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Tag: production house

  • Eros International unveils new identity for Eros STX Global Corp

    Eros International unveils new identity for Eros STX Global Corp

    KOLKATA: Eros International Plc has changed its corporate name to Eros STX Global Corp. Along with the change in the corporate name, the brand has come with a new logo, a new website, and a new stock ticker ESGC for New York stock exchange.

    Eros Intl Media CEO Pradeep Dwivedi shared the new identity for Eros STX Global Corp on his social media account.

     

     

    The name change follows the completion of company’s merger-of-equals transaction with STX Entertainment on 30 July. The corporate name change does not affect the company’s share structure or the rights of the company’s shareholders, and no action is required of the company’s existing shareholders in connection with the corporate name change.

    Read more news on Eros & STX Global merger 

    As described in the new website, the merged entity has six divisions Eros Now, Eros Motion Pictures, Eros STX International, STX films, STX television, STX alternative. The merger which was announced earlier this year brings two major forces of Bollywood and Hollywood together.

    In a recent interaction Dwivedi delved deeper into the merger of the two entities and shared his belief that the merged entity should be able to build the first compelling Indian studio that will capture worldwide attention both in terms of theatrical and streaming business.

  • Balaji Telefilms elaborates how pandemic hit

    Balaji Telefilms elaborates how pandemic hit

    KOLKATA: The complete shutdown of more than three months has had a sizeable impact on television and movie content creators. Although there has been a notable surge in TV viewing, leading broadcasters are also staring at huge losses as brands have limited their ad spends. In an earnings call, Balaji Telefilms management said that there would be a renegotiation with broadcasters. 

    “We will all have to take a small cut in our end prices but I think we are trying to compensate that by also reducing the cost so that we get closer to the gross margins of this year. It will be a little late than what was there in the financial year that just ended but we are trying to make that good by putting more volume,” the management stated. 

    Balaji Telefilms Ltd had witnessed a sharp decline of Rs 18 crore on the television business side in the Q4 of last financial year. While the pandemic induced crisis started towards the end of the quarter, the production house attributed Rs six crore to the Covid2019 crisis.

    When the industry started feeling the heat of the pandemic, Balaji Telefilms joint managing director and creative head Ekta Kapoor announced that she would forgo a year’s salary of Rs 2.5 crore. Later, several reports floated in late April that it would cut three months salary of their employees. The management mentioned that the salary bill was down to 50 per cent from where it was in pre-Covid2019 time in April, May and June. 

    While production cost was non-existent in that period, it is looking at an overall reduction of minimum 10 to 15 per cent in the production cost both on the digital and television side. “But this has to be measured on a week-to-week basis in the first two weeks of starting production. We are on track and we will keep you updated on how these cost-cutting measures take shape as the year goes on,” the management also mentioned. 

    “All the content that we put on ALTBalaji is for individual audiences whereas our movies and television are for family audiences. Given that theatres are not going to open too soon we will have our business model skewed more towards digital releases, especially for films that cost less than around Rs 25 crore to Rs 30 crore,” it added. 

    The management also addressed the query on finding investors, which was reported earlier by a publication. Although it did not clarify it did not refute it altogether as well. ”We have a roaring digital future. We keep getting enquiries from investors to invest in our platform but we are still holding our horses because we feel we have not reached the peak of our potential and it is going to be an opportunity in this crisis that we are fully poised to exploit in the remaining months of the financial year,” the management said. 

  • “Time to discuss IP ownership”: Contiloe Pictures’ Abhimanyu Singh

    “Time to discuss IP ownership”: Contiloe Pictures’ Abhimanyu Singh

    MUMBAI: Television producers, after a long hiatus, have started shooting with limited cast and crew members. However, taking care of the team and the implementation of other SOP measures has escalated production cost.

    Contiloe Pictures founder and CEO Abhimanyu Singh says that most companies are at a vulnerable stage. Production has come to a standstill where revenue is zero with underlying assets to depend on.

    Singh believes that the IP-based system needs to start so that creators can benefit from reusing, reworking and reutilising their assets. He adds that the entire ecosystem needs to prepare itself to be able to create world-class content.

    He further explains that apart from owning studios, having a stronger production fraternity is good for the creation environment. “Smaller units will always have a problem and the system will remain fractured in the way it functions. If you have a strong infrastructure and strong production companies it will be always helpful to fight any natural disaster.”
     
    Singh is currently shooting with his team in Amgaon and Naigaon where he has arranged a living accommodation for his cast and crew members. The entire arrangement was done within 20 days since the lockdown was imposed. The team at Contiloe Pictures worked overtime to make this transition happen. Nearly 75 people are staying within the studio in Amgaon. Everything from their living cost to food is taken care of by the studio. In the same manner, close to 30 people are staying at the other set in Naigaon.

    Contiloe Pictures has hired an external agency called Momentum India that looks after all the sanitisation, fumigation and other safety measures.

    Singh highlights that shooting is running smoothly with not limited challenges. He shares, “We had over 100 animation people and VFX supervisors because most of our shows require visual effects. Now there are fewer people in one slot. We have two floors where people were working in different shifts which have reduced now. Most of the post-production work is happening remotely.”

    The studio has introduced Adaptra lines, where data transfer happens at a higher speed. He also highlights that even if the cost goes up it is safe for the environment as people are working from home. This will help to stop the mitigation of viruses on the set. Singh says that these added costs will have to be taken for the time being since there isn’t any other option. 

    Singh has introduced very limited changes in the scripts. Storytelling has changed to a certain extent, but the plotline remains the same. A lot of crowd scenes, darbaar sequences are done through CGI (Computer-generated imagery).

    Singh credits the entire industry for coming together in this time of crisis.  He shares, “Most of the industry is shooting for over 40 days now and people are being responsible for their working environment and their units.”

    Contiloe's currently running shows on television include Tenali Rama and Vighnaharta Ganesh. It has also previously created shows like Veer Shivaji, Jhansi ki Rani, Mahabali Hanuman, Chakravartin Ashoka Samrat, Maharana Pratap, Ssshhhh…Koi Hai amongst others.

  • Eros International, STX Entertainment announce completion of merger-of-equals transaction

    Eros International, STX Entertainment announce completion of merger-of-equals transaction

    KOLKATA: Eros International and STX Entertainment have announced the completion of their merger-of-equals transaction. The newly-combined company will migrate in the coming weeks to trade on the NYSE under the symbol ESXI and will operate under the name Eros STX Global Corporation. The company will continue to be domiciled in the Isle of Man and headquartered in both Burbank, California, USA and Mumbai, Maharashtra, India.

    Pursuant to the merger agreement, Eros International issued contingent value rights (CVRs) to the former stockholders of STX Entertainment in the merger. The CVRs will be settled in ordinary shares of Eros STX on a date between 75 days and six months after the effective time of the merger.

    Eros STX will benefit from diversified underlying sources of revenue and consumers with a truly global media and consumer entertainment play, building a powerhouse between East and West. Eros STX has a unique capability to present film and episodic libraries and pipeline of original content to a broad and growing global audience through multi-year output deals, strategic alliances and the market leading Eros Now streaming platform. Eros STX is well positioned to create long-term value for shareholders, partners and employees.

    In India, Eros STX will continue to have a leading box office presence and one of the largest and most valuable libraries of Indian language films. In China, the Company will benefit from and expand upon some of the most comprehensive business and creative relationships in the industry. In the United States and the rest of the world, it will utilise its revolutionary, industry-disrupting and cost effective, data-driven production, marketing and distribution system innovations to create the studio system of the future: visionary, nimble, efficient and sustainable.

    Eros STX capital structure includes $110 million of incremental equity, with an additional $15 million to be completed within the next 90 days, from new and existing global investors including TPG, Tencent, Hony Capital and Liberty Global. The combined company is expected to generate approximately $50 million in annual run-rate operating synergy.

  • This is not the time to think of loss or profit: SVF’s Mahendra Soni

    This is not the time to think of loss or profit: SVF’s Mahendra Soni

    MUMBAI: The unprecedented COVID-19 crisis has thrown a spanner in the works of both large companies as well as small and medium enterprises. SVF, one of the biggest production houses in East India, is also not an exception. Although its over-the-top platform Hoichoi has fared well, its massive film and TV production business, which had seven daily soaps going on, has come to a halt. SVF co-founder and director Mahendra Soni acknowledges the crisis but he thinks it is a time to support the fraternity, rather than overdoing the loss count.

    In an interaction with Indiantelevision.com, Soni spoke on wide-ranging topics including the impact of the crisis in the Bengali market, on SVF and the way forward.

    Edited excerpts:

    What will be the overall impact of the crisis on the Bengali industry?

    If we take the financial year 2020-2021, I think there will be at least 30-40 per cent drop than the last year for sure, if it opens before May end or around that period. So, I think August will be a very important time period in the Bengali market because by that time people should start coming back to theatres and we can have a few footfalls by Durga Puja. But if we continue beyond that (May end), then it becomes difficult because the whole cycle is stuck. At this moment all I can say is that it’s not about loss or profit, it is about at least looking after the people that work there, daily wage workers, etc. Honestly, we are not also thinking beyond that.

    How does this crisis impact SVF's overall finances as well?

    No one was prepared for it. It’s not the time to be thinking about balance sheets. I am not listed on the share market so I am not worried about that. We know that we have a pool of great creative talent and whenever it opens, we will bounce back stronger. At this moment our priority is to be safe and make sure that everybody stays in their home and also reach out to everyone who can help in any way. In fact, I would like to appeal to others in the industry to be strong, support your people, stand by them and not think of losses.

    How many projects of yours are stuck and how many were in the initial stage?

    We were working on almost seven new films. Six were already shot or in the production/post-production stage. Apart from that, there are six-seven films that we were planning from April to December, all those films got stuck.

    How much impact are you seeing on TV production?

    To be honest, TV is a daily loss. As it has stopped, we are not making any money or any content. So that’s revenue-wise more impactful and the team size is also bigger there.

    Since you have a robust movie library and you have worked along with Bengali Star Jalsha, Zee Bangla, are you planning to offer some of your movies to the channels?

    So we spoke about that but almost 80 per cent of my library is already with Jalsha.  I also feel that TV broadcasters are a little reluctant to invest in new content. At least, I can say from the regional perspective because the advertising revenue has definitely gone down. I had some discussions about monetising that content with a couple of channels but I feel that also has been stuck because of their budget issues and cash flow issues because they also have to look after so many people they have already employed.

    How are you focusing on the development part of the projects currently?

    We have divided the teams into two-three groups. Everybody is working from home and we use Microsoft Teams to connect. One team speaks to directors. A lot of creative things are happening because the scenario would change a lot after this even when we come back; how people feel, how people see things, how we're going to change ourselves so that’s also going to create a lot of content that we create every day. So those discussions are happening. We are going back to also thinking what all we have done and what has gone wrong so we should not be doing those mistakes again.

    So, we do one meeting every week to figure out what they have watched and from there we would pick up at least seven-eight ideas that can be developed or looked into.

    Once things resume, how much time will it take for you to go back to normalcy for your production?

    I don’t think we will take even half a minute to go back to normalcy. We are paying our dues, we are supporting our people, we don’t see any reason for a delay of anything.

    Are you expecting any support from the government?

    Again it's not the time to ask that. It is the time to get past through it. I am sure the government also would be supportive but at this moment we should support our government to just make sure that the poor people, the homeless people, the medical fraternity should be looked after well and whatever we can do for them is more important than doing for our business.

  • Jio Fiber impact on multiplex business to be limited, will boost OTT

    Jio Fiber impact on multiplex business to be limited, will boost OTT

    MUMBAI: After revolutionising the mobile data use in the country, telecom giant Jio is now ready to turn around the fortune for the broadband sector in India. Jio Fiber is not only merely providing high-speed internet connection but it is bundling a number of offers and features like access to premium OTT services and the concurrent release of movies. The high-speed home broadband will definitely boost the over-the-top ecosystem but experts have mixed views on how it will impact theatres and multiplexes.

    At the 42nd annual general meeting of Reliance Industries Ltd (RIL), CMD Mukesh Ambani revealed 5 September as the date for the commercial launch of the much-awaited service. “Jio Fiber Services to be launched on commercial basis on 5 September 2019 – on the third anniversary of Jio’s launch. (We) plan to reach 20 million residences and 15 million business establishments in 1,600 towns,” the business tycoon announced.

    Industry veteran Paritosh Joshi pointed out that watching cinema is much more than just a question of consuming a few hours of content as it is an immersive experience. He also compared the arrival of the multiplex revolution in India about 15-20 years back which signalled a departure from basic movie experience. He added that multiplexes are trying to make experiences rich and interesting.

    “So in my opinion, theatrical exhibition business will not disappear merely because of cinema being released concurrently on digital media. Watching a film at home is different than in a
    cinema theatre where you get completely emerged in the movie experience. At some level it might even help the theatrical release because people who would not have had a chance otherwise to experience that film may sample it on their personal devices at home and then still want to really experience what the full thing is by going to the theatre,” Joshi added. Moreover, he also added that international studios operating in India may not agree for a concurrent window with Jio Fiber.

    Another veteran media analyst also agreed that multiplexes won’t be affected by Jio. He added that Indian audiences still like to go to the theatre for community viewing.

    PwC – Risk Assurance (Media, Entertainment & Sports) Managing Director Anand Punmiya said, “Getting movies at home on the day of release will be a boon for many, however going to multiplex & watching is considered "friends & family time" and there will still be takers for that as well. In fact, in recent past we experience reverse migration, wherein selective Cricket World Cup matches were exhibited in multiplexes, since multiplexes offers an enhanced viewing experience.”

    PVR Ltd also said in a statement that cinemas continue bringing people together to share a communal experience. This irreplaceable element, which is at the core of theatrical experience, continues to deliver a robust box office performance not just in a growing market such as India but also in the more matured markets such as the US, China, Europe, etc. where cinemas have regularly competed with many similar initiatives such as Netflix Original Movies.

    The company also added that for decades, theatrical release window has been a valuable model for exhibitors and producers alike. In India and globally, producers have respected the release windows and kept a sacrosanct gap between the theatrical release date and the date of release on all other platforms, i.e. DVD, DTH, TV, OTT, etc.

    "We would also like to point out that producers, distributors and multiplex owners in India have mutually agreed to an exclusive theatrical window of 8 weeks, between the theatrical release of a movie, and release on any other platform. This exclusive theatrical window is a model that is followed internationally, in order to ensure the robust financial viability of all the segments of the sector, and has been replicated in India," Inox said in a press release.

    Elara Capital vice president research Karan Taurani said that the Jio deal won’t have a big negative impact for multiplexes as the release of a movie in cinema is very important in order to get deals on digital and satellite. He also added that there are about 400 films released every year across genres and hence release of a few films directly on Jio won’t impact footfall.

    “Cinema-going is considered a family outing in India and we don’t see large budget films going for direct release on Jio. It will be limited to smaller films going directly on digital, as the economics of a big film doesn’t work for the same,” Taurani added.

    Keeping the mixed economy structure of Indian internet users, Jio Fiber’s plans have been fixed from 100 mbps speed to all the way up to 1 Gbps. The pricing will range between Rs 700 per month to Rs 10,000 per month. “Premium JioFiber customers will be able to watch movies in their living rooms the same day these movies are released in theatres,” Ambani said while revealing all the offers. Jio Fiber also comes bundled with a free subscription to premium OTT services.

    “Vodafone, Airtel, Jio are already bundling content from over-the-top platforms. It’s the sheer scale on which Jio operates and subscribers they may have that makes it more interesting for streaming service operators to deliver the product to broadband and mobile customers. One thing became clear last year – the telecom play is substantially data play and data play is all about entertainment content. The main use of data is consuming audio-visual entertainment content,” Joshi commented on Jio Fiber’s impact on the over-the-top ecosystem.

    Another analyst added that while the OTT ecosystem will definitely improve, the question is about how Jio wants to bundle the offering, which mainly depends on the pricing.

    Punmiya said, “There is a kind of "OTT War" which is in place for some time now and wherein every platform is engaged in creating unique and engaging content. While, OTT is "Content at Convenience" multiplexes offers a great viewership experience. Even if small and big screen are competing they will continue to thrive Indian markets for long given every platform have their ardent followers.”

    Balaji Telefilms’ management is also upbeat about the changes that Jio will bring. “We are looking upon this as a very positive development, it will help consumers access internet at a very high speed. We have seen previously when Jio was launched that Reliance has revolutionised this market and made internet accessible to the masses of India that fits very well with our strategy. Our content has been historically mass content, so all steps and measures taken to spread internet out at high speed like Jio Fiber will do is a positive move and a very positive development for us,” said Balaji Telefilms management in its earnings call.

  • ITV Studios acquires Israeli formats specialist Armoza Formats

    ITV Studios acquires Israeli formats specialist Armoza Formats

    MUMBAI: Television production company ITV Studios has acquired Israeli formats specialist Armoza Formats. Under the acquisition deal, ITV Studios has taken full ownership of Armoza.

    Armoza will become part of ITV Studios’ global creative network, headed by Mike Beale. However, financial details of the transaction have not been disclosed.

    The television developers and distributor Armoza’s catalogue contains more than 100 formats  including primetime singing show The Four and gameshow Still Standing, as well as primetime studio entertainment format I Can Do That!.

    “Armoza Formats has rapidly grown to be one of the top independent creators and distributors of global entertainment hits. This is a unique opportunity to work with Avi and his team and combine his expertise with ITV’s presence and reach to undoubtedly create many more hits of the future,” ITV Studios International president Maria Kyriacou said.

    “Armoza always strives to be at the forefront of creativity and stay ahead of the challenges in our industry, and we are therefore thrilled to be joining ITV Studios. We both share the same values and passion for success through creativity and strongly believe that ITV Studios are the perfect partner for the next stage of the company’s evolution,” said Amoza founder Avi Armoza.

  • Tusshar Kapoor steps down from Balaji Telefilms board

    Tusshar Kapoor steps down from Balaji Telefilms board

    MUMBAI: Tusshar Kapoor, the famous actor in the Bollywood fraternity, stepped down from his post of non-executive non-independent director of Balaji Telefilms. The resignation is effective from 27 March. The actor holds an MBA degree from Michigan University.

    “Pursuant to Regulation 30 read with Para A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Mr. Tusshar Kapoor, Non-Executive Non-Independent Director of the Company has tendered his resignation from the office of the Director of the Company with effect from March 27,2019, due to personal reason and pre occupation,” the company said in a BSE filing.

    Balaji Telefilms started its journey as a private limited company back in 1994 which went public in 2000. After producing renowned TV shows such as Kyu Ki Saas Bhi Kabhi Bhau Thi, Bade Achhe Lagte Hai, Pavitra Rishta, Naagin for years, the company also ventured into online video streaming space with ALTBalaji.

  • Peninsula Pictures eyes new genres for digital foray

    Peninsula Pictures eyes new genres for digital foray

    MUMBAI: Peninsula Pictures, the production house known for its shows like Vishkanya, Dev Anand, Shree Krishna, Mayavi Maling and Aladdin has decided to foray into the digital world, with the intent of providing quality content. One of the key reasons for entering digital is also to retain show IPs.

    Apart from its expertise in genres like mythology and fantasy, the production house has plans to experiment with a romantic thriller, crime, comedy and paranormal genres among others for its new web series. As far as television is concerned, it has plans to produce shows in genres like contemporary love story, thriller, etc.

    The production house, led by Nissar Parvej and Alind Srivastava, highlighted that the year 2018 was a bittersweet one. Parvej said that Shree Krishna has done quite well in the industry and has completed 400 episodes. Mayavi Maling was yet another show produced for Star Bharat that didn’t garner much attention from viewers but it didn’t let them down. Aladdin, a period fantasy for Sony Sab, has already made an entry in the space, while Alibaba for Colors and two other shows are in the pipeline to enter the TV space. It also has plans to produce shows for the regional segment.

    Talking about the challenges that they have faced, Srivastava said, “Detective shows take time for the audiences to pick up. The other challenge was streamlining our studio which was launched last year. In 2018, there were a lot of shows that were VFX. Now, we will be able to take more VFX-based shows. We also want it to become one of our strengths and this does not mean that we just want to stick to VFX shows.”

    Parvej further added that they don’t want to pick up too much work so that they can focus on quality. Srivastava said that there was a wave of shows like Daayan, Chudail that were trendy in 2018. Taarak Mehta Ka Ooltah Chashmah is the show that is still working well with the audience. “One should know that when you are making a show, you are making it for the audience, so whatever relates to them should be made and should follow certain basics like touching the emotional core of it,” he said.

    Talking about OTT, Parvej said that the money is definitely more in the OTT space, but according to him, that does not make TV insecure. However, it will take 4-5 years for OTT to settle. He feels that show production cost on TV will go down because of dipping advertising money.

  • Banijay Asia joins hands with MS Dhoni

    Banijay Asia joins hands with MS Dhoni

    MUMBAI: Banijay Asia, the production house, helmed by Deepak Dhar has partnered with Dhoni Entertainment Pvt Ltd which is led by cricketer— Mahendra Singh Dhoni, with an aim to create engaging and exciting content across various genres.  

    The vision of this partnership is to create premium content that will be distributed across multiple platforms in Indian and South East Asian markets. Banijay founder and CEO Deepak Dhar said, “In this partnership, I am excited and looking forward to work with Suraj Singh, Mihir Diwakar, and Seemant Lohani to build the collaboration between Dhoni Entertainment Pvt Ltd and Banijay Asia.”

    Dhar is bringing a plethora of content across different subjects. Credited with over two decades of expansive experience, he has also contributed greatly in changing the landscape of content across platforms and ruled the world of TRPs with some of the most talked about shows in the history of Indian Television like ‘Bigg Boss’, ‘The Great Indian Laughter Challenge’, ‘Khatron Ke Khiladi’ amongst the others.

    Mahendra Singh Dhoni said, “The Bigg Boss, Mr. Deepak Dhar has been introducing disruptive content to the audiences since more than two decades. I am really excited to join hands with Banijay Asia, I am overwhelmed and looking forward to creating exciting content for my audiences. I hope with this partnership I keep up to the expectations of my fans who have been supporting me and looking up to me. In 2019, we promise to create energising, exciting and enthralling content for the audiences across platforms.”