Future Media signs ad-deal with Inox multiplexes
Our Corporate Bureau
12 September 2007
Chennai: Kishore Biyani's Future Group media arm Future Media has acquired the on-screen media rights for all Inox Leisure multiplexes in India, for the next two-and-a-half years.
Sources indicate that five companies were in the fray for the media rights of Inox. The deal mandates that any advertiser wanting to use the Inox screens must necessarily be routed through Future Media.
According to Partho Dasgupta, CEO, Future Media, the company owns rights to media properties such as televisions (Future TV is transmitted from Mumbai to all its stores across the country), visual spaces, radio (Future Radio) and a print property called My World, which is a monthly magazine circulated among Big Bazaar consumers.
It also owns the rights to ad spaces within the Future Group retail formats, and provides brands with opportunities to reach their target consumers in the ambience of consumption, be it at malls, airports, or cafeterias. This deal marks its foray into the multiplex space as well.
Presently, Inox operates 18 multiplexes, comprising 62 screens across 15 cities. It registers around 75,000 footfalls a day.
According to Alok Tandon, COO Inox Leisure Ltd., the deal will also cover Inox's upcoming multiplexes, and will fetch Inox an assured minimum level of income, beyond which revenues will be shared 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. The company is headquartered at Mumbai, and operates around 4 million sq.ft of retail space, with over 400 stores across 40 cities in the country. Footfalls, as estimated by the company, are around 20 crore this year.