Sensing the huge scope for movies in the theatrical and OTT space, Kalanithi Maran owned Sun TV Network is planning to produce at least eight big-ticket movies in the next 12 months with an investment of Rs 300 to Rs 400 crore. The South based media house is betting big on its OTT business, SunNxt, which, it thinks, has the scope for investment of around Rs 200 crore every year.
Participating in an earnings call, Sun TV management, represented by group CFO S L Narayanan and MD Mahesh Kumar told the analysts that they would invest in eight blockbuster movies, featuring actors like Rajnikanth, Dhanush, Suriya and Vijay, among others. Sun Group is planning to release the movies starting from January 2021 till next Diwali.
The movies will be released through theaters, its own channels and the OTT platform, depending upon the business viability of the mode at that given point of time. The company’s strategy would be to retrieve the entire cost of the movies from theatrical releases, broadcasting and digital rights.