Adlabs, MTV to produce 3 films

NEW DELHI: Anil Dhirubhai Ambani Group-owned Adlabs Films has entered into a co-production deal with Viacom���s MTV Networks for making youth-centric movies. Targeted at the 15-34 age group, this will mark MTV Networks entry into Bollywood films. Adlabs will co-produce these movies with MTV���s film division known for its whacky content ��� ���MTV Fully Faltoo Films���.

Industry sources believe that the business model will be similar to what Adlabs has been following by backing movies of directors like Vipul Shah and Ram Gopal Varma among others with a revenue-sharing component.

Under the agreement, the companies are looking at making three movies with a budget of Rs 3-4 crore. The format of the movie is likely to be shorter than the regular three-hour movie flick. While Adlabs will distribute and exhibit the movie, MTV will be having the satellite and cable telecast rights.

When ET contacted Adlabs Films director Puja Shetty confirmed that Adlabs has entered into a co-production agreement with MTV.��� These movies will be specifically targeted at the youth creating a new genre altogether. The movies are at the conceptual stage as of now and we are still working on the cast and other modalities of these movies,��� she said.

The companies will be actively using the properties for brand tie-ups and in-film brand placements. All the products are expected to be finished in the next 1-2 years.

In the past, MTV Fully Faltoo had made a spoof on Dhoom called Ghoom which was exhibited in some metro cities on the big screen. Globally, MTV Films, the motion production arm of the channel MTV, has made over 40 films.

The movies are mostly based on the channel���s programmes like Jackass and Beavis and Butt-head Do America On the other hand, production house Adlabs has signed co-production deals with Ramgopal Varma, Vipul Shah , Ramesh Sippy and Prakash Jha. In 2007,

Adlabs will be releasing Vipul Shah���s Salam London , Ramgopal Varma���s Sholay. Adlabs is also co-producing Marigold with Hyperion Pictures which is slated to be released in August 2006. and had signed a co-production deal with Ashok Amritraj���s Hyde Park Entertainment.