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Eros International Media has forged a joint venture with writer V Vijayendra Prasad, the mastermind behind the blockbusters Baahubali and Bajrangi Bhaijaan , to develop scripts as well as produce and distribute films and web-series across Hindi, Telugu and Tamil languages.
Prasad has already penned ten stories, which will take shape on screen under this partnership. On completion of his current projects, he will be exclusively tied up with Eros for developing content. “Prasad’s stories, coupled with the vision of some of the best directors in the country, will add to our content offering and strengthen our position as the destination for the finest cinematic experience,” Sunil Lulla, Managing Director, Eros International Media told BusinessLine .
‘Enduring association’
“I hope this is the beginning of a long and successful journey together in presenting films that will be appreciated,” Prasad said. Eros and Prasad previously worked together on Bajrangi Bhaijaan , which was a spectacular success worldwide, grossing over ₹1,500 crore. Prasad’s other successful movies include Makkhi, Rajanna and Magadheera .
Regional focus
The joint venture has also identified ten leading directors to work on these projects.
These include Telugu directors Sukumar and Sriman, who will be making his Hindi debut under the joint venture.
While the Hindi language film industry represents about 43 per cent of box office revenue, the Telugu and Tamil film industries represent 36 percent, according to a 2014 report by Deloitte . But the overall number of movies made in these two languages was higher than Hindi in that year.
“In the context of shortage of theatres, the regional strategy adds scale, market share and margins without cannibalisation,” Eros said in a new corporate presentation. It is aggressively focusing on regional content to expand revenues.
IP creation strategy
The joint venture is another step in Eros’ IP creation strategy as it looks to tap into the large south-regional language audience. “Our aim is to constantly create lasting IPs by collaborating with leading talent across Hindi and regional industries in delivering the best in entertainment,” Lulla added.
Eros has also partnered with Reliance Industries to jointly produce and consolidate content from across the country.
The maximum revenue for Eros comes from co-production and distribution of films followed by television and overseas.
Lulla had earlier said that Eros would also continue to expand its regional presence with releases in multiple languages.
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