UFO Moviez a large digital cinema network in India, on Saturday, won the award for the biggest innovation in the film industry at the 8th International Indian Film Academy (IIFA) awards held at Yorkshire in England.
UFO Moviez Ltd is the media initiative of the over USD $1 billion Apollo Group. The company digitally crunches the film to a smaller size and from its server in Gurgaon (Haryana) it is uplinked on internet and transmitted to cinema halls via satellite.
There are 700 cinema halls in India that have UFO movie systems. Mr. Sanjay Gaikwad, founder and CEO - UFO Moviez said that exhibiting film in digi form via satellite will revolutionise the way films are distributed and exhibited in India.
Within a short span of one and a half years, the company has become the worldwide market leader in its area of operations offering end-to-end digital cinema solutions and delivering films via satellite directly to theatres using a unique pay per show business model.
Recently 3i, one of the worlds leading investment funds dealing in technology and innovative products took a strategic stake in UFO by investing Rs.1000 million. The funds will be utilised to fuel UFO growth plans worldwide.
Mr. Raaja Kanwar, Vice Chairman- UFO Moviez along with Mr. Sanjay Gaikwad, founder and CEO - UFO Moviez. The award was a unanimous decision of the IIFA Advisory Board comprising Amitabh Bachchan, Karan Johar, Ramesh Sippy, Jaya Bachchan, Pahlaj Nihlani, Shyam Shroff, Vinod Khanna, David Dhawan, Manmohan Shetty and the Management committee of IIFA.
IIFA is a first of its kind to promote Indian cinema, globally. It has been established to recognise, honour and celebrate the achievements of the Indian film industry in the arena of world cinema.
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