Shemaroo's 'Super K' to give fresh lease of life to kids animation films in India
The pioneering initiative of Shemaroo Entertainment Ltd. is expected to give a fresh lease of life to kids animation film makers, who were finding it difficult to survive in India due to lack of requisite support from film exhibitors, distributors and advertisers-sponsors.
- (1888PressRelease) October 21, 2011 - Shemaroo Entertainment Ltd., an established integrated media content house in India synonymous with quality entertainment, is opening a new chapter in the fast growing Indian entertainment business by releasing its newest 3D CGI animation film 'Super K' on the Online platform first. This pioneering initiative by Shemaroo is expected to give a fresh lease of life to kids animation film makers, who were finding it difficult to survive in India due to lack of requisite support from film exhibitors, distributors and advertisers-sponsors.
India is a young nation with over 64% of its citizens below the age of 34 years with literacy rate of around 80% amongst the age group of 15-24 years. (Source: IAMAI - 2010). With 81 million internet users and 548.7 million active mobile phone users, the internet has had a magical effect on consumers' viewing habits and the proliferation of devices has altered their media and entertainment consumption behavior. While the traditional media offered passive consumption, new media facilitates interactivity, accessibility and availability. A key aspect of new media is the shift in focus from functional innovation to humanization of technology, bringing the ability to connect with consumers in more meaningful ways. (Source: FICCI- KPMG Report 2011).
Conceptualised, and produced by Smita Maroo, directed by Vijay Bhanushali, the super hero animation film and Shemaroo's first home production, 'Super K', will be easily available and accessible anywhere and to anyone who has Internet connection and access. The unique film will be released on online platforms in the month of November in two languages (English and Hindi), which will make it the biggest release ever for any animation film in India.
It is expected that 3G will bring in lot of services and revenues for the entire ecosystem. 3G is expected to bring in high quality voice as well as high speed data and video services, all three being key components of future Mobile VAS. Services such as video telephony, mobile TV, video on demand will be offered relatively in short span of time (Source: IAMAI - 2010). Traditionally, speed has been considered as limiting factor in growth of value added services. The ongoing roll-out of 3G and BWA services could potentially address this gap. According to KPMG Consumer and Convergence Survey IV, August 2010, propensity to buy mobile content is highest amongst Indians when compared with consumers in G7 countries and BRIC average. Multilingual content, application support around languages, killer applications and readiness of handsets; could drive over Rs. 55,000 crores of VAS revenue by 2015.
The cost of network access and handsets is falling, penetration of wireless networks is increasing and India's young population is demonstrating a huge appetite for digital content. With a rapidly expanding new media universe, companies like Shemaroo Entertainment Ltd. are recognizing that new media technologies offer better engagement with consumers, and are increasing their investment in this space.
Talking about her most ambitious and pioneering venture, the multi-faceted Smita Maroo, Head-Animation Business, Shemaroo Entertainment Limited, says, "The online release of 'Super K' is the first-of-its-kind in the Indian entertainment business and a breakaway concept away from the confines of theatrical releases. Children's films are rare in themselves but empowering and allowing parents and kids to watch 'Super K' in the comfort of their homes or anywhere anytime at their convenience will bring entertainment to peoples' doorsteps. 'Super K' will open up new avenues in Indian entertainment and also set up new standards in providing entertainment in online digital media."
The 95 minutes full length 3D CGI animated feature film 'Super K' is a superhero film that will entertain the entire family. Unlike most superheroes, who are born, 'Super K' is created and a goof-up causes him to turn out to be a freak unable to control his powers. As Badmess along with the evil Dr. Ozox plans to take over Dreamzone, 'Super K' has to team up with his friends and also learn to control his powers. The story of 'Super K' explores his magical escapades in Dreamzone, with an interesting mix of action, comedy and fantasy. Its website is www.superkloud.com and the film will be promoted extensively and aggressively through the internet and social digital media including Facebook, Youtube and Twitter amongst others.
Over the years, Shemaroo Entertainment Limited has successfully adapted to changing content consumption patterns by expanding into content aggregation and distribution for broadcasting on television, mobile and digital platforms. It is continuing the expansion into new media platforms with interesting content. Further, it has produced award winning animation films like Bal Ganesh, Bal Ganesh 2, and Ghatothkach based on Indian mythological characters. Ghatothkach was one of the first Indian animation film to be released in 7 languages and was screened at Cannes Film Festival 2007.
Shemaroo understands both the big screen format, movie business and animation. It has a better synergy to get a product out in the market. Its aim is to get good and interesting stories out there. Animation in India is very new, not more than a dozen feature length products have been released. The fact that more movies are coming out does not lead to competition. In fact, it's good that the audience is getting a chance to sample and start showing preferences for stories. Rather, animation films are competing against the live action medium. As far as India is concerned, there is so much demand for good content. The storytelling ability exists. It's just a learning curve for everyone to reach to the audience, to understand what the kids or the theatrical audience wants. Once that happens, you will get to see many more good films. As animation has just started, so mythological is the flavour of the season. It takes a long time to market an animation film. With the mythological genre, the audience is already aware of the characters so the battle is half won.
Shemaroo's next strategy in animation - since it is a content house and understand the movie business - is to get as many good products out in the market. "We understand animation creation marketing and distribution. As far as India is concerned, there is so much demand for good content. The storytelling ability and international quality production capabilities exist. The challenge is only to bridge the distribution gaps to reach the target animation consuming audience, the kids and families. Once that happens, you will get to see many more good films. In line with this strategy, we have ventured into creation of live-action and animation among other content. We look to bring unique entertainment genres across the various platforms that audience will love to consume," says Maroo.
For all the hype surrounding new media, few companies have figured out how to profit from their initial forays into the arena. From running a social media website to publishing a traditional print newspaper online, every company needs to turn the corner from investing in digital businesses to profiting from them. Companies can monetize their offerings through advertising and subscription-based models. New Media has two major sub-segments at present, which are highlighted below: 1. Mobile Value Added Services (MVAS) 2. Internet enabled. (Source: FICCI- KPMG Report 2011). Shemaroo Entertainment is also an eminent player in the same space.
Disclaimer:
The Company is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India ("SEBI"). The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers at www.yesbank.in and www.icicisecurities.com . Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" of the Draft Red Herring Prospectus. The equity shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. State Securities laws."
For more information, please contact:
Janki Trivedi, Adfactors PR, 09820080835, 09820531932
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