MovieVerse Studios, a new film content studio from the Anand Mahindra and Aditya Pittie-backed IN10 Media Network, will be headed by Vivek Krishnani, who joined the company from Sony Pictures Entertainment India in June 2022. According to Krishnani, the film studio will create Hindi- and regional-language-specific content to appeal to both streaming and theatregoers. Six films in Hindi and Tamil have been announced by the studio.
“As part of our immediate development slate, we have four Hindi films and two Tamil films. As we expand our footprint in other regional languages, this number will continue to grow,” he said. The studio will focus on producing small, medium and big-budget films. “Once the content has been developed, we will then partner with studios/OTT platforms to co-invest in a wide range of small and big-budget films ranging from Rs 15 crore to Rs 100 crore plus,” Krishnani stated.
The studio has not yet finalized its release schedule, he added. We are now in the lifecycle of our development but aim to share them with audiences in the first quarter of 2024. When compared to the prior fiscal year, IN10 Media’s net loss increased 47% to Rs 113 crore. IN10 Media owns and runs TV channels like EPIC, ShowBox, Filamchi, Gubbare, and Ishara.
Tofler disclosed financial information for the company, showing that operating revenue had increased by almost four times to Rs 207 crore and operating expenses by almost 2.5 times to Rs 321 crore. MovieVerse Studios intends to create content in a variety of categories, including drama, comedy, action, and thriller.
In collaboration with Bake My Cake Films, the studio is producing an action survival rescue drama based on a true story, which will be directed by Sandeep Leyzell and Shobhna Yadav. Umang Vyas will helm the production. The lineup also includes a thriller that will be directed by Viki Rajani and Pavan Kripalani of Faith Films.
Additionally, DING Entertainment and the studio have planned a supernatural drama. The film schedule also includes a Tanuj Garg and Atul Kasbekar action thriller drama that was coproduced by Ellipsis Entertainment. It will distribute two Tamil films in collaboration with TG Thyagarajan of Sathya Jyothi Films, the largest film production and distribution firm in southern India.
Tamil filmmaker Binu Subramanyam is directing both films. Script Stories Media owns a 99.99% stake in the company, which also owns EPIC ON and DocuBay streaming platforms in addition to Juggernaut Productions.