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Zee chalks out plan for movie production

Raksha Hegde

Flying high on the success of Gadar, Zee Telefilms has chalked out a three tier extensive plan for film production. The media conglomerate will produce two movies in as many years with a budget of Rs 150-250 million per film.

The company's big budget movies will be complemented by three movies made on a budget range of Rs 60-80 million and 12-18 small budget movies with an investment of Rs 5-10 million annually.

Sandeep Goyal, Zee group's broadcasting chief executive officer told Business Standard: "Film production is going to be a major growth area for us. We see it as a backward integration process with the movies and music creating content for at least 12 of our 15 channels".

Zee will have an added advantage with its E-Citi multiplexes showcasing movies along with boutiques, sports bars etc. "We will have at least 100 screens within a year. Film production will just put all our activities right on track. Added to that are the remuneration from theatre release, channel release and music sales," Goyal said.

At present, the company has two movies,Tere Liye and Bhagmati (animation), in the pipeline. Sector analysts said: "We are extremely bullish on the prospects of films in India, if managed well and Zee can built on this success to produce multiple movies in a given year."

Analysts have estimated that Gadar would contribute Rs 170 million in net profit for Zee for the fiscal ending 2002.

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