BUSINESS
English movie channel Sony PIX has gained exclusive rights of premiering all Hollywood movies released worldwide by Sony Pictures.
English movie channel Sony PIX has gained exclusive rights of premiering all Hollywood movies released worldwide by Sony Pictures.
The move gives official rights to PIX to exclusively telecast all the Hollywood box office titles of Sony pictures. As part of the agreement, the deal will also grant PIX long term access to the extensive Sony Pictures Entertainment (SPE) library.
SPE will benefit from a long term relationship that keeps their films within the Sony family of companies.
Starting January next year, English movie buffs can get to see latest Hollywood blockbusters like Salt and Karate Kid.
Sony Entertainment COO NP Singh said that currently PIX has 21 per cent of the market share close to HBO which has 23 to 25% market share. Star leads with 36%. Earlier, Sony Pictures movies were exclusively screened on HBO.
Singh expressed confidence that the output deal with Sony Pictures will help the channel reach a wider audience.
He said the channel had recently acquired Oscar winning Hurt Locker and the Michael Jackson movie This is it.
According to him, the English entertainment space was restricted to six main metro cities whereas the market is gradually growing now in terms of revenue and viewership.
"In 2008 and early 2009, there was sluggishness in the market and slow growth in the ad pie. The impact was felt considerably in the English genre segment. Later, the revenue growth was 30 per cent and it is continuing," Singh said.
"This initiative will further enhance the offerings from PIX and change the dynamics of the English Movie Entertainment space," he said.
As part of this strategic collaboration, Pix will be premiering some of the recent biggest blockbusters like Salt starring Angelina Jolie and Resident Evil starring Milla Jovovich.
Sunder Aaron, business head, PIX said with 40 to 50 Hollywood movies released by SPE every year, the deal with the studio will help PIX to raise its content level.
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