 "Deal structuring eased, teething troubles remain")
Mumbai-based KWAN Entertainment and Marketing Solutions Private Limited and Telugu movie actor and entrepreneur Rana Daggubati have announced a joint-venture (JV) company with the same name to offer professional management services to artists and other players in the South Indian film industry.
The JV would act as a platform for the seamless exchange of creative talent among the regional film industries of respective states in the South, said Daggubati, who comes from one of the leading families of Telugu film industry backed by Suresh Productions.
Commenting on the announcement, KWAN Managing Director Anirban Blah said that this partnership would also provide opportunities for KWAN's regional talent to exploit its national access and integrated range of end-to-end global media services. According to him, KWAN has handled the marketing and other requirements of movies and actors, that have together generated an income of over Rs 2,000 crore last year.
The JV, which will have equal shareholding by both KWAN and Rana Daggubati, would be the first to offer similar end-to-end solutions to the South Indian film industry, Blah said. Founded by his grandfather D Rama Naidu, Rana's family business includes over 400 movie theatres in South India, a large integrated movie studio that offers production, distribution, exhibition and studio infrastructure. Kwan packages 15-20 films every year and has a portfolio of over 1,000 endorsements among other things, according to the company.
