MUMBAI: Midas Experiences is looking at providing one stop solution to film makers by not just providing services to promote films but also by funding the marketing budget of the films.
It may be recalled that Vistaar Religare was the first one to foray into providing funds for P&A (prints and advertising) of films beginning with Victory starring Hurman Baweja in December last year.
Midas Experiences will be providing a platform to the producers with film funding. Speaking to Businessofcinema.com Midas Experiences MD Karana Verma says, "The fund has been created for the advertising and marketing for movies. A lot of movies get made in our industry but they die because of lack of funding. Over 1000 films are released in India annually since the business of entertainment has gained pace. However the current recession scenario has restricted the film marketing budgets. It’s mostly the small budget movies that suffer for example a film made in the budget of Rs 3 to 4 crore may have the potential but they do not get adequate promotions due to the lack of funds and this is where we come in."
The decision to fund a film will be taken after considering various allied factors like strength of the script, distribution strength and the production house. Verma says, "We have been in the business for three years and during this time we have worked with various production houses and brands so we understand the business well. Our idea is to get movies that are small and market it well."
The agency will not only provide funds to the film but will also extend their other services to the producer such as film PR, marketing, media planning – buying and integrated branding solutions.
"We will be involved with the film right from the scripting stage itself," says Verma. The company plans to invest approximately Rs 150 – 200 million (Rs 15 – 20 crore) in it. According to Verma, the company will only be targeting small budget films since they lack the source.