Reliance-Disney merger to light fuse for new movie announcements, say experts

New film announcements, which have slowed down in the past few months, are expected to come back with a vengeance once the Reliance-Disney merger goes through as the combined entity is expected to be aggressive when it comes to theatrical films, experts told Mint. For now, producers and actors are in a wait-and-see mode and only a handful of “safe” films in genres like action and horror comedy are finding favour at the box office.

A senior film producer, who did not wish to reveal his name, said: “The only strategy right now is to do nothing. There is likely to be some movement in announcements once the Reliance-Disney merger goes through and they look to dominate both the theatrical and OTT markets. Those announcements should start coming in January and the films will likely be released by mid- to late-2025.” An aggressive approach by the merged entity will also force rivals to start greenlighting more projects, this person added.

Old wine in new bottles

The only theatrical release announcements as of now are for sequels like Hera Pheri, Welcome, Housefull, Border, Son of Sardaar and Raid. The producer quoted above said that this is the only way filmmakers can play it safe and ensure some box office returns for now, and that once the Reliance-Disney merger goes through, there should be a boom in both theatrical and OTT productions.

Following the box office failure of films like Chandu Champion, Maidaan and Sarfira, genres like biopics, sports dramas and films with social messages have taken a backseat. According to media reports, biopics on Sourav Ganguly and Abhinav Bindra have been put on hold due to the failure of recent films in the genre.

“When something works, everyone starts chasing the same thing until its charm fades away completely because the format becomes predictable and repetitive and audiences lose interest,” said film producer Yusuf Shaikh. He added that many films were planned during the Covid-19 pandemic as streaming platforms were willing to pay huge sums to acquire their rights amid lockdowns. Now that that enthusiasm has waned, it has become more important for the film to say something new and for the makers to present it in a smart way, even if it belongs to a well-worn genre. That said, there is a particular concern right now for biopics, sports dramas and films with social messages.

Producer Tanuj Garg of Ellipsis Entertainment said, “Sports dramas and biopics are not doing much, probably because they are getting repetitive and follow the same arc – from underdog to hero or rags to riches. There is nothing unusual or surprising in their narrative, judging by the latest examples. That said, it is unfair to generalise as a good film is a good film at the end of the day. So perhaps if a really compelling and entertaining sports drama or biopic on an iconic personality releases, it will be well received.”

Merger for 8.5 billion dollars

On August 28, the Competition Commission of India (CCI) approved the proposed merger of Disney Star, the local unit of The Walt Disney Company, and Reliance Industries-controlled Viacom18, with some voluntary modifications. This will pave the way for the largest deal in India’s media and entertainment sector, creating an $8.5 billion entertainment network.

The approval came just a week after the CII said the merger would hurt competition due to the two entities’ power over cricket broadcasting rights, according to a Reuters report.