Relativity Media, B4U engage for Indian content JV
| 20 May 2014
US indie Relativity Media and Bollywood film and television network B4U have formed a 50:50 joint venture to distribute entertainment and sports content in India.
The Relativity B4U venture will invest around US$100 million to create and distribute content across digital platforms, television and film. It will also launch a new pay-TV channel in India focused on Hollywood content in both English and Hindi, and a digital streaming platform called RelaTV.
"This strategic partnership represents an exciting opportunity for Relativity to significantly expand our presence in this vibrant and growing marketplace while creating a bridge for developing and sharing content between Hollywood and Bollywood," said Ryan Kavanaugh, CEO, Relativity.
"By 2020, India is set to become the world's youngest country, and its citizens are adopting new technology platforms – from smartphones to smart TVs – at a dramatic rate. The joint venture positions us well to deliver enthralling content across rapidly emerging distribution channels," he added.
The joint venture will invest in and distribute Bollywood television and film productions, as well as distributing Relativity's films in India, Pakistan, Sri Lanka, Bangladesh, Nepal and Bhutan.
Ishan Saksena, CEO, B4U added: "This joint venture is the natural step in our progression to build a creative film studio and unique technology platform. Our joint venture provides a platform to bring the best of Relativity's intellectual property, production skills, and unique monetising strategies to India, while also providing Indian talent access to global audiences."
Ishan Saksena will manage the venture, overseen by a board of directors, in which each partner will appoint two nominees.