Paramount Pictures has entered a strategic alliance with Viacom 18 to distribute and market its movie releases across the Indian subcontinent – a market the Hollywood studio considers as offering huge growth potential.
"An alliance with a strong local partner gives us the scope for national distribution of our films, instead of going for several sub-distributors," explained Andrew Cripps, president, Paramount Pictures to Business Standard. "We can build our movie marketing strategies and do promotions activities while leveraging media assets of Viacom 18 such as MTV, VH1 and other internet platforms."
Mr Cripps also told the publication that Paramount will also look to market Viacom 18's Hindi movies on a global basis as part of the deal.
"We have got a fairly reasonably sized portfolio of Hindi films coming up. Some blockbusters and some small budget movies as well," said Haresh Chawla the Group CEO of Viacom 18, in an interview on CNBC-TV18.
"We have got whole machinery that is set up to distribute all over India for Hindi movies. In that same machinery, we are building out a separate division that will focus on the English movies that we will get from Paramount," Mr Chawla added.
"Therefore, we can leverage the relationships that we have and the channels we have - Colors, MTV, Nick, VH1 - plus the online franchisees that we have to pull the audience in."
Viacom 18, a joint venture between Viacom and Network 18, expects between 15-20% of its business to come from English language entertainment in the next few years, according to the report on Viacom 18-owned CNBC-TV18.