VIJAYAWADA: Vijayawada-based entertainment company, Y Screens has signed a Memorandum of Understanding (MoU) with north Indian company UFO Moviez India Ltd to develop more Y Screen Trade Develop Centres (TDCs) in south India. Under this MoU, Y Screens and UFO together will build 1,600 screens by 2022.
Y Screens CMD Y Ratna Kumar told newsmen here on Friday that Y Screens came up with a new concept of screening movies directly and avoiding the disputes between theatre owners and film distributors, resulting in achieving huge profits. “By partnering with UFO Moviez, we would establish 400 screens and 200 Trade Development Centres across the State by 2019. At present, our TDCs in Kovvur, Kakinada, Rajamahendravaram, Rajanagaram and 10 other places across the State are delivering entertainment and public utility services under a single roof.”
UFO Moviez chief executive officer Vishnu Patel said that till date, the company focused on their operation in the northern part of the country, but now, under the expansion of services, they moved to south by partnering with Y Screens. “Till date, we released over 10,500 films in 22 languages. Soon, we would come up with screens in the southern region. The State has got a great scope for entertainment industry. In future, we would also bring Nova Cinemas, which screens low-budget films.”