In India, Yash Raj Films will launch Streaming Service with $67 Million Initial Investment (EXCLUSIVE) with a $1,500 Million initial investment
Variety learned that Leading Indian studio Yash Raj Films (YRF) will enter Indias rapidly growing streaming market.
YRFs streaming business (formerly known as over-the-top, or OTT), is called yRF Entertainment and is being set up with a investment of $67,1 million ($67.1 million) Variety understands. It will operate in India, but address the global market with Indian diaspora consumers in semblance to Zee5 and SonyLIV.
YRF is owned by Aditya Chopra, founder of the company, whose long-time CEO, the late yash Chop, is the chairman and MD of a company.
YRF declined commenting, but a trade source from India said that he wanted to raise the bar of digital content production in India. He wanted the global standards of vision and storytelling with the stories rooted in Indians. This could be the moment that the digital world reshapes forever. Wait for some of the biggest announcements ever seen in the content space.
A jiffy movie, starring Akshay Kumar, Sanjay Dutt, Manushi Chhillar and Sonu Sood, and a family entertainer with 'Jayeshbhai Jordaar', according to Variety. YRF recently signed ten-year licensing agreement with Amazon Prime Video.
The Amazon already has several Yash Raj Films classics, including Darr, Le Jayenge, Silsila, and Chandni and other recent titles, such as Thugs of Hindostan, and the War or Mardaani.
Variety has told Variety that YRF Entertainment will not affect this deal.
As a whole, YRF wants to expose the world's best Indian stories to the masses, and that is enlightened, for the first time, to its own full potential. Aditya Chopra wants this to be the only real blue Indian studio, so that the UI can expand its scope to match international standards. Whether you make bringing new ideas to tidal audiences, you can start the new era of OTT, in India, or in if you want to change the culture and talent
The estimated investment in the upcoming film slate is $161 million. There is also a lot of streaming originals developed over the past two years.
Indian Media Industry report forecasts annual growth in subscriptions at 25%.
YRF Entertainment is going to compete with Disney Plus Hotstar, Netflix, Amazon Prime Video, Sony LIV, ALTBalaji, ZEE5 and other engrained players in the Indian streaming market.
Aditya Chopra also plays a Broadway musical version of the all-time Bollywood hit Dilwale Dulhania Le Jayenge.