Bobby Bedi-promoted entertainment company Kaleidoscope has announced a strategic partnership with ABP. The partnership will capitalise on both companies’ strengths to create original content across media by producing high quality content for filmed entertainment, TV, mobile and the Internet.
ABP will pump in Rs 20 crore to kickstart Kaleidoscope’s foray into new media, primarily focused at TV and mobile content development. A rapid scale up of operations is envisaged to establish a broad and deep presence as a provider of premium content for this space. With this, Kaleidoscope becomes India’s first full-capability entertainment content supplier.
“The paradigm of entertainment today has evolved beyond conventional definitions. The new media and digital content segment is growing in excess of 50 per cent annually, and we envisage an acceleration driven by the ever widening consumer base for technology products. This is, therefore, a natural progression for an entertainment company like Kaleidoscope,” said Bobby Bedi, MD, Kaleidoscope Entertainment Pvt Ltd (KEPL).
“Kaleidoscope is privileged to join hands with the ABP Group, a blue chip media house in India, to leverage the best resources and expertise of both companies, offering rapid access to the fast growing entertainment industry while also enabling us to quickly gear up to create and supply the mushrooming demand for technology driven entertainment content, ” he further said.
Dr Pramath Raj Sinha, MD & CEO of ABP Pvt Ltd, said, “A conglomeration of Kaleidoscope and the ABP Group, this enterprise is a win-win partnership for both the companies. This marks our foray into entertainment and with a lot of exciting activities in the pipeline, we anticipate creating a large-scale and value-creating venture with KEPL.”
KEPL is India’s first production house to follow an international approach in filmmaking and is an internationally recognised film and television production house with critically acclaimed films like ‘Bandit Queen’, ‘Saathiya’, ‘Maqbool’ and ‘Mangal Pandey - The Rising’ to its credit.