A few days back we reported that Walt Disney is going to back out of UTV Motion Pictures, an alliance that was formed in 2012. And now the latest buzz is that Ekta Kapoor's Balaji Telefilms may be facing the same fate.
The production house has a disastrous 2016 so far. Their big releases like Kya Kool Hain Hum 3, Azhar, Great Grand Masti and A Flying Jatt turned out to be big flops. The highly acclaimed Udta Punjab was a success but the online leakage affected the film's collection.
The group chief executive officer of Balaji Telefilms, Sameer Nair, spoke to Economic Times but did not confirm any plans to shut operations.
He did admit that the production company is facing loses. "Yes, we have suffered losses on Great Grand Masti and Kya Super Kool Hain Hum 3, but with Udta Punjab and Azhar we managed to recover costs. We do constant scrutiny of our business and we have four films under production."
"Films was never a scalable business as it is a very high-risk business. For us, television is and will continue to be our mainstay, which is a cash-generating business. Movies will contribute in spurts, while our focus will be to build ALT, for which we have raised money also," Nair said.
The sources say that Balaji Motion Pictures are not taking any new project as of now. "There is pressure on the film business," a person in the company said. "It is a very high-risk business and BMP has lost big money on films in the past one-and-a-half years. The promoters are not happy and have decided to wait for the result of Half Girlfriend before signing any new project."
All decisions have been kept on hold until Arjun Kapoor, Shraddha Kapoor starrer Half Girlfriend releases in May 2017. As of now, we can say that it will be the last release for Balaji.
Meanwhile, Balaji will only focus on television for the moment.
Via Economics Times