Tips open to floating new JV for scaling up movie biz

MUMBAI: Tips Industries is open to the idea of floating a new joint venture company with an investor as partner for scaling up its movie production business.

Tips is also exploring opportunities to enter into joint venture arrangements with different companies on a project basis. The investment will be done by the partner while Tips will focus on its expertise in filmmaking.

"We are not looking at diluting stake to raise money and scale up. The best route is to do joint ventures on a project basis where we get funding from our partners. The other option is to open a new joint venture company and raise money from the partner to scale up the movie production business," Tips Kumar chairman and managing director Kumar S Taurani tells

Tips‘ focus will be to make two good movies a year. "We will scale up only if the other routes open up," adds Taurani.

Prince, Tips‘ latest release, has clocked Rs 200 million gross in the opening weekend. "The movie is getting a good response at the box-office. We plan to release Hari Om, an international movie, this fiscal. We will do one-to-two movies more during the year if we get to distribute them," avers Taurani.

Tips is likely to end FY‘10 on a revenue of Rs 800-900 million with Ajab Prem Ki Gajab Kahani accounting for Rs 600 million.

The satellite telecast rights of Ajab Prem Ki Gajab Kahani have been syndicated to Colors and Imagine TV. "We are in talks with other broadcasters for syndicating the rights," says Taurani.

On the music front, Tips will release the repertoire of titles that had stayed idle with it ever since it had acquired music companies like Weston, Time, Oriental and Vatsa years back.

"The bottom line is stabilised because of our music revenues. Digital is far to take off in India. But we get good revenues from radio, public performance and mobile," says Taurani.

Latest Reads
PVR Cinemas pilots the Delhi Edition of the Year Round Programme by MAMI

PVR Cinemas, with its storied history of becoming the leading exhibitor and an eminent platform for all things cinematic launched the Year Round Programme by Mumbai Academy of Moving Image (MAMI) in Delhi.

Movies Hindi
Banijay Asia ropes in Rishi Negi as chief operating officer

Banijay Asia, founded by Deepak Dhar, has appointed Rishi Negi as chief operating officer (COO). The group recently announced its entry into the region with a commitment of producing scripted and non-scripted content across genres including digital and films for India and South East Asia. Negi...

Movies Independent
Shemaroo gears up for digital era; adds devotional app Ibaadat

MUMBAI: Right at the opportune time, one of India’s oldest media companies, Shemaroo Entertainment, has launched a new devotional app called Ibaadat. The Islamic devotional app will contain live feeds, devotional tunes, an e-commerce platform, donation service, etc. Over time, customer feedback...

Movies Hindi
BookMyShow sells over 3.5 million tickets for Avengers: Infinity War; contributes close to 45% to its opening weekend collection in India

Avengers: Infinity War set new records on BookMyShow as it became the first Hollywood film to sell an unprecedented 12 tickets a second when the bookings were at its peak on the weekend. BookMyShow has so far sold over 3.5 million tickets for this mega blockbuster and has contributed close to 45...

Movies Hollywood
Higher numbers push up financials; 'Padmaavat' top grosser for PVR

BENGALURU: Higher box office, food and beverages (F&B) and sponsorship revenues, higher occupancy, higher average ticket prices (ATP) have helped push up Indian exhibitor PVR Ltd’s (PVR) overall numbers for the quarter and year ended 31 March 2018 (Q4-2018, quarter under review, FY-2018, year...

Movies Hindi
World IP Day celebration in Delhi and Mumbai

MUMBAI: A range of stakeholders from the local screen community united to stage a number of events in celebration of World Intellectual Property (IP) Day. This year’s theme campaigns celebrate the brilliance, ingenuity and courage of women who are driving change in the world and shaping our common...

Movies Hollywood
Zee Cinema's marketing mania for the world tv premiere of 'Fukrey Returns' on 1st April at 8 PM

The Fukra boys Hunny, Choocha, Zafar and Lali get on with their lives after successfully getting Bholi Punjaban arrested. But they are in for a shock when she returns early from prison and tries to seek revenge. The second installment of the Fukrey franchise, Fukrey Returns which earned over 100...

Movies Hindi
Eros International's Bajrangi Bhaijaan grosses over Rs.169.17 crores (USD 25.95 million) in first 10 days of release

Eros International Media Ltd, a leading global film company in the Indian film entertainment industry, announced Producer Salman Khan Film’s Bajrangi Bhaijaan has collected over Rs. 160 crores within ten days of its release in China. More than two years since it opened in India, Bajrangi Bhaijaan...

Movies Hindi
'Federation of Western India Cine Employees' conducts a successful conclave with 22 crafts union’s association

Mumbai: The Federation of Western India Cine Employees (FWICE), the nodal body for all cine employees hosted a formal get-together and benevolence meeting with the leaders of the 22 crafts union’s associations affiliated to it on 7th March 2018 at Pathare Prabhu Hall, Andheri (West), Mumbai.FWICE...

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories