| Saregama India, the RPG Enterprises-owned entertainment company, is entering into film production with five films - three Hindi and two Bengali, nearly three years after it withdrew from this business.
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| The country’s largest music company decided to re-enter the film production business in line with the recommendations of the consultancy firm, McKinsey & Co.
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| RPG Enterprises vice-chairman Sanjiv Goenka said one Hindi film was on the floor while production of another two would begin shortly. Two Bengali films, he said, would begin on April 14, Bengali New Year’s Day.
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| He said a strategic business unit (SBU), under the stewardship of a chief executive officer (CEO), would monitor the film production business.
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| A CEO would be appointed towards the end of February. All the five films would be released in the beginning of the next financial year.
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| Saregama India, formerly Gramophone Company of India, produced four films-three Hindi and one Bengali- under the banner of its subsidiary Gramco Films which was later merged with it as the company decided to fold up the business.
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| The films produced by the company were Godmother, Sapne, Bada Din and Hothath Bristhi.
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| Godmother earned a few awards, but all the films fared very poor at the box office.
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| Goenka hinted the company would have a panel of directors to do the films.
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| Budget for the films, he said, would be “moderate.” The company on Friday released music cassettes and CDs of Aalo, a Bengali film directed by Tarun Majumder.
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| He said the company intended to boost sales of Bengali film music. “Nearly 75 per cent of Hindi music market is dominated by old and new movie songs while the numbers are as low as 35 per cent in Bengali. It shows there is growth opportunity for Bengali film music,” he added.
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| In the first quarter of the current financial year, the company incurred a net loss of Rs 5.05 crore out of a gross income of Rs 31.76 crore. The second quarter results are awaited.
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| The company was expecting good sales from the J P Dutta-movie, LoC which would be released shortly.
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| Goenka said the company would like to register “ better” financial results this year. |
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