MxMIndia

Tag: Reliance MediaWorks

  • The company commemorated the triumph with a star-studded event graced by accomplished cinematographers, directors and producers

    Reliance MediaWorks crosses 400-film mark

    By a correspondent

     

    Reliance MediaWorks, the media and techno-creative solutions provider and a part of the Reliance Group, announced the landmark achievement of completing 400 films successfully at their digital lab.

     

    The company commemorated this triumph with a star-studded event graced by accomplished cinematographers, directors and producers that Reliance MediaWorks has worked with on their projects.

     

    Set up in 2008 as Asia’s first Digital Intermediate Lab with a 4K facility, the Reliance film lab revolutionized the way films are processed in India. It also offers cutting edge VFX Solutions to Indian and international productions through its state of the art VFX studios in LA, London and Mumbai. With specialization in highly complex VFX, the company and its team of award winning artists stand at the forefront of an extremely dynamic world of VFX production.

     

    Equipped with a state of the art DI facility to cater to film, TV and web related video content, the team has worked on a slew of recent blockbusters that include Chennai Express, Ram Leela, Krrish 3, Yeh Jawaani Hai Deewani, 3 Idiots, Singham, amongst others.

     

    Venkatesh Roddam, CEO, Reliance MediaWorks said, “At Reliance MediaWorks we have always believed in adding value to the filmmaking process by keeping up to date with the latest technology and techniques. The completion of 400 films is a testimony of our commitment and hard work.”

     

    Krishna Shetty, President – Post Production Services, Reliance MediaWorks said, “Digital filmmaking has opened up greater possibilities and opportunities for filmmakers than ever before. Every movie, from the massive big budget blockbusters, to the small independent films made on a shoestring budget, have been influenced by the advents in digital technology and filmmaking. We look forward to continuing our efforts to reinvent the ways in which movies are viewed.”

     

  • Turner International in India has consolidated creative services and partnered with Reliance MediaWorks for post-production services

    Turner consolidates creative services, partners Reliance MediaWorks

    By A Correspondent

     

    In a move that consolidates its in-market operations, Turner International India has announced the establishment of Creative Services in India for its entertainment networks including Cartoon Network, Pogo and WB. Turner has commissioned leading film and entertainment services company Reliance MediaWorks Ltd (RMW) to provide the full gamut of post-production services.

     

    With in-market end-to-end capabilities that will be a combination of in-house creative and outsourced production resources, this initiative will enable Turner to be even more poised and nimble-footed in responding to market requirements, notes a communique.

     

    Siddharth Jain

    Said Siddharth Jain, Managing Director, South Asia, Turner International India: “Turner has been consistently ahead of the curve with a proven track record of successful localization of our brands. We are confident this new move will give us further competitive advantages in this dynamic and constantly-evolving consumer and business landscape, especially as we seek to build on Turner’s strategic shift to further empower local markets.” He adds, “We are happy to work alongside Reliance MediaWorks and we look forward to continue the delivery of quality content on our leading platforms.”

     

    Commenting on the occasion Venkatesh Roddam- CEO, Reliance MediaWorks said: “We are pleased to be able to offer a one-stop production facility by combining the latest in television studio technology with the most experienced personnel to create winning solutions for Turner.”

     

  • The move, aimed at enabling RMW to get business from Hollywood in Los Angeles as well as broadcast companies in New York, comes in the backdrop of fresh funding by RMW

    Reliance M’Works to shift part of its ops, top execs to US

    By Nandini Raghavendra

     

    Reliance MediaWorks, a film and entertainment firm owned by Anil Ambani, is shifting part of its operations to the US, where it will move half a dozen top executives including its chief executive officer for film and media services, Venkatesh Roddam, and chief operating officer of media and creative services, Naresh Malik.

     

    The move, aimed at enabling RMW to get business from Hollywood in Los Angeles as well as broadcast companies in New York, comes in the backdrop of fresh funding by RMW in its JV with Steven Spielberg’s Dreamworks Studios and an impending PE investment in the Indian company by L Capital, a fund created by the world’s biggest luxury group LVMH.

     

    Mr Roddam said that Bollywood production houses are emulating business models of Indian IT firms of the 1990s. A presence in the US will provide RMW the keys to big markets like China and Canada.

     

    Currently 25-30 per cent of the company’s top line for the services business is generated overseas, and with the strengthening of the front-end operations in the US, “we expect a significant upswing over the next years,” said Mr Roddam, who is relocating to New York. “The film and media services business is treading the part that technology companies took a decade ago, where India will get recognition as a market that can provide the right mix of scale, quality and creative abilities in a cost optimized model,” he added.

     

    RMW has a multi-locational grid of facilities, front offices and strategic alliances across the globe, which it hopes will position itself to both offer high quality services within its own facility in Burbank and London, as well as tapping into the quality and scale of services available through its operations in India.

     

    A presence in the US would also help RMW leverage the group’s deal with Steven Spielberg’s Dream-Works Studios where it had infused a much-needed funding of $825 million in 2009, followed by another round this year. RMW’s tUS presence will also help it grab a bigger piece of the global film studios and broadcasters pie in the US.

     

    Similar facilities in Canada could help it reduce costs. Canada offers tax rebate on payroll, which can lead to almost 40 per cent savings.

     

    It also has the language and time zone affinity with the US, where RMW has facilities and so exploring further opportunities for its VFX, stereoscopic 3D conversion and digital restoration services in Vancouver and Montreal would make business sense for the company, Mr Roddam said.

     

    Last week, CEO Anil Arjun, resigned from the company, though he will continue as a strategic advisor.

     

    A few weeks ago, ET reported that L Capital, the private equity arm of the world’s biggest luxury company LVMH, will invest Rs605 crore in RMW, for which L Capital will acquire a substantial minority stake in the company according to a person close to the deal who did not want to be named.

     

    Meanwhile, Reliance MediaWorks has reported that its consolidated loss for the quarter ended June 30, 2012 has increased to Rs131.3 crore, compared to Rs120.14 crore a year ago.

     

    Source: The Economic Times

    Copyright © 2012, Bennett, Coleman & Co. Ltd. All Rights Reserved