Date:12/09/2007 URL: http://www.thehindubusinessline.com/2007/09/12/stories/2007091251990500.htm

Back Future Media inks ad deal with Inox multiplexes

Inox assured of minimum level income

A file picture of visitors at the Inox multiplex in Chennai.

R. Ravikumar

Chennai, Sept. 11 Future Media, the media company of Kishore Biyani’s Future Group, has acquired on-screen media rights of all Inox Leisure multiplexes in the country for the next two-and-a-half years.

According to people in the know, there were five companies in the fray for the media rights of Inox. As per the pact, any advertiser who wants to use Inox screens must go through Future Media.

“Future Media, which owns rights to media properties such as televisions (Future TV being transmitted from Mumbai to all its stores across the country), visual spaces, radio (Future Radio) and a print property called My World (a monthly magazine circulated among Big Bazaar consumers), within the Future Group retail formats, provides brands the opportunity to reach target consumers in the ambience of consumption, be it at malls, airports, cafeterias. Now, with this acquisition, it forays into the multiplexes space,” said Mr Partho Dasgupta, CEO, Future Media.

According to him, the company is currently in the process of acquiring media rights of non-Future Group companies. It recently acquired the media rights of 22 Camac Street Mall in Kolkata.

Inox currently operates 18 multiplexes and 62 screens in 15 cities registering around 75,000 footfall every day.

“The deal will go on to include Inox’s upcoming multiplexes as well,” says Mr Alok Tandon, Chief Operating Officer, Inox Leisure Ltd. The deal will fetch Inox an assured minimum level of income beyond which it will be on a revenue-sharing basis with Future Media.

Future Media India Ltd is a part of the Future Group, which owns multiple retail formats such as Pantaloons, Big Bazaar, Food Bazaar, Central and HomeTown. Headquartered in Mumbai, the company operates through 4 million sq.ft of retail space, has over 400 stores across 40 cities in the country. The company expects around 20 crore people to walk into these stores this year.