Mon Oct 21 06:20:31 UTC 2024: – Adar Poonawalla, CEO of Serum Institute of India, will acquire a 50% stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment for ₹1000 crore.
– The investment is made through Poonawalla’s Serene Productions, allowing Johar to maintain creative control as Executive Chairman.
– This collaboration is aimed at strengthening Dharma Productions’ ability to adapt to the evolving demands of digitally-savvy audiences and enhance content for new platforms and formats.
– Dharma Productions has been seeking investments and has held discussions with various large conglomerates.
– The production company reported a significant revenue increase to ₹1,040 crore in FY23, up from ₹276 crore the previous year; however, net profit fell 59% to ₹11 crore due to a sharp rise in expenses.
– Revenue sources in FY23 included ₹656 crore from distribution rights, ₹140 crore from digital channels, ₹83 crore from satellite rights, and ₹75 crore from music.

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