Both companies will make an equal contribution to the $21m which will be allocated to the production of five Hindi and three Marathi films, as well as distribution deals for Hollywood films.
The Mummy: Tomb Of The Dragon Emperor, released August 1,is the first film to be jointly distributed by PPC and Mirah through this agreement. PPC previously distributed Spider-Man 3, Rush Hour 3 and Hancock across India, excluding the southern states.
'These deals are distribution deals with the studios on an MG [minimum guarantee] basis,' said PPC's chief operating officer, feature films, Rohit Arora. 'We are looking at films that suit our brand. We have not confirmed any other Hollywood product at present. We want to cash in on our competencies in marketing and distribution with non-indigenous product as well.'
Mirah Entertainment is a part of Mirah Group which has primary interests in hospitality and real estate development. 'We would like to move into the film industry and give audience's meaningful cinema. With PPC we get an experienced player with who we share a comfort level. We have identified a few scripts and are keen on exploring the regional market,' said Gaurav Goenka, managing director, Mirah Entertainment.
PPC joint managing director Shailendra Singh said: 'We are confident that our relation with Mirah Entertainment would grow from strength to strength and accomplish our goal of offering the finest in entertainment to the Indian audiences.'