Mumbai: Optical media maker Moser Baer India Ltd. has earmarked Rs5 billion to acquire up to 12,000 regional film titles by the end of 2007-08, for its home video segment, a senior official said on 5 September.
Around four months back the company said it intended to acquire up to 7,500 titles by the end of the current fiscal year.
“We have already passed that and are closer to 10,000 titles,” Chief Executive Officer of the entertainment business, Harish Dayani told Reuters.
Of the 20,000-odd films being produced in India, the company intended to have a share of 60 percent, he said. “So we would like to have close to 12,000 films and we are heading in that direction,” he added.
The company has also started film production. It already has six films on the floors and two more would be added during the year, Dayani said.
“We are looking at all kinds of budgets - anything that would be commercially viable,” he added.
Moser Baer forayed into the home video segment late last year launching regional language films on video compact disc format retailing at Rs28 and digital video discs at Rs34 each.
Analysts estimate that out of the total Indian film revenues of Rs79 billion the home video segment accounted for only 7%.