The Anil Dhirubhai Ambani Group-owned Adlabs Films has sealed a multi-million dollar coproduction film financing contract with Ashok Amritraj’s Hyde Park Entertainment, marking Adlabs’ entry into mainstream Hollywood. What is more, this move that is expected to bring vibrancy into the Indian film industry will be the first-of-its-kind alliance between a major Indian entertainment company and a Hollywood major.The investment in films being produced by Hyde Park underlines Adlabs’ intent to partner with global entertainment companies to fuel future growth. The company had tied up with Hyperion Pictures last year, to coproduce Marigold starring Salman Khan and another film Ali Later, that is scheduled to be released this October.“We decided to get into the joint venture with Hyde Park Entertainment as it will help us get a foothold into producing Hollywood films. In fact, we have already started evaluating projects and scripts to finalise our first project,” MD Adlabs Films, Manmohan Shetty told The Indian Express.The multiple-film contract, which will be in force initially for three years, will also help the company consolidate its leadership position in Bollywood. “Since Adlabs is an involved co-producer, the two companies will be evaluating both Hollywood and Bollywood projects together,” Shetty said.As Adlabs is an entertainment conglomerate that produces, processes, distributes and exhibits films, the tie-up will also be leveraged to promote growth in its entire value-chain. The company also plans to produce more Bollywood films in English to cater to this growing segment of viewership in India. Adlabs is slated to distribute 18 to 24 films this year, making it the largest exporter of Bollywood products.
