Padmavati’s rights up for grabs at ₹75 cr on digital platforms

Filmmaker Sanjay Leela Bhansali’s period saga Padmavati has more going for it than just its ₹180-crore budget. Buyers eyeing its digital and satellite TV rights are making a beeline for the Deepika Padukone and Ranveer Singh-starrer, scheduled for release on November 17.

First in the race is popular American online streaming platform Amazon Prime Video that is interested in purchasing both for a record sum of ₹75 crore, three people familiar with the development said on condition of anonymity. Since Amazon doesn’t own or have a stake in a broadcast network in India, it is likely to sell the satellite TV rights of the film to a movie channel.

Amazon has been joined in the race for the television satellite rights by Viacom18 that owns Hindi entertainment channels, including Colors and Rishtey.

Padmavati is being produced by Bhansali Productions and Viacom18 Motion Pictures, the film production arm of the Viacom18 group.

Billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd is also in the running for the same property, likely to be a traffic spinner in the digital space, said one of the three persons mentioned above. A company spokesperson declined to comment.

Viacom 18 is a joint venture between Viacom Inc and Network 18 Media & Investment Ltd, also owned by Reliance Industries Ltd. Viacom18 declined to comment. Bhansali wasn’t available to comment.

Padmavati is a film about the fictional tale of a Rajput princess written by 16th century Sufi poet Malik Muhamad Jayasi.

Bhansali sold the digital rights of his last two films, Bajirao Mastani and Goliyon Ki Raasleela Ram-Leela to ErosNow, the digital platform owned by Eros International Media, also the producers of both movies. Both turned out to be money spinners.

If the deal is sealed, the ₹75-crore amount will be the highest paid by a digital platform for a single movie. The figure is a reflection of online streaming platforms aggressively looking to pick exclusive rights for upcoming movie releases to drive traffic.

“We have nothing to announce at the moment and do not comment on speculation. Amazon Prime Video remains committed to bringing the latest and exclusive movies and TV shows to our Prime members,” said an Amazon spokesperson.

“With the arrival of a bunch of over-the-top video streaming platforms such as Netflix, Amazon, VOOT, Spuul, HOOQ and others in India, film producers have now split the digital and satellite TV rights and sell them separately,” said one of the three persons mentioned above.