Argentina's Inflation Tops 300%
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Wednesday, March 31,1976 JftRIETY LATIM AMERICA • FILMS 47 ARGENTINA'S INFLATION TOPS 300% Economic Conditions Choke Show Business — Producers Loathe To Start New Features — Admissions Raised With Resultant Attendance Drop — Further Handicap Is Tough Censor Policy When this Variety reporter (out even $1,000 represented a small for America. Argentinian thesps are to unspool. It was grossing hefty four million tickets in Argentina, of Madrid) was in Buenos Aires last tune converted into pesos. also more anxious than ever to peso amounts in its first two days of which would have been a fortune November the cost of a ticket to a Producers Hold Back work in other Spanish-speaking release when it was unceremon during normal times. But he had to first-run salle was 32 pesos. The of Most producers were refusing to countries so they can be paid in iously shuttered. content himself with the 15$ admis ficial exchange rate at the airport launch into new productions, since anything but Argentinian pesos. Remittances Flop sion prices. Distrib Hugo Vainikoff was 72 pesos per dollar, making the there was no telling what the film Meanwhile, most Argentinians in The economic situation started put it another way: "In the U.S., 300 nominal cost of the ticket about 45c. would cost by the time it was and out of show biz have long since seriously deteriorating in May 1973 tix pay for the cost of a print of a However black market sources finished. One of Argentina's biggest tried to invest as much money as and by mid-August of 1974 was film. Here in Argentina, we must were paying as much as 150 pesos producers, Sono Films, had ground possible in U.S. dollars as the only already critical. Before the eco sell 7,000 tickets to cover the same to the dollar, Which translated to an to a standstill four months before viable hedge against the galloping nomic troubles Argentina rank cost. Distribs receive only about 5q: admission price of about 21<t. this reporter's visit. Banks were inflation, though it is strictly illegal ed between 12th and 14th place per ticket." An ice cream bought in the film advertising 53% interest rates on and offenders are severely punish worldwide as a market for Yank Deplores 'Discounts' theatre cost almost as much as the half year deposits. ed if caught. product. Now the majors are lucky admission. Unbelievably, ticket After due clamor, the admissions Toughest Censors to get any money out at all. For ex The biggest exhibitor in Argen prices were and still are further at the end of January this year The plight of the Argentinian ample, Col-Fox- Disney topper for tina, Hortensia Ortiz of the SAC cir reduced by half that price three stood at merely 70 pesos; even so, film industry is aggravated by Argentina, Emilio Planchadell, cuit which controls about 60 top ex days a week. the rise caused a marked drop in having the toughest censorship in said in Nov. of 1975 that he had just hibition salles around the country,' In stage drama here, a topnotch attendance. Meanwhile, the peso's Latin America. Though there have gotten the bond for the money including the 3,300 seat Gran Rex, performance of Frederick Durren- value continued to plummet. In been hues and cries for two years transfer for December 1974 and lamented among many other matt's "The Visit," with a cast of 50, mid-February the black market now to have the chief censor Miguel January 1975, meaning the money regulations, the half-price dis revolving stages, and all frills in rate had reached an incredible 300 Paulino Tato ousted from the job, was blocked close to a year. At a counts during three days of the respect to sets, costumes etc. ac pesos per dollar and will probably he is still deeply entrenched. Most runaway 300% plus inflation that week. "It's the same type of public tually cost less than the cinema, 30 be a lot higher than that by the time film sources Variety spoke to felt makes for a big loss. The "remit- that attends every day," she said. this gets into print. At that ex that even if Isabella Peron were to table dollar" in November was 85 "The discounts are a sad anachro pesos. nism." Foreign film distribs were climb change rate tickets are worth 29c. lose power, Tato would remain pesos to the dollar (compared to 150 ing up the walls in frustration due to One side-effect of the inflation is where he is. Tato's last ploy, as on the black market). MPEA veep Everybody seems to agree that massive losses, as the blocked that Argentinian producers, more reported in the local film trade Griffith Johnson said that no funds the situation can't go on as it has. funds breathlessly corroded day by than ever before, must try to sell weekly La Gaceta, was to close Ken had been received by the majors However they've been saying it day. Argentinian distribs were their product abroad, if they expect Russell's "The Devils," after it had from Argentina since the spring of for years. The key to economic reluctant to release any product to ward off ruin. There has, in fact, already opened in a B.A. situation. 1975. stability, of course, is political due to the ridiculously low yield. As been a rush to do coproductions, Alan Gibson's "Strange Twins" Another example: Producer- stability, and most people seemed for buying new product, that was mainly with Venezuela whose likewise got the axe, despite it director Leonardo Favio said his to hope that would be achieved in completely unthinkable, because currency is the hardest in South already having gotten a green light film "Juan Moreira" sold close to the course of this year. Bonnet. Distribution: Transocean. Argentine Film Production, 1976 Ready for release 80% Obligatory Local Lab MBC Director: Enrique Cahen Salaberry. SPITZ Cast: Jorge Porcel, Alberto Olmedo, TE NECESITO TANTO, AMOR PIEDRA LIBRE Susana Gimenez. (I Need You So Much, Love) (Free For All) Distribution: Aries. Prod.: EmilioSpitz Work Soon; Caracas Has Five Prod.: MBC. In postproduction. Director: JulioSaraceni Caracas. shorts are handled entirely by Director: LeopoldoTorre Nilsson EL CANTO CUENTA SU HISTORIA Cast: Emilio Roca, Elizabeth Killian, Ros- Cast: Marilina Ross, Juan Jose Camero, (Singing Tells Its History) sana Falasca, Jorge Barreiro. The number of film laboratories Caribe, who also do three color Luisina Brando, Mecha Ortiz. Prod.: Aries. Distribution: Producciones Del Plata. in Caracas is increasing. At present newsreels per week. The total turn Distribution: MBC (thru Contracuadro in Directors: Fernando Ayala and Hector Oli- Ready for release. there are five of them in business, over from the front end lab is about Argentina). vera. CONTRACUADRO the newest of which is Deluxe, 38% $1,500,000 a year, with some of the Ready for release. Cast: a large number of Arg. singers. NO TOQUEN A LA NENA Distribution: Aries. ADIOS, SUI GENERIS owned by Deluxe General of Holly work on commercials exported to (Don't Touch My Daughter!) Lensing starts next month. (Goodbye, Sui Generis) wood. The remainder is controlled Central America, the Antilles and Prod.: MBC Prod.: MBC-Contracuadro by Caribe Lab, located in a twin even to Puerto Rico." Director: Juan Jose Jusid. DISTRIFILMS Director: Bernardo Kamin. Cast: Norma Aleandro, Julio De Grazia, SOLA Cast: members of the Sui Generis folk-rock building connected by a hallway. Drain On Continent Lautaro Murua, Luis Politti, Maria Vaner, (Alone) group in farewell concert. The new Deluxe lab went on line In the future, Deluxe expects to Oscar Viale, Patricia Calderon, Julio Prod.: De la Torre & Asociados. Distribution: Contracuadro July 1, 1975 and has a big Deluxe Chavez, Gustavo Rey, Pepe Soriano. Director: Raul De la Torre. About to be released. get most of its biz from the re Distribution: MBC. Cast: Graciela Borges, Luis Brandoni, ESPACIO filmline developer and processor mainder of South America with, of In postproduction. Lautaro Murua, Hector Pellegrini, Martha TIEMPOS DUROS PARA DRACULA which handles 192 feet/minute of course, all work done from nega QUEESELOTONO? Bianchi, Mabel Manzotti. (Hard Times For Dracula) release prints. The lab's director, tives rather than resorting to the (What's Autumn?) Distribution: Distrifilms. Prod.: Espacio (Argentina) — Aitor Films Lyonel Hurt, said that by mid-1976 iniquitous reversibles. Deluxe Prod. MBC In postproduction (Madrid) Director: David Jose Kohon. he hoped they would be able to use might also do prints in Caracas for UNA MARIPOSA EN LA NOCHE Director: Jorge Darnell. Cast: Hector Alterio, Nuria Espert. (A Butterfly In The Night) Cast: Jose Lifante, Miguel Ligero, Maria the official "Color by Deluxe" label distribution in the Hispano circuits Distribution: MBC. Prod.: Sifa. Noel, Adolfo Linvel, Alfonso De Grazia. for all their work. Cost of setting up in the U.S. Lensing starts in April. Director: Armando Bo. In postproduction. the lab was $500,000, of which $300,- The key to the upsurge in Vene PRODUCCIONES DEL PLATA Cast: Isabel Sarli, Victor Bo, Armando Bo. Distribution: Distrifilms. ZUPNIK 000 was for the processor, the only zuelan labs is a new law which went SONAR, SONAR... Ready for release. JUAN QUE REIA one of its kind in Latin America. Its into effect in October 1975 whereby (To Dream, To Dream...) VICTORIA (John Who Did Laugh) runner up is the processor in Mex 60% of the total of all prints ex Prod.:Choila Prod.: Bernardo Zupnik and associates. ico's Churubusco lab, which hand Cast: Carlos Monzon, Gianfranco Pag- LOS CHICOS CRECEN Director: Carlos Galettini.