Film producers get one more avenue to generate revenue
Brand Exchange’s first-of-its-kind initiative aims to cut production cost of costumes used in movies with win-win solution for producers, brands and costumers
Leading producers from South Indian film industry took part in the Media Tech Summit hosted by Brand Exchange (www.brandxchange.media) at GRT Grand, Chennai, on Saturday evening.
A panel discussion on the topic ‘Futuristic Media Tech’ was held as part of the event during which how transforming technology, revenue development and innovative entrepreneurship are changing the new-age film industry was discussed.
Founded by Sivakumar R, a professional with over two decades of experience with great track record in business planning and revenue identification among other areas, Brand Exchange is a new-age platform that aims to connect producers with leading brands to generate revenue from the costumes used in the movies.
A significant amount of a film’s budget is spent on costumes. It is said that almost close to a maximum of 10 per cent of the overall budget is spent on the dresses of the actors.
There is no income from the money spent on the costumes and it is only seen as an expense in the film industry. However, Brand Exchange aims to change this scenario with the help of technology.
The platform aims to create revenue through this initiative. The costumes used by the major star cast will be pitched to the leading brands. Dresses used by actors in a particular movie will be available with these brands from where people can buy them.
The valuation assigned by the brands for these costumes will create an income to the producers.
Brandxchange founder and CEO Sivakumar R said this initiative will be a big boon to the producers. “Producers are investing a huge amount in costumes while making a film. The major work of Brand Exchange platform is to connect leading dress brands to producers. Brands, producers and costume designers will be benefitted through this initiative. The brand will sponsor the costumes of the actors, thus creating a revenue for the producer. Costumes which were once seen an expense will now become a revenue generating option. This will also make the movies colourful and create a transparent revenue mechanism. The costume designer will have a virtual market since this will act as a platform for their creativity.”
The event was organised by Brand Exchange in association with ProducerBazaar.com and Better Invest.
G K Tirunavukarasu, Co-Founder, ProducerBazaar.com, said, “This initiative by Brand Exchange has all the potential to become a game changer in cinema industry. A significant amount of money that is being spent on costumes can be cut down with the help of this platform.”
Pradeep Somu, Founder and CEO of BetterInvest.club, said, “With leading brands coming into the picture, the quality of costumes is expected to improve more giving additional advantage to the movie watching experience. This initiative will also come as an opportunity to producers as they do not have to shell out more on the costumes.”