Shemaroo Ties Up With IMA For Mobile Distribution; To Invest Rs 200 Cr This Fiscal

Shemaroo Entertainment, the studio, distribution and production conglomerate has tied up with the Israel Mobile and Communication Association (IMA) to ‘explore mobile entertainment’. IMA claims to be the “nucleus of the Israeli communications industry” and represents 100 portfolio companies that offer solutions and services in communications technologies. Although the report is slightly vague, as per information gleaned from IMA’s website, they will develop applications and services around Shemaroo’s content. Six Israeli companies are part of the IMA team currently visiting the major telcos. Shemaroo had recently announced their plan to invest Rs 200 cr in film production and distribution over 12-18 months. In addition to two new movie releases, an animation movie has been planned for December. Shemaroo has a fairly large content catalogue holding distribution rights for around 1,200 Hindi films, 200 foreign films besides distribution rights for 200 non-films which include Gujarati dramas, regional films, Shilpa’s Yoga and children’s films, amongst others. They are aiming for a 35% rise in Profit-After-Tax this fiscal across their entire portfolio.