DQ Entertainment & PNC ink $50 million MoU for 6 movies

MUMBAI: DQ Entertainment plc has entered into a Memorandum of Understanding with Pritish Nandy Communications.

The MoU is the basis for the planned co-development and co-production of six movies with PNC over the next 3-4 years, with an estimated total global budget of approximately $ 45-50 million.

These films will be in animation & live action and each project will be separately announced once the global co-production budgets are agreed.

DQ Entertainment chairman and CEO Tapaas Chakravarti said, "We believe that Bollywood offers many exciting new opportunities and we are ready to seize them with the support of our new co-production partners PNC. The animation and gaming market in India is about to explode and this partnership will explore every new idea that exists or can be developed. PNC is a creative company and a thought leader in the business of live action movies."

"We would like them to share our space and experience in animation and gaming and vice-versa, we would like to share their expertise in live action movies to our mutual creative and commercial advantage. We have been discussing these initiatives for quite some time and the culmination of this understanding is based on not only sharing of ideologies but serious governance norms existing in both the companies. PNC’s creative & commercial reach in Bollywood and global Indian diaspora combined with DQE’s extensive global co-production and commercial networking, will prove good for creating great Indian content suitable for next-gen audiences in India and abroad," he added.

Pritish Nandy Communications chairman Pritish Nandy said, "DQE and PNC have a unique sharing of minds and we believe that together we can do a whole new range of exciting things with creative and commercial opportunities. DQE is a world leader in the high-end animation & film content space and the range and quality of their work has deeply impressed us. We would now like to create some unique movies as well as movie-based games to capture young and new audiences in Bollywood as well as on the international platform and it is our pride to associate with DQE’s extremely talented team of 3000 professionals across the globe These projects will be based on modern new age animation flicks, Indian mythology-based stories, some of which have already been conceived by PNC as well as remake of great Indian classics for today’s audiences in an exciting new format to breath new life into them. We are also exploring gaming extensions for all platforms to be co-developed with DQE including comic book spin-offs."