MUMBAI: Studio 18 (The Indian Film Company), worldwide distributors of Singh is Kinng have fetched the highest ever sum for Bombay territory and music rights of the film. The movie stars Akshay Kumar and Katrina Kaif in the lead roles, is directed by Anees Bazmee and produced by Vipul Shah.
While Raksha Entertainment has bagged the Bombay territory theatrical distribution rights (excluding Mumbai city) for a whopping Rs 100 million (Rs 10 crores) (including print and publicity), Times Music’s newly launched label Junglee has bagged the music rights for Rs 135 million (Rs 13.5 crores), which includes Rs 35 million (Rs 3.5 crores) for promotion and marketing.
The Indian Film Company and Studio 18 CEO Sandeep Bhargava says, "This is a landmark valuation and we are very proud to be associated with the biggest films of 2008 – Singh is Kinng and Ghajini. We are very sure the music will do very well, we have heard the music and it is extremely rocking, more so importantly we are very sure that the music will do well for the entire value chain."
Producer of Singh is Kinng Vipul Shah adds, "Akshay Kumar has been commanding a huge draw, whether it would be the box office, satellite or music. I am not surprised at all, as Akshay Kumar is a very dependable superstar and has proved his worth time and again."
While refusing to confirm the acquisition price Times Music COO Adarsh Gupta said, "We have heard the songs of Singh is Kinng and we feel it is Pritam’s best work till date. Based on our experience and understanding of the current market dynamics, we believe we are in a position to monetize the music of Singh is Kinng not only in a true conventional way, but also create newer avenue."
At the time of filing this story, Raksha Entertainment’s Rakesh Sippy remained unavailable for comment.