Qube Cinema has announced a special relief plan for producers who want to release films after the Covid-19-related lockdown.
The Virtual Print Fee (VPF) has been discounted by 50% from the current price list for DCI and e-cinema, a statement from the company stated.
The initiative will help more films to release in theatres by reducing financial risks and creating opportunities for revenue generation.
“Though the impact has been adverse with the entire ecosystem of the cinema business, we as a part of the industry want to pass on whatever is possible from our side to revive the industry and help producers release their long-awaited films. We hope that this will help start the flow of content to theatres and help get the industry back on its feet again,” said Prabhu BMA, senior vice president – mastering and content services.
#Qube announces film distribution package for producers which discounts VPF for new releases by 50%. This special package will ease the financial burden of releasing new movies in the difficult period post lockdown. pic.twitter.com/CatycgSCAY
— Qube Cinema (@qubecinema) October 14, 2020
The 50% reduction for new films is applicable to a minimum billing of seven shows and will be valid until December 31, from theatre reopening dates in the respective states, the statement said. It also mentions that for library titles, VPF will be free and only delivery charges will be applicable.
After seven months of lockdown due to the Covid-19 pandemic, cinema halls are set to reopen from October 15 as per the Unlock 5 guidelines issued by the Union Ministry of Home Affairs. Only theatres that fall outside containment zones will be allowed to operate.
Meanwhile, film industries across India have reportedly suffered losses worth Rs 3,000 crore. With the absence of big screens, several films were released across OTT platforms. While the Tamil Nadu government has not yet allowed theatre to reopen; Puducherry, Hyderabad, and other states are ready to welcome theatre-goers by implementing SOPs such as 50% occupancy, frequent sanitisation and physical distancing.