Insomnia Media to invest ₹300 crore in film, OTT projects
What's the story
Insomnia Media and Content Services Ltd, led by film producer Vishal Gurnani, has announced plans to invest between ₹250-300 crore in films and OTT projects over the coming months.
The investment will fund the production of 10 movies and two web series currently in various stages of development and pre-production.
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Collaborations and partnerships for upcoming projects
All projects are expected to be produced and released within the next 18 months.
Insomnia Media has collaborated with a host of directors and writers for these projects, including Raaj Shandilya, Suparn S. Verma, Remo D'Souza, Pavan Kirpalani, Jayprad Desai, and Apoorv Singh Karki.
The company has also partnered with producer Sandeep Singh and writers Hussain & Abbas Dalal and Deepak Kingrani on other projects.
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'Rollout will help catapult Insomnia to top content creation bracket'
Gurnani said in a statement, "The core of good content stems from writers and creators. The rollout of these films and series will help catapult Insomnia to the top bracket of the content creation ecosystem."
This investment comes at a time when India's film industry is experiencing significant recovery.
According to a report by Ormax, 157.4M people visited a theater at least once in 2023, marking a 29% increase from the previous year and an 8% rise from pre-pandemic levels.
Information
Box office revenues exceed ₹12,000 crore; footfall growth lags
With this recovery, box office revenues exceeded ₹12,000 crore for the first time, but footfall growth lagged.
This suggests that while more people are visiting theaters, they are doing so less frequently than before the COVID-19 pandemic.
We can expect footfall growth to increase with more such investment deals in showbiz.