MUMBAI: Walt Disney Company (India) is all set to make it big in the Indian movie industry. The media company, which already has a presence in the kid’s television segment through Disney Channel and Toon Disney in India, is now setting sights on Bollywood.
To this effect, Walt Disney will look at making movies itself or acquiring them from local producers and directors.
While the acquisition will be done under the banner of Walt Disney Pictures, distribution and marketing will be handled by group firm Buena Vista International.
Speaking to DNA Money at the Ficci-Frames 2006 conclave, Mark Zoradi, president of Buena Vista International, said, “We will be looking at making 10 to 15 movies in the next 10 years. While some of them will be made by us, movies that are in sync with Disney’s philosophy of great storytelling will be acquired as well. We will primarily invest in movies that will work in the Indian market. And if a few have the global appeal, we will release them across the globe as we do with our other potential movies.”
The company recently appointed Shyam PS (who shot to fame post Rang De Basanti) as the head of film production and acquisitions for India. Of the total number of movies Walt Disney will make/acquire it expects at least a couple of them to be released globally.
While financing the movie is expected to be done internally, when asked about the kind of investments Walt Disney will make toward moving making/acquiring in India, he abstained from divulging investment figures citing company policy.
The profile of movies that will be made/acquired range from local animation movies, mainstream cinema, blockbusters etc hence the cost will differ from one movie to another.
And going as per industry standards, cost of making a Bollywood movie can range anywhere from less than Rs 10 crore for a low to average budget film and over Rs 10 crore for a big banner movie.
Another US giant, the cable network and movie studio owner Viacom Inc has already said it is keen to tap India’s digital media business and explore co-producing films to address its large base of young people, its chief executive said on Wednesday.
“When the world sees India, they see its fast-growing economy, its large middle class, its smart and well-educated young people, and its big movie and television audience,” said Tom Freston at the conclave on Wednesday.
“Anyone would consider it a promised land,” said Freston, who lived in India for several years in the 1970’s, when he set up an apparel export business here and in Kabul for western buyers.
“We don’t just want to distribute movies here: We’re looking at co-producing films here with Indian partners,” said Freston, who claimed Hindi films of the 1970’s made “a huge impact” on him. “We’re also keen to explore the home video market: 80% of film revenues in India comes from ticket sales, whereas 60% of revenues in the west comes from home video,” he said.
India, home to the world’s most prolific film industry and the third-largest cable TV market, will become Asia’s leading cable market by 2010.
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