'Ramayana': Makers target massive ₹100cr music rights deal
What's the story
The upcoming film Ramayana, starring Ranbir Kapoor and Yash, is making waves with its pre-release business deals. After finalizing a North Indian theatrical distribution deal with Dharma Productions and an overseas distribution deal with Sony Pictures, the makers are now eyeing a record-breaking music rights deal. According to Pinkvilla, producer Namit Malhotra is targeting a ₹100cr deal for the all-language global music rights of Ramayana: Part One.
Bidding war
T-Series, Sony Music, Saregama, and Universal in the race
Several major music companies are currently in talks to acquire the global music rights of Ramayana. These include T-Series, Sony Music, Saregama, and Universal.
As per reports, Sony Music has made the highest bid at ₹70cr, followed by T-Series with an offer of around ₹60cr.
However, Malhotra is reportedly holding out for a figure closer to ₹100cr.
Historic deal
Potential record-breaking deal for 'Ramayana'
If Malhotra succeeds in securing a ₹100cr deal for Ramayana's music rights, it will set a new record for Hindi films.
The current record is held by Ranveer Singh's Dhurandhar: The Revenge, which sold its music rights to T-Series for ₹54cr.
Meanwhile, the film's trailer was initially scheduled to drop on July 24 but has since been postponed with no new date announced yet.
Marketing investment
'Ramayana's marketing budget reaches new heights
In addition to the music rights deal, the marketing budget for Ramayana has also reached new heights.
The film's international distribution deal with Sony Pictures is an FOC (Free of Cost) agreement, where instead of paying producers upfront, Sony will invest in the film's marketing.
The studio has reportedly committed $25 million for this, while production will contribute another $15 million.
This brings the total marketing spend to an astounding $40 million, a figure rarely seen in Indian cinema.