Guest ColumnRetrofit: Will ‘My Name is Khan’ survive the vagaries of the BO?

Friday after Friday, the fate of stars and their bankrollers – the producers and bulge bracket distributors – is decided on the Box Office across the world. After ‘Chak De’, ‘My Name is Khan’ is Shah Rukh Khan’s greatest acting performance. Week one and week two will determine its fate and future course. B Town is merciless, replete with crabs, says Sandeep Bamzai.

e4m by Sandeep Bamzai
Published: Feb 17, 2010 7:10 AM  | 9 min read
Guest Column<br>Retrofit: Will ‘My Name is Khan’ survive the vagaries of the BO?

Friday after Friday, the fate of stars and their bankrollers – the producers and bulge bracket distributors – is decided on the Box Office across the world. Hit ya flop is an adage as old as the hills in B Town. First day first show has become the centrifuge of all conversations in B Town more than ever with the emergence of the paradigm game changers – the multiplex and overseas market. So, the focal point is not just on first day first show, but increasingly on the opening weekend, on the lines of the US. With many Yash Raj films like ‘Fanaa’, ‘Dhoom 2’, and more recently, with ‘3 Idiots’, a new term was introduced in the lexicon of B Town - the Rs 100 crore gross BO collection over the first week. Gone are the days of 100 days and silver jubilee and golden jubilees. Rajendra Kumar, for instance, was known as Jubilee Kumar.

Amitabh Bachchan in his prime used to have his movies running forever and several concurrently at that. I remember Yash Chopra once telling me that - this is when ‘Dilwale Dulhaniya…’ became a monster hit in the mid-90s - he had never seen so much money in his life. That I thought was a staggering comment for a man who has the best body of work in Hindi cinema. People think of him only as the purveyor of chiffon romances, but Yashji has made ‘Waqt’, ‘Ittefaq’, ‘Aadmi Aur Insaan’, ‘Deewar’, ‘Trishul’, ‘Kaala Pathar’, ‘Mashaal’ and many more – seminal cinema, which has left deep imprints in the minds of the savants of celluloid.

But cinema's commercial landscape has changed indelibly in recent times. The big bang opening weekend determines the course of the film. Ticket price inflation has added to the cash registers and the contours of calculating collections have metamorphosed. Greater Mumbai and National Capital Region - Delhi now contribute as much as 50 per cent of all Box Office revenues. The monetisation of overseas territories is another tectonic shift. Something that did not exist earlier. Yash Chopra and Karan Johar's cinema has opened new vistas as non-resident Indians have begun to flock to Hindi films in disparate destinations. Between Greater Mumbai, NCR-Delhi and overseas territories, the battle is pretty much won.

On Saturday, I went to watch ‘My Name is Khan’ at a Gurgaon multiplex, which normally is cheaper than others, but to my dismay, ticket prices had been jacked up for the Fox Searchlight release. Anyway, once that was out of the way, I enjoyed the movie immensely. Maybe the Mama Jenny Wilhelmina, Georgia sequences were overdone, but the movie was taut and endearing. I loved it. It was vintage SRK, but in a new more sensitive avatar. I liked him in ‘Chak De’ as well, but here was an extremely restrained and emotive SRK. The row behind us hated the film, probably because they failed to understand the nuances. The typical - yeh to bakwas hai - litany was heard. And there and then I thought to myself; will this movie be a gangbuster hit? Will everybody take to this film and accept the line – ‘My Name is Khan and I am not a Terrorist’? My fear was that this movie would be rejected by the masses and appreciated by the classes, aka multiplexes in prominent urban agglomerates. Of course, the NRIs would flock to the theatres because SRK is a big draw with them. With this bitter sweet taste about the film, I picked up the ToI on Monday morning and saw - After ‘3 Idiots’, ‘MNIK’ adds to BO bonanza. Film critic Nikhat Kazmi gave details of how ‘MNIK’, despite all the problems with its release in Maharashtra owing to the Sena's call for a ban on the film, had done exceedingly well at the BO.

The same afternoon, I read a more illuminating piece on rediff.com by Syed Firdaus Ashraf. It said that - "My Name is Khan opened with a bang at the box office, earning a whopping Rs 85 crore ($18 million), but it saw a drop in business from Monday as the word of the mouth was not good enough to sustain the film. Though many critics loved it and so did the classes, the masses overall seem to be in a rejection mode. Says Komal Nahta, a Bollywood trade analyst, "On the whole, ‘My Name Is Khan’ is far from entertaining and also too boring for the general masses. For the heavy budget at which it has been made, it will keep its worldwide distributors (Fox Searchlight) in the red. Business in big cities, especially in South India, Muslim centres and overseas will be better, but it will be below the mark in North India as also in smaller centres and single-screen cinemas. It may be appreciated by the class audience, but the masses will reject the film."

Once the Sena supremo Balasaheb Thackeray gave the clarion call to shun the film, the buzz reached fever pitch. Sena wanted Shah Rukh Khan to apologise to the nation after he argued for Pakistani players' induction in the IPL. This created a furore and Thackeray ordered Shiv Sainiks to see that the film was not released in Mumbai and Maharashtra. It then became a political hot potato as the ruling alliance in the State tried its level best to ensure that the film's screening took place uninterrupted. Rediff.com went on to say - "The curiosity value is over, it seems. The picture has suffered a considerable drop in collections on Monday," said Vinod Mirani, another Bollywood trade analyst. Added Amod Mehra, another trade analyst, "At this moment, it appears the film will not be able to recover the cost because it has been sold at a high price."

Asked about critics loving the film and some of them even giving five stars rating, Mehra said, "Earlier, there were paid previews of the film, now there is paid review of the film." A very dangerous and telling comment of the prevailing system, naysayers notwithstanding, the film had a spectacular opening for the first weekend. Now, this was an interesting and refreshing departure from what was being reported everywhere. Let us understand that ‘MNIK’ was a very expensive film. Fox Star had paid a bomb for it (Rs 90 crore). The film was promoted very aggressively by SRK himself and the troika of Kajol, Karan Johar and SRK were practically parked in television studios. I think they were on NDTV every single night, if I am not mistaken.

On Tuesday morning, I saw another story in ET with the headline – My name is chasing 3 idiots. Was the Fox, Johar, SRK publicity machinery in overdrive? But ET's story had the same cryptic message that the rediff story had earlier. It said, "Film analysts believe the movie has done very well internationally, though in India it did better in urban centres than in smaller centres." Nahata was quoted here as well, saying more or less the same thing that he had said to rediff - It did much better in international markets compared with domestic market. Taran Adarsh, another film analyst mirrored this opinion in the story. At this point, I thought what the hell, let us check businessofcinema.com, which is more or less accurate about ground zero as far as BO is concerned.

This what it reported – ‘My Name Is Khan’ has grossed Rs 902 million (Rs 90.2 crore) worldwide in its opening weekend. Even the fact that it was a non-holiday 3-day weekend vis-à-vis both the previous high grossing films, which had 4-day Christmas weekends, did not prove to be a deterrent for Shah Rukh Khan. The movie has smashed existing global opening records in every country in which it was released this weekend. ‘My Name is Khan’ has scorched screens worldwide and raked in Rs 902 million (Rs 90.2 crore) ($19 million) worldwide in three days, making it the biggest ever three-day collection worldwide ever.

"The most exciting part is that the worldwide collections jumped every day from Friday to Saturday to Sunday. This shows that the audience is absolutely loving Rizvan and Mandira," says Vijay Singh, CEO, Fox Star Studios. Sunday GBO in markets like the US, Australia, the UK and the Middle East set new records for the biggest single day internationally for a Bollywood movie. Just to give a sense of scale, the overall weekend collections of ‘MNIK’ have been double of closest competitor ‘3 Idiots’ worldwide. Sanford Panitch, President of FIP, was esctatic over the results, saying, "While initially driven by the power of this extraordinary cast and director, it is ‘My Name Is Khan’ as a film that has captivated audiences everywhere we have opened. An incredible start to this powerful and moving film. In India, despite the issues in Maharashtra, Gujarat, Indore and other centres on Friday and part of Saturday, the film has opened exceptionally well. In states where the film opened normally, including Delhi-UP, West Bengal, Tamil Nadu, Kerala, the collections have been the highest ever.”

An accurate assessment of the situation. Yes, the film hit the bulls eye on the opening weekend, but its complex storyline has not been grasped by all and sundry. There is another trendline emerging here, if ‘MNIK’ has actually fared badly after its stunning opening. That Hindi film audiences are not willing to accept too much of terror and the Islamic backdrop. Look at what happened to ‘Kurbaan’. Then again, a couple of swallows don't a summer make. After all, ‘New York’ did very well. But Kabir Khan's handling of the plot was subtle and diffused till the second half when it exploded in your face. Again, ‘New York’ was lapped up by urban audiences and it was the first movie to be released after the multiplex-producer stand-off. The dam just burst and a fresh casting did the trick.

After ‘Chak De’, ‘MNIK’ is SRK's greatest acting performance. Week one and week two will determine its fate and future course. B Town is merciless, replete with crabs. I remember Subhash Ghai built up ‘Yaadein’ to such an extent that the world expected the Hrithik and Kareena pairing to deliver a blockbuster. The movie, sorry, gobbledygook, crashed and Ghai has never been the same again. Ask Akshay Kumar, he will tell you that you cannot take the audience for granted. Not for a day or a moment.

(Sandeep Bamzai is a well-known journalist, who started his career as a stringer with The Statesman in Kolkata in 1984. He has held senior editorial positions in some of the biggest media houses in three different cities - Kolkata, Mumbai and New Delhi. In late 2008, he joined three old friends to launch a start-up – Sportzpower Network – which combines his two passions of business and sport. Familiar with all four media – print, television, Internet and radio, Bamzai is the author of three different books on cricket and Kashmir.

The views expressed here are of the writer’s and not those of the editors and publisher of exchange4media.com.)

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HT Media posts Consolidated Total Revenue of Rs 580 crore in Q2

Chairperson and Editorial Director Shobhana Bhartia says due to lower commodity prices and control on costs there has been an improvement in operating profit

e4m by exchange4media Staff
Published: Nov 5, 2019 7:28 AM  | 1 min read
HT Media

HT Media has posted a Consolidated Total Revenue for Q2, 2020 at Rs 580 crore.

As per a statement released by the company, EBITDA for Q2’20 increased by 139%, and margins at 14% vis-à-vis 6% in previous year. This has been driven by softening of newsprint prices and continued focus on cost.

The Net Cash position at a consolidated level continues to be strong.

The Print ad revenue has declined due to sluggish volumes, even as yields have improved. National advertising continues to be soft, although local advertising witnessed growth.

Savings in raw material costs have driven improvement in EBITDA margins.

Chairperson and Editorial Director Shobhana Bhartia said, “Slowing economic growth has hit advertising spends in key categories, putting pressure on revenues across the media industry. As a result, our Print and Radio (on like to like basis) businesses saw revenues dip as compared to a year-ago. However, thanks to lower commodity prices and a tight control on costs, we saw an improvement in our operating profit. On the digital front, Shine, our online recruitment portal has shown good progress and continues to grow. Our outlook for the coming quarter remains cautious, given overall economic sentiment and macroeconomic trends. Cost-control and falling commodity prices should help protect our margins.”

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ABP Group posts Rs 15.70 crore as net profit in Q1 FY20

The group’s total operating income stands at Rs 365.55 crore

e4m by exchange4media Staff
Published: Nov 4, 2019 5:41 PM  | 1 min read
ABP

ABP Group has posted a net profit of Rs 15.70 crore in the first quarter of FY20, as per media reports.

The group’s total operating income stands at Rs 365.55 crore.

It’s net profit for the fiscal ended March 31, 2019, was down 68% to Rs 31.90 crore compared to the previous fiscal.

The Profit Before Interest Lease Depreciation and Tax (PBILDT) has also dropped 53.52% to Rs 107.12 crore.

The group has six news channels - ABP News (Hindi), ABP Ananda (Bengali) ABP Majha (Marathi) and ABP Asmita (Gujarati), ABP Sanjha (Punjabi) and ABP Ganga (Hindi).

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Zee Media posts consolidated revenue of Rs 137.03 crore for Q2 FY20

ZMCL has recorded 4.4% growth in operating revenue for first half of FY20

e4m by exchange4media Staff
Published: Oct 24, 2019 9:19 AM  | 1 min read
ZMCL

Zee Media Corporation Ltd (ZMCL) has posted a 4.4 per cent growth in operating revenue to Rs 337.6 crore in the first half of FY20, as per media reports.

It has reported a consolidated revenue of Rs 137.03 crore for Q2 FY20.

In a statement, ZMCL has said: “During the quarter, the network expanded its footprint s into Southern India through the launch of Zee Hindustan in Tamil and Telugu languages. This is intended to make the network's content accessible to wider audience.”

The operating expenditure in Q2FY20 has dropped by 21.7 per cent.

The statement further said: “EBITDA for HlFY20 improved by 34.1 per cent to Rs 1,029 million from Rs 767.5 million EBITDA for H1FY19, while the same declined by 9.4 per cent to Rs 370.2 million from Rs 408.7 million for the corresponding period last financial year. EBITDA Margin grew from 23.7 per cent in H1FY19 to 30.5 per cent in HlFY20, while growing from 24.2 per cent in Q2FY19 to 27 per cent in Q2FY20.”

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No slowdown here: In-cinema ad rates up by at least 50% for 3 big Diwali releases

Housefull 4, Made In China and Saand Ki Aankh ready to hit the silver screen this week, with the hopes of giving brands the eyeballs they look for in theatres

e4m by Moumita Bhattacharjee
Published: Oct 24, 2019 8:41 AM  | 4 min read
DiwaliFilms

It’s that time of the year again when theatres gear up to pocket maximum gains. Diwali is here and there are three films ready to hit the silver screen this week--Housefull 4, Made In China and Saand Ki Aankh. The festive period brings much joy to exhibitors, distributors and theatre owners because it ensures footfalls, giving brands the eyeballs they look for. In fact, industry experts don’t feel that economic slowdown this year has impacted in-cinema advertising. While they are concerned about three movies clashing during Diwali, they predict 50-100 per cent rise in ad rates during this period. 

Advertising moolah

Mohan Umrotkar, CEO, Carnival Cinemas, is expecting 60-70 per cent surge in advertisement topline compared to last year. “Going by the buzz and advance booking for these three releases, market is bullish. Advertisers have blocked most of the advt-slots during the festival period. Housefull 4, Made In China and Saand Ki Aankh all combined together should generate around Rs 350 crore topline at the box office during the festival week. We are expecting 60-70 per cent surge in the advertisement topline from last year. Also, this year we have added around 14 per cent new advertisers, and 4 per cent of them are first-time cinema advertisers,” he says.

But according to Siddharth Bhardwaj, Chief Marketing Officer - Head of Enterprise Sales, UFO Moviez, things have changed a lot in the last couple of years. “Since some films have not really lived up to their expectation, advertisers are spreading the spends all through the year. They are picking up far more number of titles in the year rather than focusing only on Diwali or Eid.”

“It is good for the industry because you can monetise the inventories beyond just big weeks. A lot of content- driven films have come up which has given us the opportunity to monetise more markets. It has put lesser pressure on Diwali. Most of the cinemas are sold out for Diwali. It becomes difficult to accommodate everything,” Bharadwaj opines. He also reveals that for this week, the inventories are already full.

Diwali ad rates

Experts reveal that ad rates differ from property to property and depends on location as well. But Diwali surely sees a massive hike in rates. This year, theatre owners are expecting 100 per cent rise in ad rates. While Umrotkar revealed that for Diwali, they are charging 100 per cent higher than the regular card rates, Girish Johar, trade analyst and film producer, shared that even the rates for putting up kiosks of brands go up during festivals like Diwali.

“It’s based on property. On a ballpark, ad rates double up. So if you are putting up a kiosk, they charge say Rs 50,000-25,000 for a month. During Diwali, they charge almost double because of the kind of footfalls theatres witness,” Johar revealed.

Economic slowdown? Not for Cinema!

This year, brands have been pulling back their spends on other mediums due to economic slowdown, but cinema seems unaffected. Calling entertainment business recession-proof, Johar explains, “If you see the other side, box office is up by 15-20 per cent. Yes, it is a bit subdued because the brands are in a wait-and- watch scenario. They are increasing their focus around consumption rather than awareness.”

Bharadwaj too seconded it by saying, “These are challenging times but our medium is very efficient. If you see economy has slowed down, but the cinema has grown instead.”

Clash cover

Three movies are clashing this Diwali which means shared screens and box office gains.

“It’s never good for us when two or more big-ticket films release together. If they would have come on different dates, there are chances that more advertisers will take advt. inventory in those weeks separately instead of that one particular week,” shares Umrotkar.

 

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INOX Leisure Ltd sees 42% growth in total revenue

Profit After Tax up 327% to Rs 51 crore

e4m by exchange4media Staff
Published: Oct 23, 2019 6:06 PM  | 1 min read
INOX

INOX Leisure Ltd (INOX) has reported financials for the second quarter ending September 2019.

Its total revenue has risen to Rs 524 crore with a 42% growth from Rs 369 crore in the corresponding quarter in FY19. Its EBITDA has more than doubled to Rs 107 crore with a 121% growth, while the PAT stood at an impressive Rs 51 crore, up 327% from previous year’s second quarter.

Siddharth Jain, Director, INOX Group, said: “At INOX, setting new benchmarks is now a routine, thanks to our consistently sharp focus on luxury, service and technology and our uncompromised desire to offer our patrons, nothing but the latest and the best! We are delighted with our remarkable consistency on all parameters, and we are sure about maintaining the momentum and focus on innovativeness. Content once again proved that why we term it as the ‘hero’. Thanks to the creators of such spellbinding movies, which keep inviting our guests to our properties, and allowing us to pamper them with our signature hospitality. With the launch of Megaplex, we are delighted to further our endeavor of developing experience-driven cinema destinations of global standards, and we will continue to do so. On behalf of Team INOX, I assure all our stakeholders that we will continue to break barriers and exceed all expectations.”

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Hathway Cable & Datacom reports 100% subscription collection efficiency in Q2

The broadband subscriber base has increased from the previous quarter’s 840,000 to 860,000

e4m by exchange4media Staff
Published: Oct 18, 2019 11:17 AM  | 1 min read
Hathway

Hathway Cable and Datacom has reported subscription collection efficiency at 100%, and the broadband subscriber base has increased from previous quarter’s 840,000 to 860,000 in quarter ending September, as per media reports.

It has narrowed its consolidated net loss by 74% and the operating EBITDA has been reported 15% up to Rs 107.5 crore compared to Rs 93.1 crore a quarter ago.

The total income has dropped 2%, while the expenditure is down 6%.

In the financial results, the company has said the FTTH markets are leading growth in customer acquisition.

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ZEEL posts 7.4% YoY growth in total revenue for Q2 FY20

ZEEL's domestic advertising revenue has grown 1.4% YoY in Q2FY20

e4m by exchange4media Staff
Published: Oct 18, 2019 7:51 AM  | 2 min read
ZEEL

Zee Entertainment Enterprises Limited (ZEEL) has reported a consolidated revenue of Rs 2,122 crore for the second quarter of FY20, recording a growth of 7.4% on YoY basis.

The Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was recorded as Rs 692.9 crore with an EBITDA margin of 32.7%. PAT for the quarter was Rs 413.2 crore. The Profit After Tax (PAT) for the quarter was Rs 413.2 million, with a growth of 6.9% YoY.

During the second quarter, ZEEL’s consolidated advertising revenue grew by 1.2% YoY to Rs 1,224.7 crore. The domestic advertising revenues grew by 1.4% YoY to Rs 1169 crore.

ZEEL has posted 26.8% YoY growth in Q2FY20 domestic subscription revenue. ZEEL’s consolidated subscription revenue grew by 19.0% to Rs 723.5 crore during the quarter.

ZEEL’s total expenditure in Q2FY20 stood at Rs 1429.1 crore, higher by 9.9% YoY compared to Q2FY19.

While ZEE5 recorded a peak DAU (Daily Active User) base of 8.9 million in September 2019, ZEE5 users watched an average of 120 minutes of content on the platform in the same month.
During Q2 FY20, the television network had an all-India viewership share of 18.4%.

During the quarter, ZEEL’s international business revenue was Rs 208.2 crore. The advertising and subscription revenues for international business declined by 4.0% YoY and 21.5% YoY, respectively.

Zee Music Company has registered 7.1 billion views on YouTube in Q2.

Punit Goenka, Managing Director and CEO, ZEEL, said, “I am pleased with the performance we have exhibited during the quarter. Our entertainment portfolio continues to grow from strength to strength across all formats and maintained its leading position. Our television network has emerged stronger post the implementation of tariff order on the back of a strong customer connect and brand pull of its channels. ZEE5 continued to gain traction across audience segments and markets, driven by its compelling content library and expanding list of partnerships across the digital eco-system. This strong operating performance allowed us to deliver industry leading growth in both advertising and subscription despite the tough macro-economic environment. Domestic subscription growth of 27% has reaffirmed the value proposition our television network has built over the years. The impact of tariff order has now largely settled down and has brought increased transparency along with improved monetization. Our domestic advertising revenue growth, though significantly lower than historical trend, is higher than the industry growth. We have witnessed an improvement in ad spends through the quarter and we believe that the onset of festive season along with measures taken by the government will help revive the consumption growth.”

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