The Walt Disney Company in India and UTV Motion Pictures India’s leading movie studio today announced a creative alliance to co-produce a slate of Disney branded films aimed at family audiences. Disney and UTV will share creative responsibilities for these films and UTV will manage the production, marketing and distribution.
“Together with UTV, our goal is to produce films that have a direct connection with the dynamic and expanding India audience and that embody Disney brand values - optimistic, fun, meaningful and emotional entertainment for the entire family’” said Mahesh Samat, managing director, The Walt Disney Company India. “From television to publishing to online gaming and studios, we are singly focused on developing stories, characters and experiences that reach into the heart of the community”.
Ronnie Screwvala, CEO of UTV said “I believe this is a strategic initiative that further strengthens our relationship with Disney. It is a wonderful affirmation for UTV that a much loved global entertainment brand like Disney has the confidence in our creative and commercial capabilities and we welcome this co-production alliance. The combined offering of UTV and Disney content will offer Indian viewers a tremendously diverse range of movies across languages and genres.”
Disney’s creative partnership with UTV further establishes its position in the Indian market where local production is key and also complements its fast-growing Disney-branded businesses. In 2006 the company acquired Hungama TV, India’s leading Indian children’s television channel, and took an equity interest in media company UTV Software Communications Limited which it later increased in 2008 allowing both companies to maximize each other’s expertise and reach globally, and in India.
“Our relationship with UTV has yielded creative excellence for our audiences. To broaden our relationship into movie production is a natural extension that we are very excited about. Today’s announcement combines UTV's unparalleled commercial and artistic success with the best traditions of Disney storytelling and global franchise creation” added Samat.
About The Walt Disney Company:
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. Disney is a Dow 30 company and had annual revenues of more than $38 billion in its most recent fiscal year. Disney's Market Cap is more than $78 billion.
The Walt Disney Company (India) Private Limited opened in July 2004 with its head office located in Mumbai. In less than six years, Disney has established a strong foothold in this diverse and highly dynamic market. Disney in India employs around 200 permanent staff, and anticipates accelerated growth across Media Networks, Interactive media group, Consumer Products, and Studio businesses. Outside of the U.S., India is one of the largest markets Disney has invested in for local production.
The Disney Television Network comprising Disney Channel, Disney XD and Hungama TV has consistently been one of the leading networks for kids in Cable & Satellite (C&S) programming. The network currently reaches over 71 million homes with Sun Distribution Services as the exclusive distribution partner, offering a blend of quality entertainment and distinct original programming that kids love and families trust and enjoy.
About UTV Software Communications Ltd:
UTV is the No.1 media and entertainment brand in South Asia today reaching out to over 247 million consumers. This leading global media conglomerate in:
Motion Pictures: Have built the no. 1 movie studio in the country in just 5 years; pioneered the integrated studio model in India with creative, production, marketing, distribution and syndication all under one banner.
Television: Are the No. 1 TV producer with the largest number of shows on air and in production with reach across 20 countries in 7 languages across 27 channels. It has also emerged as the fastest growing broadcasting network in India, which in 3 years is among the top 5 networks of the country. Has powered India’s No.1 youth brand – Bindass.
Interactive: Is the only Indian Company to enjoy global presence in the Games space with studios across London, Tokyo, Beijing, Austin and Mumbai making it one of the largest gaming entities from South Asia. The group is providing personalized entertainment on the mobile and web across the country and gearing up with content to leverage the 3G – 4G space.
UTV is listed on India's premier stock exchanges, The National Stock Exchange (NSE) & The Bombay Stock Exchange (BSE) and The Walt Disney Company holds a strategic stake in the company.
