Entertainment giant Lionsgate has beefed up its new office in India by hiring Rohit Jain, previously the deputy CEO of Videocon d2h.
“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 Jon Feltheimer, Lionsgate’s Chief Executive Officer.
“Lionsgate brings to this territory a global content platform, an entrepreneurial mind set, 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.”
The new office in India will take charge of licensing to local digital and linear platforms in formats including TV series, feature films, library content under the brands of Starz and Lionsgate.
Lionsgate India is to work with theatrical distribution partners to enhance box office for films and partner local production companies to develop intellectual propety.
There are also plans to investigate further investment opportunities in the Indian media market.
Lionsgate eyes India
“I’m thrilled to join Jon and the rest of the Lionsgate team as we continue to build the Company’s brand in India,” said Rohit Jain. “India is the next logical frontier for multiplatform content creation, marketing expertise and digital initiatives, and I’m incredibly excited at the opportunities that lie ahead.”
During his tenure at Videocon d2h, Jain spearheaded the start-up to become a major player in the industry, with over $1 billion in annual revenues.
Lionsgate is actively courting the Indian market. The company has recently tripled its revenue in India with a number of targeted products. These include the Hindi-language film Brothers, which is a remake of Lionsgate’s Warrior. There are also plans for a Hindi-language remake of Red, the action comedy.
India is currently the world’s second biggest consumer population. The country has seen a double-digit annual growth across film, TV, interactive games and other digital platforms. There are more than 800 TV channels, 8,500 exhibition screens and a burgeoning interactive games market.