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UFO Moviez forays into film distribution

Capital Market 

The board of UFO Moviez India on Monday (21 December 2020) approved the company's foray into film distribution business.

UFO Moviez announced its foray into film distribution with an intent to consolidate and position itself as a one-stop pan India film distributor. The company said the endeavor is guided by a three-fold objective model promoting fee-based film distribution, Virtual Print Fee (VPF) as a percentage of box-office revenue instead of upfront fixed charge, and zero-content risk.

The foray is to ensure films get a wide release under a totally de-risked business model. The company has adopted a fee-based distribution model in which it does not take any financial risk in the content.

UFO Moviez has partnered with Jio Studios for the nationwide distribution of their upcoming movies "Ram Prasad ki Tehrvi" and "Aadhar".

Shares of UFO Moviez India fell 0.76% to Rs 78.80. The scrip hovered in the range of Rs 76.75 to Rs 82.35 so far.

UFO Moviez India is the largest in-cinema advertising platform, with the power to impact almost 2.1 billion viewers annually through 3,500+ screens comprising of 1,800+ screens in the PRIME channel and 1,700+ screens in the POPULAR channel across 1,200+ cities.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, December 22 2020. 11:32 IST