Time Media & Entertainment has announced the revival of its movie business with new verticals and an investment of more than ₹400 crore.
The firm has announced eight films, two web series, and two music video projects.
Time Media said it was partnering with NH Studioz, a content house with distribution of Indian cinematic content, Triflix and Ninjoor Pictures among others, for the projects.
“We are revolutionising the future with frontier technologies that will take Indian film-making and content creation to the next level,” said Pravin Shah, chairman, Time Media & Entertainment.
Apart from its established verticals namely Time Films and Time Audio, Time Media has now diversified into virtual studios, artists network and motion picture services.
“Our new verticals will add and augment our holistic integrated offering to Indian entertainers,” said MD Sagoon Wagh.
Viral Shah, director, Time Media & Entertainment announced that the company would soon set up an advanced chroma studio in suburban Mumbai at an investment of ₹100 crore.
“This will be the biggest shooting floor in Mumbai sprawling across 30,000 sq. ft and 55 ft height,” Mr. Shah said, adding that It would have world class technologies, providing the finest services nationwide in collaboration with Real Touch Studios.
While an investment of ₹275 crore has been earmarked for the movies business, about ₹25 crore will going to Time Audio, company executives said.
