Zee may splurge up to ₹1k cr on films
NEW DELHI: Zee Studios, the movie production and distribution arm of Zee Entertainment Enterprises Ltd, is doubling the number of films it plans to produce in 2022, even as a merger deal with Sony Pictures Networks India awaits regulatory and shareholder approval.
Shariq Patel, chief business officer, Zee Studios, declined to share investment figures, but trade experts estimate the cost of producing these films at ₹1,000 crore.
In 2019, Zee released around 10-12 movies, which plunged to half that number in 2020 before increasing to 20 films in 2021, according to Patel. In 2022, it plans to produce nearly 40 films. The strategy is to balance tent-pole films with mid-sized productions and small contentdriven offerings across Hindi and regional languages. The line-up includes Ajith-starrer Valimai, scheduled for release in January.
The slate has several Bollywood titles such as Badhaai Do, the sequel to comedy-drama Badhaai Ho, starring Rajkummar Rao and Bhumi Pednekar; Ajay Devgn’s sports drama Maidaan; and Akshay Kumar’s Rakshabandhan. Other films are planned in Tamil, Telugu, Marathi, Punjabi and Kannada.
According to media analysts, while the entity that emerges after the merger agreed in December will absorb Zee’s film business, Sony Corp.’s movie studio business will be independent. “The DNAS of Zee and Sony are different when it comes to movie-making. Zee looks at more mass-market films while Sony, at least as far as Hindi titles go, has had a niche, up-market approach. The cash inflows will be an advantage, but we have to see how the machinery moves on the ground,” said a film trade analyst declining to be named.
Patel said release dates of new projects had not been announced as the theatre situation is evolving. “But our slate will include a mix of big-event films as well as small- and medium-sized offbeat films,” he said. The company is looking at co-productions, in-house productions as well as acquisitions.
Patel said the studio is open to releasing films in theatres as well as on digital platforms. “It has been an extremely challenging time, and it is still difficult to project if people will come to cinemas for mid-sized films. So, while we believe in the theatrical business, we are also looking at diversifying.”