Shah Rukh Khan and Deepika Padukone starrer "Chennai Express" has already become a blockbuster film even before it hit the screens worldwide.
According to reports, the satellite rights of Rohit Shetty's directorial action comedy has been sold for ₹48 crore. It was also reported that the satellite rights amount would go up more if "Chennai Express" crosses the ₹100 crore mark.
Satellite rights contribute to 30-35 percent of the film's revenue, depending on the production cost.
Upcoming channel End Films, owned by Zee group, has brought the satellite rights of SRK-Deepika starrer. This is the first time satellite rights have been sold with a pre-condition, depending on the film's collection at the box office.
"I think it's a win-win situation for both the producers and the channel. The new channel will telecast a lot many movies in due course. We plan to have a library of at least 10 films to begin with," Jayantilal Gada, CMD of Pen India, the agency that acquires satellite rights for End Films said, according to The Times of India.
"Chennai Express" was reportedly made on a budget of approximately ₹90 crore. And after the satellite rights deal it seems that the film has earned the production cost even before the release.
Last year, there were reports suggesting that the film has been sold for a whopping ₹105 crore. Siddharth Kapur, the co-producer of the film, declined to comment about the huge amount.
But a reliable trade source told TOI that, "Shah Rukh and a film corporation are partnering on this one. Chances are that they will only sell the satellite, home video and music rights and actually keep the overseas and Indian theatrical rights with themselves."
When TOI asked the source about the "₹105 crore" deal in question, the source replied saying, "As in all industry deals, there are heels within wheels. The exact nature of the transaction will be out sooner or later."