MUMBAI: The standoff between producers and multiplexes that had put the Bollywood industry under financial stress has finally ended.

The all-important meeting yesterday saw the film producers and distributors body UPDF make headway with multiplex owners in resolving the dispute over revenue-share, making way for the two-month long strike to end.

New films will start releasing in all national multiplex chains from 12 June, Mukesh Bhatt tells Indiantelevision.com.

Film producers will have to streamline supply and avoid the clutter of film releases which had halted since 4 April.

“Didn’t I tell you yesterday that we will give you good news tomorrow,” Bhatt further avers. “The strike has ended and the best part is all the plexes have agreed on our terms and have signed the agreement making way for exhibition of films from 12 June.”

The terms that have been amicably agreed upon by all national multiplex chains are: 50:50 (producers:multiplexes), 42:58, 35:65 and 30:70 for the first four weeks respectively for all films.

There is also a rider. “In case a film grosses Rs 175 million or above at the top six multiplex chains in the first week, the terms would then be 52:48 (producers:multiplexes), 45:55, 38:62 and 30:70 respectively for the first four weeks,” says Reliance  chairman Amit Khanna, who had been spearheading the truce march on behalf of the multiplexes.

With regards to distribution, another hot area of dispute, multiplexes have agreed that the release plan on theatres would be decided by the producers.

Now that the strike has been called off, the first film that will release in all multiplexes will be Vashu Bhagnani’s Kal Kisne Dekha.

Indiantelevision.com has estimated the multiplex losses to be Rs 2 billion because of the Bollywood strike.

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