New Delhi: Bodhitree Multimedia Ltd, the content production house known for the Netflix original Classis planning to open a media and entertainment (M&E) center in Thane near Mumbai with an investment of €500 crore in the first of two phases.
This facility will include shooting rooms, post-production infrastructure, skills development institutes and opportunities for tourism in the country’s growing M&E market.
“With the media and entertainment boom in the country, especially since the emergence of OTT platforms, there has been a huge infrastructural challenge for conducting high-end shoots in Mumbai. Both physical and human infrastructure are required to produce cutting-edge content,” said Mautik Tolia, director of Bodhitree Multimedia Ltd. in an interview.
The project, known as Dharamveer Media City, will have four components, Tolia said. First will be filming locations, including those for underwater sequences; second post-production facilities to cater to both local producers and global studios; third, skill development institutes for employees in hair, make-up, lighting, art and other similar departments; and fourth will be opportunities for tourism.
The investment will be made in phases, with approx €500 crore in the first phase, raised by a subsidiary of Bodhitree Multimedia. Tolia expects the project to be operational within a year at 30% capacity.
According to a report by the Confederation of Indian Industry (CII) and the Boston Consulting Group, India’s M&E industry is estimated to reach $27-29 billion by 2022. However, the M&E industry accounts for less than 1% of total GDP, indicating a need for better facilities and opportunities, especially for new talent. An earlier version of the same report had stated that the development of infrastructure and intellectual capital was key to boosting India’s VFX and animation industry.
Tolia said several producers currently prefer to import equipment or go abroad to shoot when facilities are unavailable in India. “Many older studios are also closing, so the next facilities need to be developed,” he said.
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