Film makers rush to bag rights for old hits

Bollywood's golden hits of yesteryear are suddenly attracting the attention of Indian producers. Movie production houses like Pritish Nandy Communications (PNC) and T-series are buying out the title and story rights of old Hindi blockbusters, which they plan to remake in the future.

PNC is forking out a staggering Rs 750 crore to remake over a dozen-odd Hindi films in the the next two-and-a-half years.

"Most of these films will be animated versions of the original films while a few will be in the live action format," said Pritish Nandy, promoter of PNC.

Nandy, who last week struck the biggest deal ever to remake the classic blockbuster film of the 1970s' Sholay, will also be remaking Sahib Biwi Aur Gulam of the 1960s.

Apart from this, PNC has acquired rights to make animated versions of Amar Prem, Howrah Bridge and Barsaat Ki Raat, among others. Nandy will spin Sholay into a four-film remake of the original, an animated version, a prequel and also a sequel in the next 18-20 months.

PNC isn't the only production house bitten by the remake. In the past filmmaker Farhan Akhtar remade Amitabh Bachchan's acclaimed movie DON with Shah Rukh Khan, Victoria No 203 is another movie that hit the screens in a new avatar after almost 30 years. T-Series is said to be remaking Subhash Ghai's Karz while Ketan Desai will remake Amar Akbar Anthony.

So, why has re-making caught the fancy of India filmmakers? Some old movies are benchmarks for what sells and appeals to the audience. It's obvious that filmmakers want to experiment with a new look and set-up, say film experts.

"Sholay is a classic example of the same. The action adventure flick still holds the interest of the young. While some movies don't and that is the reason we are remaking most of the films in animated versions," said Nandy. He added that animated films lend themselves to other business opportunities like merchandising and gaming.

According to industry estimates, producers wanting to remake a film pay an upfront amount of over Rs 30 lakh to the original filmmaker, apart from a 5-15 per cent revenue-share. The royalty sum could vary from deal-to-deal.

However, acquiring re-making rights is an uphill task. While Ram Gopal Varma wasn't able to strike a deal with Sholay makers Sippy, Pritish Nandy grabbed the rights at a whopping sum of Rs 100 crore. Farhan Akhtar is said to have paid over Rs 40 lakh for DON.

Production companies believe that even after paying a hefty amount for rights, it can make money.

"Today there are many distribution platforms mainly the new media which contribute to the revenue. Also, merchandising is another source of earning," said a filmmaker. On the other side, producers of old classics are able to rake in much more than what they did 20-plus years back.