Channel pays extra crores for Raajneeti
Buzz is that the satellite rights of Raajneeti, that were sold to Star TV before the film’s theatrical release, have fetched an additional Rs 6 crore from the channel following its phenomenal box-office performance.Updated: Aug 07, 2010, 16:13 IST
Buzz is that the satellite rights of
, that were sold to Star TV before the film’s theatrical release, have fetched an additional Rs 6 crore from the channel following its phenomenal box-office performance.
Apparently, the rights were bagged for Rs 18.5 crore, with a clause in the contract stating that if it did a business of Rs 44 crore and above, Star TV would have to pay producer-director Prakash Jha an additional Rs 25 crore. And they have reportedly complied.
Jha refuses to confirm the numbers but admits to an escallation clause. “When you sell a film’s satellite rights before its release and you are confident of your product, it’s not unusal to enter into such an arrangement,” he says. “It’s happened in the past too. It’s like you sell a film’s territories on minimum guarantee with the expectation that if the film performs, you will get an overflow.”
Sameer Rao, senior VP, strategic planning and commercial, Star TV, refused to comment on the commercial aspect of the deal: "All I can say is that we have bought the telecast rights of Raajneeti for a fair value."
The film, a contemporary Mahabharat featuring Ajay Devgn, Katrina Kaif and Ranbir Kapoor among others, had the second biggest Friday opening in India after 3 Idiots and the biggest Friday opening in the first half of 2010, beating Kites.
Overseas, it opened to weekend business of $2.25 million (approximately Rs 10.35 crore), and had collected Rs 54.75 crore by the end of the week, to set a record for the biggest week in the first half of the year, beating Housefull. It’s in third position after 3 Idiots and Ghajini.
Channels have been paying big money in the scramble to acquire satellite rights. Trade sources say Kites fetched Rs 20 crore and was telecast on Colors within a month of its release. 3 Idiots that scored 10.9 on the TRP charts after its premiere on Sony, went for Rs 38 crore.
Once Upon A Time In Mumbaai has apparently netted Rs 10.5 crore, I Hate Luv Storys got Rs 10 crore and Peepli Live was sold for Rs 8 crore. Even under-production films like Tees Maar Khan, Guzaarish and No One Killed Jessica have apparently been sold for Rs 24 crore, Rs 20 crore and Rs 10 crore respectively.