Movies
Demonetisation, decline in govt ads impact UFO Q2 numbers
BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform UFO Moviez Ltd (UFO) reported a 12.8 percent year-on-year (y-o-y) decline in consolidated operating revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with the corresponding year ago quarter. The company’s consolidated operating revenue was Rs 1,388.8 million for the quarter as against Rs 1,591.8 million for Q2 FY 2016-17. Advertisement revenue stood at Rs 372 million (Rs 517 million in Q2 FY 2016-17). Average advertisement minutes sold per show per screen stood at 3.52 minutes during Q2 FY 2017-18 (5.15 minutes in Q2 FY 2016-17).
The company’s consolidated net profit after tax declined by 47.8 percent y-o-y during the quarter under review to Rs 102 million from Rs 195.3 million. Consolidated operating profit excluding other income (EBIDTA) for Q2 FY 2017-18 fell by 31.8 percent y-o-y to Rs 374.7 million (26.1 percent margin) from Rs 549.7 million (34.5 percent margin).
“The last twelve months have been extremely challenging for the entire industry on account of one-off events such as demonetisation and implementation of GST, especially for the media sector, which was most severely impacted,” said UFO’s founder and managing director Sanjay Gaikwad. “Q2 FY 2017-18 was one of our toughest quarters. Advertisement revenue declined sharply on a high base of last year combined with slowdown in government advertisement spends. Nevertheless, we continue to remain extremely positive about the long-term growth prospects of the advertising business. We are hopeful that demand will pick up in a few months. The temporary slowdown has failed to deter us and we remain focused on achieving our long-term strategic goals by entering into a scheme of arrangement and amalgamation with Qube Cinema Technologies Pvt Ltd. We believe that this consolidation will further strengthen our position to capitalise on growth opportunities as the economy revives and gains steam.”
Total expenses in Q2 FY 2017-18 reduced by 2.7 percent y-o-y to Rs 1,014.1 million from Rs 1,042.1 million. Ad revenue share (expense) increased by 9.8 percent y-o-y to Rs 155.5 million from Rs 141.6 million. Visual print fees sharing expense decreased by 24.8 percent y-o-y to Rs 153.2 million from Rs 203.6 million. Other expenses increased by 0.9 percent y-o-y to Rs 212 million from Rs 201.2 million.
The company’s expense towards purchase of digital cinema equipment and lamps in the current quarter reduced by 1.8 percent y-o-y to Rs 159.5 million as compared with Rs 162.4 million. Employees’ benefits expense during the quarter under review dipped by 2.6 percent y-o-y to Rs 194.7 million from Rs 199.9 million. Other operating direct costs rose by 8.7 percent y-o-y during the quarter under review to Rs 140.4 million from Rs 129.2 million.
Movies
Tamil film Made in Korea tops Netflix global chart, storms 24 countries
Cross-cultural drama races to No.1, marking a global breakthrough for South Indian cinema
MUMBAI: A Tamil tale has gone global at speed. Netflix’s Made in Korea has shot to No.1 on its Global Top 10 Non-English Films list, trending across 24 countries within days of release.
Premiering on March 12, the film, directed by Ra.Karthik and starring Priyanka Mohan, is the only South Indian title to claim the top spot across both licensed and Netflix original films, underlining the growing global pull of regional Indian cinema.
The story, which follows Shenba’s journey from Tamil Nadu to Seoul, has struck a chord for its emotional warmth, scenic visuals and cross-cultural appeal. Early word-of-mouth has powered its rapid climb, turning a modest release into a global talking point.
Monika Shergill, vice-president, content, Netflix India, said, “We are proud that a story like Made in Korea has become the first ever film from our south slate to land at the No.1 spot on our Global Top 10 Non-English Films list. It reaffirms our belief that there is so much more from India for the world to discover and embrace. This film stands out for blending two distinct cultures into one powerful story that explores universal emotions of love, friendship, belonging and family. At Netflix, we remain committed to championing authentic, locally rooted stories and it’s incredibly exciting to see a film like this travel so widely and connect with audiences around the world.”
Priyanka Mohan called the moment deeply personal. “Moments like these are what every artist truly hopes for. We always strive to give our best, but some films become very special in our journey as performers, and Made in Korea is one of them for me. Shenba is a character that touched my heart from the moment I read the script, and bringing her story to life has been incredibly meaningful. Working with Ra.Karthik sir was a wonderful experience. He has such clarity and sincerity in the way he tells stories. I’m also grateful to our producer Sreenidhi Sagar sir and the entire team for their constant support. And of course, my heartfelt thanks to Netflix for giving this story such a wonderful platform and helping it reach audiences everywhere.”
Ra.Karthik struck a similar note. “There are certain films you make with complete faith in the audience, believing they will connect with the emotions you are trying to convey. It is truly heartening to see Made in Korea trending on Netflix and receiving such encouraging responses from viewers, not just in India but across the world. Priyanka Mohan brought incredible dedication and sincerity to Shenba’s character, and that commitment reflects beautifully on screen. I’m grateful to producer Sreenidhi Sagar for trusting this story and to Netflix for providing such a wonderful platform for the film to reach audiences across countries.”
As the film continues to travel across borders, its success signals more than just a hit. It marks a shift, where local stories, told with authenticity, are no longer confined by language or geography. In the streaming wars, the South is not just rising. It is rewriting the script.
