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Bengali movies financed by Chit firms

Kolkata, Apr 28 () : Bengali movies’ backbone are chit fund companies, popularly known as Tollywood.

At present, about 30 per cent of all Bengali movies are produced by chit fund companies and this was likely to grow. Now the filmdom is in trouble.

Chit firms or finance companies in the past three to four years, such money-making companies have entered into producing Bengali movies on a partial or complete basis. However, these firms aim’ is not making profit. The companies are into producing films, to build brand image, mostly with popular stars, as it will reap trust among depositors.

Rose Valley and Prayag Group are big names in filmdom. Prayag has produced two national award-winning Bengali movies. Rose Valley, who raises money through hotel membership schemes, produced 17 Bengali movies and three are about to be released. Prayag Group has a ‘film city’ in the suburbs and Shah Rukh Khan is the brand ambassador. Advertisements of these companies are the mainstay in all the leading channels.

Rs 100 crore is invested each year by chit firms in production outfits, around 20 films produced by them are now on the floor. Rs 400-500 crore have been invested by chit fund companies in the past four years.

The publicity and brand building that comes from the movie ventures is the mainstay. Production houses have multiple business interests, from fishery to real estate, so it is very difficult for the technical crew to find the source. Goutam Kundu of Rose Valley buys movies it finance for 2 crore for its channel Ruposhi Bangla.

Kundu’s distributes Bollywood movies across WB. In one, the agreement is done before the movie is sold and money paid upfront and earnings for a distributor are higher. Second model is after the movie is sold, the distributor distributes the film and gets only five to seven per cent.