MUMBAI: In one of the biggest deals ever, Percept Picture Company has bought the distribution rights of Spider-Man 3 from Sony Pictures Releasing Of India.
This is for the first time in the history of Sony Pictures’ operations in India, that the company has sold the distribution rights of one of its biggest property to a third party.
Confirming the same to Businessofcinema.com, Percept Picture Company CEO Preet Bedi says, “Percept has acquired the theatrical distribution rights in English and Hindi language for all India territories excluding South India for Spider-Man 3.”
Sony Pictures continues to hold the distribution rights for territories in South India.
What’s more, sources close to the development state that the deal has been struck for an amount close to Rs 105 million (Rs 10.5 crore).
Percept has, in turn, sold the distribution rights to other players in smaller territories.
In the Bombay territory, Percept will be distributing the movie along with Adlabs, whereas in the Delhi, UP and Punjab territories, Adlabs will be distributing the movie with Percept. The rights for the C.P., Berar and Marathwada territories have been picked up by Rajshri, whereas the Central India (C.I.) territory rights are with Prime Focus. In Rajasthan and West Bengal, the movie will be distributed by Marudhar Entertainment and Kapoorchand respectively.
Sources inform that Percept and Adlabs have signed a 50:50 joint venture deal for exploitation of content in the respective territories.
Percept and Sony Picture are also working closely on devising the marketing plan for the film, which is slated for a worldwide release on 4 May, 2007. Furthermore with the release of Spider-Man 3, for the first time ever a Hollywood film will also be dubbed and released in the Bhojpuri language.
Additionally, as has already been reported by Businessofcinema.com, Percept Holdings’ integrated marketing communication solutions agency P9 will be handling the marketing and promotional tie-ups for the film.
Officials at Sony Pictures Releasing of India were unavailable for comments.
Spider-Man 3 has reportedly been made on a budget of $250 million and is being touted as one of the biggest Hollywood releases this year. As of now, the movie will be released with a total of 500 prints in India, but the number if likely to be upped as the release date draws closer. Apart from Hindi and Bhojpuri, the movie will also be dubbed in Tamil and Telugu. Close to 150 prints of Spider-Man 3 will be in English and the rest will be in the vernacular languages.