Music rights may lead Adlabs to launch label
ANIL AMBANI-owned Adlabs Films is mulling foraying into music by launching its own music label so that it can control the revenue stream generated through music rights. Adlabs is expected to leverage Reliance’s broadband and telecom value-added services infrastructure for the same. When contacted Adlabs Films chairman Manmohan Shetty told ET that the proposal is being considered though nothing has been finalised. “Music has the potential of being the content for platforms like cell phone and the internet. Ringtones and music downloads from the net are becoming very popular.” However, industry sources believe that the company may soon recruit a CEO to head ADAG’s music division. Also, Adlabs is keen on synergising its majority stakeholder’s presence in telecom and broadband for better control of music rights especially when it has signed multi-crore movie deals. Adlabs Films is also keen on expanding in the regional movies space. “We have decided to launch at least two Telgu movies and two Tamil movies per year,” said Mr Shetty. The regional movies biz is expected to contribute about 10% to the company’s topline. From 2008 onwards Adlabs would not only produce but also direct its own movies. The company recently entered into a co-production deal with Viacom’s MTV Networks for making youth oriented movies. Targeted at the 15-34 age group, Adlabs will co-produce such movies with MTV’s film division - MTV Fully Faltoo Films - which is known for its whacky content. The three movies that are being planned are expected to have a budget of Rs 3-4 crore each. Adlabs Films’ director Puja Shetty would be heading the venture. Asked about Adlabs Films’ controversial strategy to sign directors and actors in the multi-movie deals thus blocking talent, Mr Shetty declined to comment. As far as the company’s exhibition business is concerned, Adlabs Cinemas is introducing the 6D cinema theatre experience. The exhibition chain in collaboration with Cinema Park Entertainment is building the first 6 D theatre in Agra, which is likely to be launched by the year end. These theatres would target tourist destinations and the content aired would concentrate on showcasing Indian culture.
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