It’s been raining deals and JVs at Cannes. Now, one more has been added to the list – Eros International, the AIM-listed entertainment studio, has formed a joint venture with leading American independent entertainment studio Lionsgate, to distribute all the original content Lionsgate produces across formats within South Asia, including India. In the Lionsgate stable, there are films like the Academy Award winner Crash and the cultish The Blair Witch Project to name just a couple.
Last year, Lionsgate generated more than $450 million at the North American theatrical box office. “Thanks to the JV,” said Kishore Lulla, CEO, Eros International, from Cannes, “We will now have access to a library of 12,000 Lionsgate films.” The JV also has all-format rights, “So if we want, we can dub them in Hindi, offer content on DVD, internet and mobile.”
Lulla said Eros was planning to launch a couple of TV channels soon and the association with Lionsgate, which has several top TV shows like Weeds and Madmen, will help immensely. The joint entity will also produce films together. “In a month, we will have put up a fund to make these movies together.” While he declined to get into specifics, he said, “We will put in a large amount.” Lulla said though the budgets of these films – with Indian and American actors or directors – may not cross beyond $10 million-$20 million, “We have the potential to get back $100 million because of the stronger distribution network.” Lionsgate will also have access to Eros’ growing library of Hindi films. “To begin with, Lionsgate will distribute 20 top Hindi films including Om Shanti Om, Gandhi, My Father and Eklavya in America, outside the South Asian diaspora. This will contribute to our bottomline,” said Lulla.