With B4Us proposed initial public offering (IPO) slated for next year, the company decided to get into co-production first rather than directly go for producing movies on its own. A portion of the proposed IPO proceeds will be set aside for film production.
B4U Television Network will be funding between 15-20 per cent of the total cost of the movies. But iDream Production will have the benefit of getting the platform of B4Us channels in India and overseas. We will be the co-producer in all iDream films. The first product in this venture is the multi-starred movie AgniVarsha, said B4U Television Network chief marketing officer Rajnish Lall.
The move comes in the wake of B4U Movies going pay from August 31. Besides co-production, B4U will have satellite telecast rights to all the earlier movies produced by iDream Production. The venture ensures an output deal for B4U, which can show all the new productions of iDream on its channels in India and overseas.
The movies already handled by iDream, which is promoted by SSKI, are Monsoon Wedding, Bend it like Becham and Mitr. The line-up includes Janantram Manantram. The rights of Monsoon Wedding, however, are with a music company and we are negotiating to get the satellite telecast rights, said Mr Lall.
The strategy is to get newer products on B4U Movies. Though we have a huge library, we need a stream of new movies on the pay channel. This is one of the strategies to line up newer products ,said B4U Television Network chief distribution officer Debashis Dey.