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Nov 29, 2011, 08.03 PM IST
Kamal Jain, group CFO (India) of Eros International Media tells CNBC-TV18 that with Ra-One, Rockstar and Desi Boyz doing well at tyhe box-office, and their new iPad application kicking off well, the year-end is slated to be a good one for them.
Kamal Jain, group CFO (India) of Eros International Media tells CNBC-TV18 that the film has received accolades not only in India, but has also had a good opening in UK, US and the Middle East. ďAlmost 75-80% of the cost was recovered even before the movie came to the theatre through satellite licensing, music and other deals,Ē he says.
Rockstar too has been in the kitty drawing good revenues for the company in this quarter. Not to forget Ra-One and the film library they are monetising through the latest iPad application. Jain expects a bumper quarter and a stellar finish to the year this time around.
Below is the edited trabnscruipt of the interview. Also watch the accompanying video.
Q: Give us an idea of how much you have already raked in for Desi Boyz and have you recovered your initial cost?
A: Desi Boyz has definitely reported a successful opening as far as weekend is concerned. We have collected Rs 63 crore worldwide for the weekend is concerned. I think itís a very good performance from the movie, and it has definitely been appreciated across. Itís picking up good word of mouth and I think it will see a good run through the week as well. In fact, overseas also, the film has certainly done quite well in UK, US and Middle East. The chemistry between John and Akshay has been appreciated and it is a wholesome family entertainer. We are really happy with the performance of the film Desi Boyz and we are anticipating good numbers.
As far as recovery of cost and profitability of the film is concerned, as per our model, we pre-licensed most of the stuff, and in this case also almost 75-80% of the cost was recovered before the movie came to the theatre through satellite licensing, music and other deals. After the first weekend, the movie is already into profitable zone. So we are very happy with the performance overall.
Q: So what are the trade pundits telling you on how much are you likely to make on Desi Boyz going forward?
A: As I mentioned, since the opening weekend has shown a very good trend, so going forward we are anticipating to rake in good numbers overall.
Q: Any indication of a likely figure? What you are hearing, what is likely, what you are expecting?
A: Canít say anything about it in terms of expectations of the number, but definitely looking upwards because the word of mouth is really great, and during the week also, the movie is picking up. I think towards the end of the week, it should do really well.
Q: In Q3, the movie Rockstar is also a part of the kitty, could you tell us atleast how much Rockstar made for you all?
A: Rockstar also has done well. Rockstar is basically one the biggest opening of Ranbir Kapoor till date and seventh largest opening ever in terms of day one opening and weekend collections were definitely good. I think it did about Rs 63 crore gross in the first week itself, and after post-weekend also, it has really done a good number. I think we are looking upwards of Rs 100 crore in terms of gross numbers as far as India is concerned. So Rockstar also has done good to us and definitely itís been appreciated across and itís again a profitable venture for us.
Q: It seems like you have had a slate of successful releases this quarter. Just give us a sense of what the second half of FY12 is looking like in terms of revenue bump up for you, especially focusing on the quarter underway?
A: This is going to be a quarter as anticipated by us. Q3 has definitely done well for us because in this quarter, we have Ra-One which has really done wonderful collections. Worldwide gross is closer to Rs 230 crore as far as Ra-One is concerned, and similarly, Rockstar also has done wonderful collections, and now we have Desi Boyz.
So, all these numbers are certainly as per expectations and we are looking upward in terms of achieving the Q3 numbers. The guideline that we have given for this particular financial year is 30% over the topline of last year, as well as on the bottomline.
We are pretty much in the range of achieving all the targets what we had suggested, and anticipating further good numbers from the movies to come.
As far as our catalogue monetization is concerned, thatís also looking upwards in terms of Q3 and Q4. We have just recently launched an iPad application which within 24 hours of its launch became number one application worldwide in entertainment category and 10th largest across all categories! So we are getting good response to that iPad application also wherein we are monetizing our 900 film library. So, I guess this is looking like a very good quarter and a good year.
Q: Give us a sense of what other releases we can expect for the second half of FY12 and how exactly have you begun monetizing them in terms of satellite rights etc?
A: As far as balance period is concerned, there is a couple of big movies still pending which you will see. Agent Vinod is releasing in February, so thatís another big movie which is coming up, and couple of films are also planned in this particular year itself. Then we have a big slate which we have already announced for FY13. FY13 we have more than 50 film announced. We have films like Houseful 2 releasing in early April and then we have films like Khiladi 786 which is again an Akshay Kumar starrer. We have couple of films with Shahid Kapoor and a few with Saif Ali Khan too. So, the slate is already filled for FY13, and we continue to increase our number of films as far as FY13 is concerned. So we are looking upwards for good number of FY13, more than what we are looking at in FY12.
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