Lionsgate Films will soon start producing films in India. The North American company—which has already set up an office in Mumbai—has a management team in place that will be announced in a few weeks, along with details of upcoming projects and strategies, the people mentioned above said on the condition of anonymity. Lionsgate Films is a unit of Lions Gate Entertainment Corporation that reported revenue of USD3.2 billion in the year to March 31, 2017. Internationally, the studio is known for blockbusters such as dystopian science fiction adventure series The Hunger Games, romantic drama fantasy The Twilight Saga: Breaking Dawn: Part 2 (2012), science fiction disaster film The Day After Tomorrow (2004), Oscar-winning romantic musical La La Land (2016) and science fiction action movie series, The Divergent.
While its primary focus remains distribution, over time, Lionsgate has ventured into production too, backing projects such as romantic musical , romantic comedy and British-Italian-South African historical drama.
Lionsgate’s India debut comes at a time when many Hollywood studios are either slowing down their Bollywood operations or completely shutting shop.
Last year, Walt Disney Co. India decided to pull the plug on its Hindi movie production business shortly after its big-budget release Mohenjo Daro fizzled out at the box office. Made at a cost of Rs115 crore, the historical epic only collected Rs 58 crore in lifetime box office collections.
Disney’s last Hindi release, Jagga Jasoos hit screens last month only managed Rs 53.29 crore. Industry experts believe that studios such as Viacom18 Motion Pictures and Fox Star Studios are also being selective in green-lighting projects after burning their fingers with over-priced outings. But that is also precisely why it is a good time for a new multinational giant with the requisite resources and muscle power to try and make inroads, experts say. -Live Mint