The Walt Disney Company, which is in the process of forming a joint-venture with Reliance, said it considers India as a “long-term proposition” with the country’s entertainment industry releasing a large number of movies in multiple languages every year.
Alan Bergman, Co-Chairman, Disney Entertainment, The Walt Disney Company, said, “We certainly believe in the Indian market. It’s obviously a huge market which is growing at a fast pace.” He pointed out that India has a robust movie industry which releases a large number of films every year. “So, it’s a long term and a big proposition for us,” Bergman stated.
Over 1,796 films were released in 2023 in India and overall theatrical revenues reached ₹120 billion, as per FICCI-EY report.
Bergman, however, refused to comment on the proposed joint-venture with Reliance, which will combine the businesses of Viacom18 and Star India. The companies, had in February, announced that they will merge their respective digital streaming and television assets in India “to create a world class leader across entertainment and sports.” The JV partners have sought the CCI’s nod for the same.
Upcoming projects
Bergman was speaking at a panel discussion at the D23 Expo, the three-day fan event held at Anaheim. During the event, the entertainment major announced over 25 new movie and series titles. These include Moana 2, Mufasa : The Lion King, Zootopia 2, Frozen 3, Avatar : Fire & Ash, Toy Story 5 , Incredibles 3 and Elio, among others. The company showcased trailers, sneak peaks and concept art of the new titles. It included upcoming and future projects across Walt Disney Animation Studios, Pixar Animation Studios, Lucasfilm, Marvel Studios, Searchlight Pictures and 20th Century Studios.
“So we have these seven fantastic studios. When I look at the composition of the titles we’re making, we’re making original titles, sequels and spin offs,” Bergman said. He said the company tries to release approximately one title from Pixar and Disney Animation a year and about three titles and a couple of live action series from Marvel. Lucasfilm has approximately one to two titles every year with a couple live action series, while Disney live action and 20th Century have about three to four films a year, he added. Meanwhile, Searchlight has about five smaller-budgeted films. “So, we absolutely have the strength of these brands,” he said.
Meanwhile, it also honoured 14 new Disney legends who have “left an indelible mark on the company’s history.” The 2024 honorees included Harrison Ford, James Cameron, Miley Cyrus and Angela Bassett, among others
The author is at Disney’s D23 Expo at the invitation of the company