IFC pockets Rs 5 billion at 2008 box office

MUMBAI: The Indian Film Company (IFC) has announced that its releases since 1 April, 2008 have accumulated an estimated Rs 5.05 billion in gross worldwide box office takings.

The company claims to have in 2008 set new opening week and opening weekend box office records on two occasions. In August, Singh Is Kinng created a new worldwide and India opening week and opening weekend box office records which was later broken in December by the Aamir Khan-starrer Ghajini, also released by TIFC in India.

According to IFC, Ghajini set record breaking opening weekend and opening week gross box office takings in India with Rs 700 million and Rs 1.1 billion respectively.

Ghajini was released on 1,500 screens across India, while Singh Is Kinng had been released on 1,400 screens.

In October, the company released Golmaal Returns while in May IFC released two co-productions - Bhoothnath and Ranga Panduranga, a Telugu film which marked the company‘s entry into regional cinema.

Recently, IFC‘s first international film, Little Zizou, won awards for Best Director, Best Screenplay and Best Producer at international film festivals in New York and Singapore.

In 2008, IFC also set a new model in the Indian film industry for the sale of music rights for a limited period by selling the Singh Is Kinng soundtrack rights for a limited duration, the company said. This practice was repeated for Kidnap and Dil Kabaddi.

IFC CEO - advisory company Sandeep Bhargava said: "The fact that our releases have dramatically broken previous industry records speaks volumes for the quality of the film slate, as well as hard work of the team in maximising the revenue potential of the portfolio through innovative marketing and distribution strategies. 2008 has been a record breaking year for IFC and the company is well placed to continue strengthening its position in 2009."

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