Beats record set by Salman Khan, Varun Dhawan.
By Dileep Thekkethil
Hrithik Roshan has set a new record in Bollywood by inking a deal worth Rs. 550 crore – the highest amount paid for exclusive satellite rights ever, for his movies set to release in 2017, including his most awaited flick Kaabil.
According to Firstpost, Hrithik swept past the record set by Salman Khan, who had earlier inked a five-year deal with Star network for rights to all his films released between 2014 and 2019.
Even though the name of the channel that sealed the whooping satellite deal is not yet revealed, experts predict a lasting impact on the industry as there has been a steep decline in the rate of satellite rights since 2015.
A few months back, the seemingly new Bollywood actor Varun Dhawan also managed to close a deal for Rs. 300 crore for the satellite rights to his upcoming films in 2017.
Satellite rights agreement is signed between production houses and television channels prior to the release of films but in some cases, the deal is signed between the actor and the TV Networks.
In most cases, the money is handed over at the time of production and it serves as an indispensable financial aid to cover the cost of shooting. In other cases, producers count the amount as a part of gross earning after the movie releases in theaters.
According to the available data, Aamir Khan’s PK fetched Rs. 85 crore – the highest amount for satellite rights earned by a movie till now.
Now, the reports about the staggering amount – Rs 550 crore – is seen by many as an unreal figure. But, the past performances of Hrithik Roshan movies – Bang Bang, Agneepath, Zindagi Na Milegi Dobara and Krrish 3, had all made it to the 100-crore club.
But the tendency to heavily weigh on superstar movies has also adversely affected the channels that missed surprise hits like Tanu Weds Manu, Queen, and 2 States.