There is some bad news for the industry. One of the leading studios in Bollywood, Disney India has decided to exit from Hindi film industry.
In 2012, Walt Disney collaborated with UTV for movie production business. They have given huge hits to the industry including Bollywood’s highest grosser PK.
However according to the report published on Economics Times, Disney is gearing up to pull out of this partnership with UTV, citing loses and an unviable partnership. They will be going to focus on its Hollywood films distribution and television and licensing and merchandising business.
Sidharth Roy Kapoor will also say farewell to UTV after the end of this year. Media was abuzz with rumours that Sidharth might be joining his friend Screwvala, who started UTV Motion Pictures and sold it to Disney in 2012. Incidentally, Screwvala is also planning to get back into the film production business with his new company RSVP.
That scenario was already predicted as UTV have to suffer from heavy losses recently. They had big flops like Tamasha, Phantom, Saala Khadoos, Fitoor and Mohenjo Daro. Only one release Baaghi turned out to be a success in the recent time. On the other hand, they earned huge profits from Hollywood films The Jungle Book and Captain America Civil War.
As of now UTV has two films in the pipeline. One is Aamir Khan starrer Dangal releasing on Christmas and other is Ranbir Kapoor’s Jagga Jasoos.
Via Economics Times