MUMBAI: The Indian Film Company has sold the music rights for two of its films namely Kidnap and Dil Kabbadi to Sony BMG.
While traditionally music rights in Bollywood are sold in perpetuity, TIFC has sold the rights to the soundtrack of these films to Sony BMG for a period of 12 years.
Dil Kabbadi is scheduled to release on 19 September, whereas Kidnap starring Sanjay Dutt and Imraan Khan, directed by Sanjay Ghadvi is due for worldwide release on 2 October.
The soundtrack of Kidnap is composed by Pritam. The company acquired worldwide exploitation rights for the film during the last fiscal year.
The Indian Film Company’s investment adviser CEO Sandeep Bhargava said, "The structure of this sale is exactly in line with our strategy to maximise and maintain a strong portfolio of intellectual property rights. We have successfully structured the sale of music rights for a limited duration, breaking away from the industry standard of music IPR being sold in perpetuity. We are proud to have pioneered a new standard for the industry."