Mukesh Ambani, a known billionaire plans to churn up the Bollywood and entertainment industry with his idea of releasing a movie every week utilizing his JioFiber network, covered by the ‘First Day First Show’ proposal. Jio Studios, which is in the industry of generating the content for the Reliance Jio’s broadband as well as portability channels, desires to produce and release not less than 52 films per year. They have challenges themselves to accomplish this scope within the next 2-3 years.
Jyoti Deshpande, President, chairman’s Office, Media, and Entertainment Business, Reliance Industries (RIL) expressed to Business Today that they have planned to release 52 movies each year. There would be 3 experts: one would create their script and produce the film, another one can co-produce connecting with other production companies and the third source would be getting films from third parties. We would like to make films in more than 10 languages. Other than films, Jio Studio is into the business of creating various web series, various long as well as short kind of content in 11 languages and music also. Reliance Jio awaits to receive a crucial mass of ten to 15 movies and also 20 million broadband networked homes to initiate the ‘First Day First Show’ service.
In the beginning, they would be seeking to release 1 or 2 films per month. Ascending it up in a later stage to one film per week. The expense of the films expected to be in the array of Rs. 15-20 crore. In the contribution, Jio would participate as the film exhibitor. Being exhibitors Reliance created investments to construct the theatres, Jio spent for set-top boxes, fibers, TVs. In the near future, Jio is seeking to scale up its ‘First Day First Show’ service as a channel for the producers to release their films also get added profits apart from what they receive from releasing on screens. Although, for persuading the growth of the business model, Jio Studios require to scale up from the very beginning its in-house film production.
As explained by Despande, the nation has stern film screen availability. It is suggested that our best film scope maximally is around 5,000 screens presently, which is inclusive of the multiplexes and also the single screens. There exists just 2000 multiplexes throughput in India, whereas China owns 35,000 screens. By what strategy we can expand the revenue of the box office? ‘First Day First Show’ would provide the outlet to grow the industry the moment we digitally link the houses with the help of optical fiber. The former CEO of Eros International who recently being a part of Jio said, that they are trying to construct a fascinating content ecosystem over their mobile as well as broadband dissemination system. Recent films of JioStudio are Lukka Chuppi and Stree which are considered to be great hits.