Category: Film Production

  • Sony Pictures Classics acquires Rebecca Miller’s ‘Maggie’s Plan’

    Sony Pictures Classics acquires Rebecca Miller’s ‘Maggie’s Plan’

    MUMBAI: Sony Pictures Classics has acquired all rights in North America, the UK, Australia, New Zealand, CIS, Hungary, Romania, China and various other Asian territories to Rebecca Miller’s Maggie’s Plan.

     

    Written and directed by Miller with a script based on a story by Karen Rinaldi, the film premiered at the 2015 Toronto International Film Festival and will screen at the upcoming New York Film Festival.

     

    Miller’s comedy-drama follows a young woman whose determination to have a child catapults her into a nervy love triangle with a heart-throb academic and his eccentric critical-theorist wife.

     

    The film stars Greta Gerwig, Ethan Hawke, Julianne Moore in the lead along with Bill Hader, Maya Rudolph, Travis Fimmel, Ida Rohatyn, Wallace Shawn and Mina Sundwall.

     

    Maggie’s Plan is produced by Rachael Horovitz, Damon Cardasis and Miller, with executive producers Philip Stephenson and Temple Williams of Freedom Media, Lucy Barzun Donnelly and Alexandra Kerry of Locomotive, Michael J. Mailis and Susan Wrubel of Hyperion Media.

     

    “I’m absolutely thrilled that Sony Classics will be distributing Maggie’s Plan. They are an iconic company and the perfect home for this film,” said Miller.

     

    Horovitz and Cardasis added, “We’re so happy to be teaming up with Sony Pictures Classics. Their long history of bringing quality thoughtful cinema to the screens is one we feel honored to be part of.”

     

    “With Maggie’s Plan, Miller has done the impossible. She has created a totally relatable world that is both fresh and new. The screenplay is surprising and precise, a warm human comedy. The performances are spectacular. It is our good fortune to be working with Rebecca, producers Rachael and Damon and once again with Greta, Ethan, and Julie. We are confident the public will embrace Maggie’s Plan,” said Sony Pictures Classics.

     

    The deal was negotiated between Sony Pictures Classics, CAA and Cinetic Media with International sales being handled by Protagonist Pictures.

     

  • Essel to back Jazbaa’s robust release with aggressive promotions

    Essel to back Jazbaa’s robust release with aggressive promotions

    MUMBAI: Gone are the days when an all India release of a movie used to make headlines for robust distribution. Gradually Bollywood has emerged as a global affair not only for the Indian diaspora but also for the vernacular audience. 

     

    Essel Vision is leaving no stone unturned to ensure an enhanced reach for its upcoming Hindi movie Jazbaa. With multilingual audio and simulcast release across the globe, Essel has plans of garnishing the movie in an exquisite manner.  

     

    Speaking to Indiantelevision.com, Essel Vision Productions business head Akash Chawla says, “This is the first time an Indian movie will have a simulcast release in the Middle East with an Arabic dub. We are also looking to have a dubbed release for Spanish and English market alongside Hindi release for the Indian diaspora.”

     

    Digital will spearhead the promotional and marketing strategy for the movie. “The promotional strategies will be backed by Zee all through. Zee has a huge bouquet of channels and we will be promoting the movie across all of them in both international and Indian markets,” he adds.

     

    There will be a mega trailer launch on the sets of Dance India Dance, which will reach out to mass. In the US, the producers plan to launch a promotional tour on 17 September, 2015. A series of activities are also on the cards for the premiere of the movie, which is scheduled on 9 October, 2015.

     

    MSM Motion Pictures’ recently produced Piku showed how brand integration can be a substantial source of revenue for producers. When queried if Jazbaa will also have brands integrated in the movie, Chawla says, “There are a few brands that are subtly placed in the movie but we kept the number as low as possible because we did not want interrupt viewers. I don’t think brand integration is yet a substantial source of revenue when it comes to movies.”

     

    Essel Group took the decision of fully entering into film production with Jazbaa after tasting success with Lunchbox and D-Day as co-producers. The movie, which stars Aishwarya Rai Bachchan and Irrfan Khan, is directed by Sanjay Gupta. The movie tells the story of an advocate who is stuck between professional life and motherhood.

     

    Chawla is optimistic about the movie’s success globally. “We will have as robust release as possible and rest will depend on audience,” he says.

  • Q1-2016: Despite drop in QoQ revenue, B.A.G. Films TV  segment operating profit flat

    Q1-2016: Despite drop in QoQ revenue, B.A.G. Films TV segment operating profit flat

    BENGALURU: B.A.G. Films and Media Limited (BAG Films) Television Broadcasting segment (TV segment) reported 20.6 per cent drop in segment revenue to Rs 20.69 crore (79.7 per cent of Total Income from Operations or TIO) in the quarter ended 30 June, 2015 (Q1-2016) as compared to the Rs 26.06 crore (82.8 per cent of TIO) in Q4-2015. The TV segment reported 9.5 per cent drop in revenue in the current quarter as compared to the Rs 22.85 crore (69.9 per cent of TIO) in the corresponding year ago quarter.

     

    Note:(1) 100,00,000 = 100 lakh = 10 million = 1 crore

     

    (2) All numbers in this report are consolidated unless stated otherwise

     

    Despite the drop in operating revenue, BAG Films TV segment reported almost flat operating profit at Rs 8.08 crore in the sequential quarters Q4-2015 and Q1-2016. The segment’s operating profit in Q1-2016 however dropped 5.7 per cent as compared to the Rs 8.57 crore in Q1-2015.

     

    BAG Films TIO in the current quarter at Rs 25.96 crore was 17.5 per cent lower than the Rs 31.46 crore in the immediate preceding quarter and was 20.6 per cent lower than the Rs 32.70 crore in the corresponding year ago quarter.

     

    Let us look at the other numbers reported by BAG Films

     

    BAG Films reported a lower loss of Rs 1 crore in the current quarter as compared to the loss of Rs 11.53 crore in Q4-2015, but the loss in the current quarter was higher than the Rs 0.67 crore in Q1-2015. The company’s simple EBIDTA calculated without including other income in the current quarter at Rs 6.06 crore (23.3 per cent margin) was 1.5 per cent lower than the Rs 6.15 crore (19.6 per cent of TIO) and was 12.2 per cent lower than the Rs 6.91 crore (21.1 per cent margin) in Q1-2015.

     

    The company’s total expenditure in the current quarter at Rs 23.67 crore (91.2 per cent of TIO) was 38.3 per cent lower than the Rs 38.38 crore (122 per cent of TIO) in Q4-2015 and was 19.9 per cent lower than the Rs 29.54 crore (90.3 per cent of TIO) in Q1-2015.

     

    Employee Cost in Q1-2016 at Rs 4.74 crore (18.2 per cent of TIO) was 11.8 per cent lower than the Rs 5.37 crore (17.1 per cent of TIO) in Q4-2015 but was 0.4 per cent more than the Rs 4.72 crore (14.4 per cent of TIO) in Q1-2015.

     

    Segment Numbers

     

    The five segments mentioned in the company’s financial results are: Audio-Visual Production (AVP); Movies: Leasing; FM Radio; and Television Broadcasting. While BAG Films Movies segment made no contribution to the company’s revenue or operating results in the current quarter, Q4-2015 or Q1-2015, TV Broadcasting segment numbers have already been mentioned above.

     

    Audio Visual Production segment (AVP segment)

     

    AVP segment reported 9.7 per cent growth in revenue in Q1-2016 at Rs 3.60 crore as compared to the Rs 3.28 crore in Q4-2015 and a growth of 34 per cent as compared to the Rs 2.69 crore in Q1-2015. The segment reported an operating profit of Rs 2.24 crore in Q1-2016 as compared to an operating loss of Rs 1.38 crore in the immediate trailing quarter and 14.4 per cent growth in operating profit in Q1-2016 as compared to the operating profit Rs 1.96 crore in Q1-2015.

     

    Leasing segment

     

    BAG Films Leasing segment reported a little more than one fourth (26.4 per cent) revenue in the current quarter at Rs 0.1 crore as compared to the Rs 0.38 crore in Q4-2015 and less than one seventh (16 per cent) the revenue of Rs 0.62 crore in Q1-2015. The segment reported an operating loss of Rs 0.93 crore in Q1-2016; and operating loss of Rs 3.14 crore in Q4-2015 and an operating loss of Rs 0.41 crore in Q1-2015.

     

    FM Radio segment

     

    BAG Films FM Radio segment reported a 9.5 per cent decline in revenue in Q1-2016 at Rs 1.58 crore as compared to the Rs 1.74 crore in Q4-2015, but a growth of 2.1 per cent as compared to the Rs 1.55 crore in Q1-2015. The company’s FM Radio segment reported an operating loss of Rs 0.24 crore in Q1-2016; an operating loss of Rs 2.05 crore in Q4-2015 and an operating loss of Rs 0.08 crore in Q1-2015.

  • Q1-2016: Eros International revenue doubles at Rs 480.6 crore, PAT up 49%

    Q1-2016: Eros International revenue doubles at Rs 480.6 crore, PAT up 49%

    MUMBAI: Eros International Media Limited’s revenue for the quarter ended 30 June, 2015 almost doubled at Rs 480.6 crore, which was 96.5 per cent more than Rs 244.6 crore in Q1 FY15.

     

    The company’s profit after tax (PAT) was up 48.9 per cent at Rs 53.40 crore in Q1 2016 as against Rs 35.8 crore in the same quarter previous year. The EBIT at Rs 96.3 crore went up by 60.70 per cent. 

     

    The company released a total of 16 films during the quarter as compared to nine in Q1-2015.

     

    Eros International Media executive vice chairman and managing director Sunil Lulla said, “We have had an excellent start to fiscal 2016 with the resounding success of Tanu Weds Manu Returns and our other major new releases, Uttama Villian, Masss, Dil Dhadakne Do (overseas) and Gabbar (overseas), doing well. The portfolio performance reinforces our strategy of investing in content-driven films, which are prudently budgeted and then extensively monetized across traditional and emerging platforms.”

     

    “As a strategy, we continue to diversify our presence across different film genres, budgets and languages. Further, strong pre-sales for our films remains one of the cornerstones of our strategy,” he added.  

     

    “The start to the second quarter has been exceptional with multiple-record breaker Bajrangi Bhaijaan delivering a worldwide gross of over Rs 5 billion. Last week’s Telugu release, the Mahesh Babu starrer Srimanthudu has opened to record breaking box office numbers. In addition, we have a compelling line-up for the remainder of the year featuring high-profile and promising movies such as Bajirao MastaniWelcome Back, Hero, Gabbar Singh 2, 24 amongst a host of other Hindi and regional movies,” he said.

     

    “Our leadership position in the nascent Indian Media and Entertainment industry, which is witnessing positive structural trends, backed by an expansive library of movies should enable us to create significant value for all our stake holders going forward,” informed Lulla. 

     

    • Diversified revenue mix
      • Theatrical Revenues contributed – 51.5 per cent, Overseas Revenues – 27 per cent and Television & Others – 21.5 per cent as a percentage of Total Income.

     

    • Top 2 Hindi Box Office movies in CY2015 are Eros Films
      • Bajrangi Bhaijaan released in Q2 FY16 crossed the coveted Rs 300 crore net box office in India and the worldwide gross is over Rs 500 crore, smashing multiple records.
        • Fastest Rs 100 crore, Rs 150 crore, Rs 200 crore and Rs 250 crore movie in Bollywood history
        • Highest single day collection of Rs 38.75 crore for any film in India
        • Highest Monday figures of Rs 27.05 crore in India
      • The medium budget movie – Tanu Weds Manu Returns released in Q1 FY16 was the first film of CY2015 to cross the Rs 100 crore mark, and has set new ROI benchmarks in the industry.
  • Q3-2015: Disney revenue up 5.1%, income up 10.6%

    Q3-2015: Disney revenue up 5.1%, income up 10.6%

    BENGALURU: The Walt Disney Company Inc reported 5.1 per cent revenue increase in Q3-2015 (quarter ended 27 June, 2015) to $13,101 million as compared to the $12,466 million in Q3-2014 (quarter ended 28 June, 2014). Net income during the current quarter improved 10.6 per cent to $2483 million from $2245 million reported for the corresponding year ago quarter.

     

    Of the five segments that add to Disney’s numbers, four – Media Networks, Parks & Resorts, Studio Entertainment and Consumer Products showed improvement in revenue and income, while its Interactive segments showed decline in revenues and income in the current quarter as compared to the corresponding year ago quarter.

     

    “We’re very pleased with our performance in the third quarter, with record net income and diluted earnings per share of $1.45, up 13 per cent from the prior year. The strong results across our many diverse lines of business demonstrate the power of our unparalleled brands, franchises and creative content,” said Disney chairman and chief executive officer Robert A Iger.

     

    Segment Results

    Media Networks 

    Media Networks revenues for the current quarter improved five per cent to $5768 million from $5511 million reported for Q3-2014. Operating Income from this segment increased four percent to $2378 million in Q3-2015 from $2296 million in Q3-2014. 

     

    Two sub-segments – Cable Networks, and Broadcasting contribute to this segment. 

     

    Cable Networks

     

    Cable Networks reported a five per cent growth in revenue to $4140 million in Q3-2015 from $3942 million in Q3-2014. The sub-segment reported a seven per cent increase in Operating Income to $2078 million in Q3-2015 as compared to the $1942 million in Q3-2014. The company says the increases at the domestic Disney Channels and ABC Family were due to higher program sales and increased affiliate revenue, driven by contractual rate increases. Program sales growth reflected increased subscription video on demand (SVOD) distribution revenues in the current quarter.

     

    Operating results at ESPN were driven by growth in affiliate revenue, partially offset by lower advertising revenue. The increase in affiliate revenues was due to contractual rate increases and an increase in subscribers. The increase in subscribers was due to the new SEC Network launched in August 2014, partially offset by a decline in subscribers at certain of our networks.

     

    Lower advertising revenues reflected lower ratings and rates, partially offset by more units sold driven by NBA playoff games. Lower rates reflected the benefit of World Cup soccer in the prior-year quarter. ESPN programming and production costs were relatively flat in the quarter as the addition of the SEC Network and higher rights costs for NBA programming were essentially offset by the absence of rights costs for NASCAR and World Cup soccer.

     

    Broadcasting

    Broadcasting reported four per cent hike in revenue in the current quarter to $1628 million from $1569 million, but reported a 15 per cent decline in operating income to $300 million from $354 million in the corresponding quarter of last year due driven by higher programming costs, lower advertising revenue and higher labour related costs, partially offset by growth in affiliate fees and higher program sales revenue from SVOD distribution. Higher programming costs were driven by increases in the average cost of primetime programming and pilot costs in the current quarter.

    Lower advertising revenues reflected decreased news and daytime ratings, partially offset by higher rates. Affiliate fee growth was due to new contractual provisions and contractual rate increases.

     

    Parks and Resorts

     

    Parks and Resorts reported four per cent growth in revenue to $4131 million from $3980 million in the corresponding year ago quarter and a nine per cent increase in Q3-2015 operating income to $922 million from $848 million in Q3-2014. Operating income growth for the quarter was due to an increase at Disney’s domestic operations, partially offset by a decrease at its international operations. 

     

    Studio Entertainment

     

    Studio Entertainment reported 13 per cent increase in revenue to $2040 million in Q3-2015 as compared to the $1807 million in Q3-2014, and segment operating income increased 15 per cent to $472 million from $411 million in Q3-2014.

     

    Disney says that higher operating income was due to an increase in theatrical distribution, growth at international television distribution and a higher revenue share with the Consumer Products segment. These increases were partially offset by a decrease in home entertainment and higher film cost impairments.

     

    The increase in theatrical distribution reflected the strong performance of Marvel’s Avengers: Age of Ultron in the current quarter compared to Marvel’s Captain America: The Winter Soldierin the prior-year quarter. Theatrical results in the current quarter also benefited from the continuing performance of Cinderella, which was released in the second quarter of the current year. These increases were partially offset by the strong international performance of Frozen in the prior-year quarter and the results of Tomorrowland in the current quarter. The growth in international television distribution included sales of Star Wars titles, while the increased Consumer Products revenue share was primarily due to the performance of Frozenmerchandise. The decrease at home entertainment reflected lower unit sales due to the performance of Frozen in the prior-year quarter compared to Big Hero 6 in the current quarter.

     

    Consumer Products

     

    Consumer Products Q3-2015 revenue increased six per cent to $952 million from $902 million in Q3-2014 and operating income improved 27 per cent to $348 million from $273 million in Q3-2014.

     

    Higher operating income was due to an increase in merchandise licensing revenues and lower third-party royalty expense. Merchandise Licensing revenue growth reflected the performance of merchandise based on Frozen, The Avengers and Star Wars, partially offset by lower revenues from Spider-Man merchandise.

     

    Interactive

     

    Revenue from this segment fell 22 per cent to $208 million in Q3-2015 from $266 million in Q2-2014, but segment operating income was nil as compared to the $29 million in Q3-2014. The segment just managed to breakeven.

     

    Lower operating income was primarily due to lower results from Disney Infinity and decreased sales of console game catalogue titles, partially offset by the continued success of Tsum Tsum. The decrease from Disney Infinity was due to decreased unit sales and lower average net effective pricing.

     

  • Sky acquires majority stake in Blast! Films

    Sky acquires majority stake in Blast! Films

    MUMBAI: Sky has taken a majority stake in Blast! Films, the independent production company responsible for hit series The Supervet, The Route Masters and 999: What’s Your Emergency?

     

    Founded in 1994, Blast! Films is one of the UK’s longest established independent production companies and has produced award-winning films, including Hunger, Steve McQueen’s debut feature, The Channel 4 film of the opera The Death of Klinghoffer and the Bafta-winning drama Soundproof

     

    Blast! Films will continue to operate as a distinct company under the new ownership structure, producing programmes and films for a variety of broadcasters. Blast! Films founder and creative director Ed Coulthard and managing director Claire Bosworth will run the company with their current team. 

     

    Sky’s international distribution business, Sky Vision, will become Blast! Films’ distribution partner, and will represent new programmes and formats. Blast! Films’ existing agreements with other broadcasters and distributors will remain unchanged.

     

    Coulthard said, “Sky really gets the Blast! Films DNA. As programme makers we are passionate about quality and this is a great fit for us as we continue to evolve the company. I’m really proud of the team we’ve built here and this deal allows us to continue to attract great talent, keep raising the bar and be ambitious about what we can achieve.” 

     

    Sky Vision managing director Jane Millichip added, “Blast! Films has an incredible pedigree. Ed Coulthard is a first-class producer, and together with Claire Bosworth and team, they have a production slate that combines creative excellence with real commercial appeal. We look forward to working with them to build on their success in the UK and internationally.”

     

    Sky has stakes in several independent production companies including Jupiter Entertainment, Love Productions, and Znak & Jones, all of which partner with Sky Vision on domestic and international distribution.

  • “While we want films to be our anchor, we are equally excited about digital & TV:” Ajit Thakur

    “While we want films to be our anchor, we are equally excited about digital & TV:” Ajit Thakur

    From transitioning from Unilever in London to the Indian media space, Trinity Pictures CEO Ajit Thakur was lucky enough to get mentorship from two of the best minds in the media space – Ronnie Screwvala and Ekta Kapoor. Having learnt a lot from Screwvala in terms of business in media and from Kapoor, the madness of creativity, Thakur couldn’t have asked for a better learning ground.

     

    Since the time he came to India in 2007, he always wanted to make films, but then only landed up doing television stints with Sony and Life OK, which he found equally exciting.

     

    With a specific agenda on films that is to create his own label, he then finally got a platform in Eros International (with Trinity Pictures) to realise his dream.

     

    In conversation with Indiantelevision.com’s Disha Shah, Thakur speaks about his movie making passion, what Trinity Picture stands for, his journey from TV to films and more.

     

    Excerpts:

     

    What are the three core elements that you envisioned while launching the Trinity Pictures banner?

     

    Since the time I came back to India in 2007, I always wanted to make films. But when I came here I realised that all the platforms were equally exciting. Even after having moved to films, I still believe that television is as exciting a medium. But I had done two very good stints in TV with Sony and Life OK, so I thought it was time for me to do something in films now.

     

    My agenda was to be very specific – create a different studio and when I met Sunil Lulla and Kishore Lulla at Eros, they were both excited about it. Most importantly, they had the ideal platform for me to do what I wanted to do. So in February, Trinity Pictures was set-up as an in-house production house within Eros.

     

    There are three unique things about Trinity. Firstly, as a company we will focus only on developing franchises films because I believe focus gets you success. Keeping in mind Indian and global box office trends, there is space for franchise films. In India, as of June the top two films are returning films like Tanu Weds Manu Returns and Furious 7. While India is slowly waking up to the power of franchises, Hollywood has been tasting success with it for more than a decade. Even if we do come across a great script, which we can’t convert into a franchise, Trinity will pass it on to Eros. Our focus is very clear.

     

    Secondly, at Trinity we are not looking at ourselves as being just a film franchise studio. We will create franchises that can go across and beyond screens. It can happen that we develop a idea for digital, take it to TV and then to films. We are keen at making digital comics and character games for each franchise. One franchise might start with a comic and then become a film, while another might begin as a film and then hop on to the gaming platform. The possibilities are endless.

     

    Thirdly, we will be the first studio to have an in-house writers’ room. We are hiring 10-12 writers and three are already on-board through this unique open application that we have. We will have all these writers developing concepts and ideas for us in-house.

     

    From Yash Raj Films to UTV, many studios today have multiple film banners to cater to different genres. Why did Eros feel the need to launch a separate banner too?

     

    I think it is not about the need for a separate banner as much as about the fact that all these films could have been done under Eros. However, when I presented the idea to Kishore, he saw the merit in having a separate identity to these franchise films. So, while Eros stands for certain kind of big films across genres, Trinity will stand for big films within the franchise space. And moreover, I believe it sits in well as a strategic thing from a market’s promise that both the brands can grow.

     

    Eros is at the threshold of really aggressive growth in the next five years. It fits in the plan to have a second brand under it. More importantly, Trinity is not like the second label of other studios. Other studios use the second label to make small and alternative films; Trinity will cater to mainstream and big films.

     

    From TV to films, what were the initial challenges that you faced and how have you adapted to the new medium?

     

    There were no challenges, just opportunities. I am a curious person and for me it’s a process of evolution, so I don’t see them as challenges. Between Ronnie Screwvala and Ekta Kapoor, I couldn’t have asked for a better learning ground. My stints in broadcasting were also fantastic. I never thought I would do TV for so long but I did enjoy it a lot.

     

    At Sony, it was a great learning curve. It was a place where I really felt confident for the first time as we did Kaun Banega Crorepati and Crime Patrol and a lot of alternative shows. At Sony, we moved away from the saas-bahu sagas and experimented with alternative programming, which worked. I had great support from Man Jit Singh and NP Singh.

     

    Post Sony, Life OK was a dream job and I couldn’t have asked for more. From the foundations of Screwvala and Kapoor to witnessing growth as a person and professional, my Star India experience was fantastic. I haven’t seen a company with more talented people between Uday Shankar and Sanjay Gupta and all the colleagues I have worked with. I was learning everyday at Star.

     

    Life OK is like my baby, but more than Life OK, it is about just how much I learnt from the Star system. I couldn’t have asked for a better place to get to that level of confidence. And I believe it was great I did that and then jumped into films. I wish I had given more time to Channel V but my dream was to make films. I am now applying a lot of my learnings from there. Finally, it is about content and how you create it.

     

    Bollywood has a different set of dynamics and the only challenge has been to get to know big stars and directors and telling them that how somebody who has not made films before wants to make big films.

     

    What was the mandate that was given to you for launching this new banner? Walk us through your responsibilities at Eros.

     

    Eros is at a threshold of the next level in its journey. What we have charted out for the next three-five years is to become one of the leading global players in entertainment. Not just film entertainment, but also across digital, TV etc. Trinity Pictures fits in well with that plan for Eros to go to the next level. Eros’ top brass comprising Kishore, Sunil and Jyoti Deshpande believe that we can create four-five valuable franchises in films and beyond over the next three years.

     

    The second thing within that is to get the best talent to work with us directly. Traditionally, we have been following the acquisition model as well as producing our own films. Trinity will produce all of it in-house. The idea is to build relationship with talent because Trinity is a content production studio, which goes beyond just films. I am also helping develop content for Eros Now in space of original mini-series.

     

    How are you going to use all the different mediums? What is your strategy?

     

    The only difference between all the mediums is the target group that we are looking at. There is a certain target group that goes to theatres to watch films, a different group that watches digital content and a slightly different group that watches TV. More women drive television and more men drive films in terms of the demographic profile. That is the only thing I have to keep in mind.

     

    All we are looking for is good ideas and once the idea comes, we slot it for television, films or digital and then we will move it around. The main beauty of franchises is that it is platform agnostic. We can take the same franchise across mediums. The key point is where we want to start from and the target audience.

     

    Trinity is a multi-screen studio. Of course, we want to anchor ourselves in films but we are equally excited about digital and television.

     

    Give us an insight into the working of Trinity Pictures? What is the team structure like?

     

    It is a very small team. Till a month back, I was the only employee along with my assistant. We are taking time to find the right people. The aim is to have three teams comprising project managers, production heads and in-house writers. We already have on-board one of the top writers of Bollywood – Shridhar Raghavan, working with us as a consultant.

     

    As of now we have three full time writers. On 22 June, we are holding our first writer’s assessment workshop, wherein 250 applicants have evinced interest. Hopefully by next month, we should have 10 writers on-board. We are also looking at scouting for writers in Delhi and Kolkata.

     

    What is the potential that you see in building franchises in the Indian market?

     

    Significant. Like I said, this year the top two grossing films have been franchises. Look at Hollywood in the last one year, out of top 12 films, 10 films were franchises. Moreover, from 2008 onwards it has been the same. While franchises have tremendous potential, it needs a lot more development. It is almost like television where you build characters, even if the story gets over, people come in for characters and that is what franchises are about. You invest in characters and once when people fall in love with characters, they come for the next film.

     

    For example, Jurassic World has done the highest weekend ever in US. It is another returning franchise! The truth is all around this, but yes these are big films and you have to mount it well and get it right.

     

    What genres will Trinity Pictures be looking at to build movie franchise? How many films you have pitched to the management till now? When can we see first movie going on-floor?

     

    We are looking at full range of genres. We are looking at Superheroes, action – thrillers, spy and detectives, super natural horror, period and mythological as well as teens and kids. Within franchises, we want to explore everything.

     

    We have an agreement on eight projects and we will hopefully lock four by next month. We are hoping that a couple of these films to go on floors by September-October and we will definitely have two releases next year.

     

    Are Superhero films the best bet as far as franchises go or do other genres like comedy, thriller, horror have potential too?

     

    Making superhero films in India is difficult. I think, Hollywood has set a benchmark that we have to really find a right idea to be able to compete with them. If you make something like a pale replica, it won’t work.

     

    Will Trinity be making films that have a wider reach and appeal than just the Indian market?

     

    Yes. The franchises have the potential to reach out to the global audiences because they are universal themes and not just Indians. We are looking at all markets like UK, US and the Middle East for our films.

     

    Will you be looking at producing only Hindi films or is regional cinema also on the cards?

     

    At Trinity, we want to first focus on Hindi films and we might look at couple of English language films. However, regional cinema is part of Eros portfolio. We have a massive presence in South and we are expanding in Marathi and Bengali. Eros will continue doing a lot of regional cinema, while Trinity will focus on Hindi currently.

     

    Mythology as a genre has been working great guns on Indian television. However, as far as films go, Indian producers have so far failed to exploit the genre on the big screen. Will Trinity be looking at building on mythological films?

     

    I definitely relate to mythology and historicals, but obviously they have to be at a scale that is very different for TV for it to be worth being a film. I have a couple of subjects but I want to make sure that the right investments and right technicians are available to make it happen. Mythology in films has to be much bigger. Moreover, the average filmgoer is younger, so just mythology pitched like that won’t work. You will have to make it larger than life to pull in the younger audience.

     

    What is your target in the first year of operations?

     

    To have four films ready, make two films till next year and also make one very big franchise. For the four films, the story is done. We will be now be getting into screenplay writing. Over three years, we are aiming to have four-five big franchises across mediums and are also hoping to create a mini-series that completely changes the way content is seen for digital.

     

    What about the other talents like directors, actors?

     

    Like I mentioned earlier, that films is not the only criteria at Trinity Pictures. Having said that, we definitely want to work with established directors for our bigger films. At the same time, I am also very open to new directors and writers. However, some films will need experienced hands. The great thing is that all the directors I have spoken to, have been very excited about what Trinity wants to do in terms of franchises, having a writers’ room etc. We are in discussions and negotiations with a few directors.

     

    As far as actors go, we have not thought about it at the moment. Directors will finally decide on the actors. Our focus is to create good scripts and get good directors in.

     

    Is Trinity Pictures looking to exploit the film franchises for merchandising, animation etc?

     

    Absolutely. Like I said, gaming and comics will be a part of merchandising. We will also be looking at animation films but that will take some time. First, we want to get a couple of good films and franchises rolling… but everything will travel from one medium to another.

     

    What kind of budgets is Trinity Pictures looking at for making films?

     

    All kinds of budgets from Rs 5 crore to Rs 50 crore to even Rs 100 crore films.

     

  • Fox Star Studios inks nine film production & distribution deal with Karan Johar

    Fox Star Studios inks nine film production & distribution deal with Karan Johar

    MUMBAI: In one of the biggest deals in recent times, Fox Star Studios has inked a nine-film deal with Karan Johar’s Dharma Productions.

     

    As per the deal, which will run over the next three years, the two companies will jointly produce and distribute films, which will be helmed by directors like Johar, Ayan Mukerji and Karan Malhotra amongst others. The films are also likely to stars names like Ranbir Kapoor, Aishwarya Rai Bachchan, Shahid Kapoor and Alia Bhatt to name a few.

     

    Under the terms of this deal, while some films will be co-produced by the two companies, others will be for distribution only.

     

    Star India CEO Uday Shankar said, “The Indian film industry is an important market for us and this strategic partnership offers us an excellent opportunity to fundamentally change the content quality paradigm. This venture is the natural step in our progression to create entertaining and eclectic content for a global audience and to grow the business through game-changing innovation in content, marketing and distribution.”

     

    Johar added, “Movies for me have always been a blend of artistic and commercial resources. Dharma Productions has always endeavored to attain the highest form of celluloid excellence and entertain simultaneously. I am glad we have found a partner in Star India and Fox Star Studios for a visionary nine films alliance. This partnership will not only be the coming together of two forces who understand the need of the cinematic hour but also work as a unit to increase the footfall strength at the movies and empower other verticals. It’s a new age of cinema and this association is a glorious reflection of the times.”

     

    Fox Star Studios CEO Vijay Singh said, “This strategic alliance is path-breaking as it envisages the stakeholders pooling in their collective strengths and thereby chalking a new path for Bollywood, specifically in the way in which films are marketed and distributed. Consolidation through strategic alliances is the way forward in the film industry.”

     

    Dharma Productions CEO Apoorva Mehta added, “It is by far the biggest collaboration that the Indian film Industry has ever seen. With this strategic deal, Dharma has entered into a new phase of movie business, which will provide a disruptive growth model for all the parties involved. This landmark decision will bring on board the most visionary and astute leaders together who will drive the overall strategy for making, promoting and distributing movies. I am happy to say that Dharma is excited and geared up for these new opportunities in the coming years and it definitely looks like the beginning of a game-changing era for the industry.”

  • FY-2015: Eros PAT up 24%; operating income up 25% due to portfolio approach

    FY-2015: Eros PAT up 24%; operating income up 25% due to portfolio approach

    BENGALURU: The portfolio approach to movie making by the Sunil Lulla led Indian motion picture production and distribution company Eros International Media has resulted in it posting an increase of 24 per cent in profit after tax (PAT) in FY-2015 (year ended 31 March, 2015, current year) at Rs 247.06 crore (17.6 per cent of Total Income from Operations excluding Other Income, or TIO) as compared to the Rs 199.69 crore (17.6 per cent of TIO) in FY-2014. The company’s TIO in FY-2015 increased 25.3 per cent to Rs 1421.17 crore as compared to the Rs 1134.66 crore in FY-2014.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    All numbers in this are consolidated unless stated otherwise.

     

    The company’s diversified revenue mix comprises theatrical revenue, which contributed 38 per cent to total revenues, television and others, which contributed 31.3 per cent to total revenues, and overseas revenue, which contributed 30.7 per cent to total revenues. Eros says that its extensive film library of over 2,000 plus films has been increasing its contribution year on year with FY-2015 catalogue revenue at 22 per cent of Total Income as compared to 15 per cent in the previous year and 12 per cent in FY-2013.

     

    Eros managing director Sunil Lulla said, “We have concluded the fiscal on an excellent note based on our strategy of investing in content backed Hindi and regional movies and extensively monetizing it across all platforms such as theatrical, television and digital. The year has reinforced our belief in the portfolio approach to movie-making, which enables us to deliver sustained growth supported by consistently strong presales. Our footprint in the regional market, in particular, has worked very well for us. Along with the healthy performance of our new movie releases, we witnessed a strong upswing in revenue contribution from our 2,000 plus movie library. We are excited about our new venture Trinity Pictures that will build franchise films and look forward towards capitalizing on digital revenue opportunity through ErosNow.”

     

    In FY-2015, Eros released 64 films (44 Hindi and 30 Tamil/Telugu) as compared to 69 (37 Hindi, 30 Tamil/Telugu and two regional language) in FY-2014. Of the 64 films released in FY-2015, 47 were low budget, 10 medium budget and seven high budget films as compared to 44 low budget, 21 medium budget and four high budget films in FY-2014.

     

    Let us look at the other numbers reported by Eros: 

     

    The TIO numbers for FY-2015 and FY-2014 have been mentioned above. Eros TIO in Q4-2015 at Rs 449.05 crore was 42.7 per cent more than the Rs 314.62 crore in Q4-2014, but 8.5 per cent lower than the Rs 490.73 crore in Q3-2015.

     

    Eros EBIDTA including other income in FY-2015 at Rs 368.08 crore (25.5 per cent margin), which was 20.8 per cent more than the Rs 304.73 crore (26.7 per cent margin) in FY-2014. EBIDTA including other income in Q4-2015 at Rs 84.74 crore (18.2 per cent margin) was 24.6 per cent more than the Rs 68.01 crore (21.9 per cent margin) in Q4-2014, but 42.9 per cent lower than the Rs 148.43 crore (30.2 per cent margin) in the immediate trailing quarter.

     

    The company’s total expenses (TE) in FY-2015 at Rs 1079.84 crore (76 per cent of TIO) was 28.6 percent more than the Rs 839.93 crore (74 per cent of TIO). TE in Q4-2015 at Rs 382.71 crore (85.2 percent of TIO) was 57.9 per cent more than the Rs 242.31crore (77 per cent of TIO) and 10.8 per cent more than the Rs 345.34 crore (70.4 per cent of TIO) in Q3-2015.

     

    The company’s other expense in FY-2015 almost tripled (2.89 times) to Rs 96.74 crore (6.8 percent of TIO) as compared to the Rs 33.46 crore (2.9 per cent of TIO) in FY-2014. Other Expense in Q4-2015 more than quadrupled (4.05 times) at Rs 56.14 crore (12.5 per cent of TIO) as compared to the Rs 13.87 crore (4.4 per cent of TIO) in Q4-2014 and more than doubled (2.54 times) the Rs 22.13 crore (4.5 per cent of TIO) in the immediate trailing quarter.

     

    Lulla added, “The Indian entertainment industry is in midst of a structural shift and has potential to multiply revenue streams with multiplexing, digital addressability, broadband and mobile penetration as driving themes. Eros has been anticipating and preparing for these changes for many years. We have started FY-2016 on an extremely positive note with the resounding success of Tanu Weds Manu Returns to be followed by Bajarangi Bhaijaan on Eid and Bajirao Mastani on Christmas as our tent pole films for the year. We believe we can continue this growth momentum into FY-2016 as well.”

     

    Click here for earnings presentation

     

    Click here for audited financial results 

  • DreamWorks Animation taps Jason Reitman to write & direct ‘Beekle’

    DreamWorks Animation taps Jason Reitman to write & direct ‘Beekle’

    MUMBAI: DreamWorks Animation has found a very real director for the story of an imaginary friend, as the Academy Award-nominated Jason Reitman is set to write and direct Beekle, based on the award-winning children’s book, The Adventures of Beekle: The Unimaginary Friend.

     

    Beekle is the first project to be put into development by DreamWorks Animation’s recently appointed co-presidents of feature animation Bonnie Arnold and Mireille Soria. It is the first foray into animation for Reitman, director of films including the Academy Award-nominated Juno, Thank You For Smoking and Up in the Air, amongst others.

     

    Written and illustrated by Dan Santat, The Adventures of Beekle: The Unimaginary Friend, is the 2015 recipient of the Caldecott Medal, awarded annually to the most distinguished American picture book for children.

     

    DreamWorks Animation development executive Damon Ross brought the project to the studio, which he, along with the studio’s head of development Gregg Taylor are overseeing.

     

    “Welcoming Jason onto this project is a true coup, as his incredible ability to tell heartfelt character-driven stories with a signature comedic tone makes him the perfect choice to bring this beloved book to the big screen. We immediately fell in love with the concept of ‘Beekle’ and know that Jason will create something truly special from this fantastic source material,” said Arnold and Soria in a joint statement.

     

    “I was book shopping with my daughter, when a little tooth-shaped character in a paper crown stole our hearts. His name was Beekle and I’m honored to now be adapting Santat’s charming story into a feature film. I’m particularly proud to be working with DreamWorks Animation, makers of Kung Fu Panda, the first film my daughter ever saw on the big screen,” Reitman added.

     

    Beekle is the story of an imaginary friend who is so odd and so unique that no kid could possibly imagine him. So he decides to take matters into his own hands, and sets off on an unimaginable journey to the land of people in search of a best friend.