Big studios warm up to indie films

Offbeat films have started making revenue sense, too

Backing indie or offbeat independent films seems to be the new mantra for major corporate production houses. Take the last three-four movies that have performed decently at the box office and also managed to win the hearts of film critics. Most of these would have the backing of one big production house. For example, Ship of Thesues, which created a new wave of sort once it hit the Indian screens. Who backed it? Disney UTV.

Indie films have traditionally stayed far away from big studios and have often had to struggle to get a theatre release. But it isn't the same any more, as big studios are reaching out to these.

"A primary reason for this is the branding they get out of backing a film like Lunchbox. Karan Johar is generally known for making candy-floss cinema but standing by Lunchbox will add to Dharma Production's credibility," says Taran Adarsh, film critic and trade analyst. After a successful run by Disney UTV-backed Theseus, Bharat Shah's VIP Films-backed BA Pass, the former (Disney UTV) has joined hands with Dharma for Lunchbox. Hansal Mehta's Shahid will also be released by Disney UTV. Apart from diversification in the portfolio of films, an analyst says such movies pave the way for movie makers to have a foothold in the global market as films like Lunchbox, Theseus or Paan Singh Tomar have global appeal. The North American rights for distribution of Lunchbox have already been picked up by Sony Pictures Classics. Lunchbox has won the coveted Critics' Week Viewers Choice Awards at Cannes this year, which helped reaching this film to the global audience. Anand Gandhi, director of Theseus, says this is a popular trend in Europe and other places, which is now picking up steam in India. Adds Rucha Pathak, senior creative director, studios, Disney UTV, "I think the line between indie films and mainstream films is blurring."

But you are mistaken if you thought these films added only a dash of branding for the production houses. The returns from such small films are handsome as well.

According to Ruchi Bhimani, executive producer of Theseus, which had a unique marketing strategy, the film has already garnered over Rs 2 crore and satellite rights are yet to be sold, which will add to the producer's kitty. Theseus was one of the rare films that saw higher revenue in the second week compared with its debut week. BA Pass, too, has managed a gross collection of over Rs 6 crore already, with a making budget of about Rs 2 crore.

A growing number of multiplexes, coupled with a wider set of global audience, are also making these films a handsome investment for production houses. Apart from box office collection, the sale of satellite rights of these films are as lucrative. Rising internet reach is fuelling growth for such films and they have done well in Tier-II cities as well. Krunal Mehta, vice-president, (branding and corporate communications) at Angel Broking, explained why production houses are backing different films. "First of all the preference of audience is changing and films like Lunchbox will have its own set of audience. Apart from just backing film makers, these films also provide healthy returns. Digitisation is helping small films get a wider release as well."

According to a senior official at a rival production house, which had its own association for producing such films, the global platform is a big advantage that indie films provide. "It is very simple. When corporate (production houses) are investing in it, they want returns and these films, having been screened at festivals worldwide, offer a global platform. Look at Lunchbox; it is being distributed in regions like North America and Europe," the official says.