film.

Talking to mediapersons here, Moser Baer CEO G Dhananjayan said "this would mark the extension of the company's foray into the entertainment industry through the Indian home video market".

"With this strategic tie-up with Pyramid, Moser Baer's range of home video titles will be available at the theatres owned and managed by Pyramid Saimira, which will benefit all the viewers at these theatres to buy their own collection of videos", he added.

Pyramid Saimira was planning to produce and release around 25 films in Tamil and Moser Baer would release them in home video format across the country, he added.

Mr Dhananjayan further said "to begin with Moser Baer will be releasing Pyramid Saimira theatre's new Tamil film 'Mozihi', released on February 23, starring Prakash Raj, Jothika, Prithviraj and others in home videos within a short period to offer original home videos to Indian consumers".

"Moser Baer will be marketing this new Tamil film's VCDs at Rs 28 and DVDs at Rs 34, which will make it affordable for every movie enthusiast in the country to own the original content", he claimed.

Officials from Pyramid Saimira stated that Moser Baer's new division was in final negotiations to acquire copyrights and exclusive license for more than 7,000 titles in all major Indian languages, which would comprise a good number of movies produced till date in the country.

The officials also pointed out that according to research, India had over 26 million DVD and VCD users, growing at a healthy clip of over 25 per cent and comprising about one fourth of all television ownership in the country.

Despite the huge potential market, home video accounted for a mere seven per cent of the total film revenues of Rs 7,900 crore, the statistics further added.

UNI