Walt Disney Enters India with its Ambitious Plans
The Walt Disney Company is reported to be in a bid to boost its production initiatives in India as the company initiates with betting big on localization and charting a roadmap to make 14 new family-oriented films in India.
Among the projects, five of them are believed to be in advanced stages of planning.
Mahesh Samat, managing director, The Walt Disney Company (India) said: “We are pretty serious about India. Local content will make the Disney brand more relevant in India. Going forward our efforts will be to invest in Hindi films. Outside the US, India is the top market for investment in local content.”
The still-to-be-named South Indian epic fantasy is slated to release by January next year.
The Telegu-language movie, which is a dubbed version of it in Tamil, is anticipated to boost the company’s stand in the south Indian market.
A Dow 30-company, which has registered annual revenues of over $36 billion in FY10, and a market capitalisation touching $54.68 billion as of January 28, 2010, Disney’s international business, is reportedly a large contributor to the company’s bottom line.
Executives of The Walt Disney Co recently revealed to have received the Foreign Investment Promotion Board’s approval as it’s seek to divulge Rs 1,000 crore in India.