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MUMBAI:
The television and movie content companies are combining in
India as a way to scale up their businesses. Eros International
Media, the leading global company in the Indian film entertainment
industry, and Endemol India, producers of some of the most
spectacular television content, have entered into a strategic
alliance to co-produce three feature films as well as original
programming for television.
The
deal will allow Endemol to penetrate into the mainstream Bollywood
market while Eros gets an opportunity to enter into the television
content business. While Endemol is widely known for its versatile
TV formats across genres, Eros has a vast film library.
Says
Eros International Media Executive Director Jyoti Deshpande,
"We both are IP driven companies and Eros having been
market leaders in the filmed entertainment arena, while film
co-production has its natural synergies, we will also create
original high quality compelling television content as digitization
takes Indian television into the premium subscription phase.
The alliance is founded on the coming together of our respective
core competencies in film and television."
As
a part of the three film deal, Eros and Endemol will be co-producing
an action comedy which will be a remake of a South Indian
blockbuster, an original romantic comedy and a comic caper.
The
collaboration has earmarked Rs 1 billion to fund these three
productions. Targeted at Bollywood enthusiasts across genres,
the first film to be made will be a romantic comedy, which
will go on floors later this year.
Says
Endemol India CEO Deepak Dhar, "After successfully producing
content for some of the biggest format shows in the country,
we are expanding our portfolio to films and are delighted
to partner with leaders in this space. Through this association,
we look forward to making a mark on the big screen as well."
Television
formats and original programming for television is another
area that Eros and Endemol plan to collaborate on. Many of
Eros owned filmed Intellectual Property Rights will be considered
for adaptation for the television format and vice versa for
Endemol owned IP.
The
production house, which holds IP rights for various scripted
and non-scripted formats, had entered the film production
business last year taking the re-make rights for Sujoy Ghosh's
Kahaani.
Endemol
India had last year sold 49 per cent stake in the company
to Peter Chernin's CA Media. The strategic investment was
raised with the intention of acquiring small production houses
and producing films in multiple languages.
Eros
recently entered into a deal with HBO for creation of a premium
television channel housing English and Hindi movies. "Eros
gets associated with two strong brands like HBO and Endemol.
But how much of a revenue jump it gets remains to be seen.
Endemol, on the other hand, gets a foothold into the Bollywood
market. But it is not an exclusive alliance and the confirmed
commitment at this stage is for three co-produced movies,"
says a media analyst.
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