International film studio Lionsgate is out to strengthen its presence in India.
It has named media executive and entrepreneur Rohit Jain, a 20-year veteran of the Indian media industry, to head its new office here.
Lionsgate has indicated that the move is part of its strategy to expand in India, reports variety.com.
“We’ve been focused on the enormous opportunity created by the Indian marketplace for years, and Rohit checks off all the boxes as the right executive to lead our business there,” said Lionsgate Chief Executive Officer Jon Feltheimer.
“Lionsgate brings to this territory a global content platform, an entrepreneurial mindset and the agility of a next generation digital age company. Rohit is ideally qualified to leverage these strengths into accelerating growth and new business initiatives in the years ahead.”
According to variety.com, Jain has served for the past seven years as the deputy CEO of Videocon d2h, a media company he helped grow from a start-up to over $1 billion in annual revenues.
He also helped orchestrate Videocon’s listing on Nasdaq in 2015 followed by the announcement of its merger with Dish TV India in 2016.
Lionsgate India will spearhead all licensing to local linear and digital platforms in the territory from feature films, television series, and library content under the Lionsgate and Starz brands.
It will also work with the studio’s theatrical distribution partners on Lionsgate films and it will partner with local production companies to develop intellectual property for theatrical release as well as distribution across other media platforms.
“Lionsgate India will also explore investment opportunities throughout the Indian media market,” the company said.
According to Lionsgate, India has over 800 television channels, more than 30 over-the-top platforms, 8,500 theatrical exhibition screens and an evolving interactive game business.
“India is the next logical frontier for Lionsgate’s multiplatform content creation, marketing expertise and digital initiatives, and I’m incredibly excited at the opportunities that lie ahead,” Jain said.
