By 121 News
Chandigarh 17th March:- UFO Moviez India Limited, India's largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens, today, launched a franchise brand NOVA CINEMAS under its subsidiary Valuable Digital Screens Private Limited (VDSPL). Over the next 5 years, UFO Moviez intends to create a network of 1,000+ NOVA Screens across India and increase the screen count of Punjab by 10 to 12%
The concept of NOVA emerged from the fact that India has one of the lowest screen counts in the world. With 9500 screens serving a population of more than 1.2 billion which amounts to only 8 screens per million heads as compared to 117 screens per million in USA and 30 screens per million in China. The Punjabi film industry is growing rapidly and there is a huge potential for exhibition business to grow in semi-urban and rural areas of Punjab. With growth in rural incomes and fast paced urbanization, there is a definite set of potential customers waiting for newer experience, translating into better exhibition-business prospect.
NOVA aims to increase the Box-office pie for the overall Film Industry. It will encourage the local populace to set-up movie theatres in their respective areas. As per the arrangement, the franchisee shall own the cinema and make the necessary investments for setting up the theater and shall be responsible for day- to- day operations of the same, while NOVA shall be responsible for putting up of the theatre at a competitive cost, providing complete branding support and taking care of programming of films at the theatre. To sum it up, NOVA CINEMAS will become the social and community hub, providing a multiplex-like experience at affordable cost across Punjab.
Commenting on the new initiative, Vishnu Patel, CEO Special Projects UFO Moviez said that India is a highly under-screened country; traditionally locals from tier- II, III & IV towns travel almost 25 kms to watch movies as there aren't any theatres in the vicinity. We, at UFO Moviez, are proud to have identified this issue and are acting as a catalyst by creating a platform called NOVA CINEMAS, which will boost entrepreneurial opportunities and in-turn stabilize the demand-supply gap in the local cinema business. Secondly, we are also addressing the biggest concern of film industry, Piracy by screening movies real-time on the day of release with high picture and sound quality. Through this initiative, we are not only bringing multiplex viewing experience to the untapped regions of Punjab but also creating employment opportunities for the natives of the state. We understand the need of movie goers from tier –II, III & tier- IV regions of Punjab and will leave no stones unturned to bring them that multiplex-like experience in a miniplex, which will ensure comfort and the best quality cinema."
Proudly being associated with this new initiative, Vikram Dhillon, CEO Eyeline Entertainment Pvt. Ltd. said that UFO Moviez' revolutionary technology has played a pivotal role in reviving & transforming the Punjabi film industry thereby turning around the fortune of several Punjabi film producers, actors and theatre owners across the state. Thanks to UFO Moviez for ideating - NOVA CINEMAS - that shall further garner a wide beneficiary base across Punjab. We are very happy that cinema lovers from interiors of Punjab will now be able to rejoice their favorite movies on their local silver screens. I, on behalf of the whole Punjabi film industry, appreciate the efforts of the company."
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