With the FICCI-KPMG Indian Media and Entertainment Report 2012 projecting that the Indian film industry will grow from Rs 8,300 crore in 2012 to Rs 13,200 crore by 2015, there is need for more studio space.
Right on cue, Akkineni Nagarjuna Rao, actor and managing director of Annapurna Studios, recently invested Rs 100 crore into five new, climate-controlled production floors. The post production facilities at the studios include state-of-the-art editing, dubbing, animation, computer graphics (CG), digital interface and sound mixing rooms.
Annapurna is not the first Indian studio to go digital. Yash Raj Studios and Reliance MediaWorks in Mumbai have already gone down this road and are reaping the benefits. But Annapurna is the only Southern studio apart from Ramoji Film City that’s taken this route.
Axis Bank, Andhra Bank and Indian Bank have funded Rs 75 crore, while the remainder has come from the Akkineni family.