Primeshow, the banner that bought the overall distribution rights for the film "Double iSmart," is reportedly set to lose almost Rs 40 crore, according to an inside source.
It is said that many well-wishers warned the owner of the company not to invest such a huge amount in the film, but despite these warnings, he went ahead and invested, ultimately suffering a significant loss.
They cautioned him that Puri Jagannath is unpredictable and not a safe bet at such a high price. However, he still decided to invest a total of Rs 49 Cr, claiming that he had watched one and half hour of the movie and liked it immensely.
The highlight is that Primeshow initially paid Rs 9 crore as an advance. When bookings opened on August 13 and despite no significant response from audience, Primeshow remained optimistic and paid the balance amount of Rs 40 Cr for the rights on August 14.
As a result, the company is now poised to lose a staggering Rs 40 crore. In essence, the money earned through "HanuMan" earlier this year has been lost on this venture.
Industry circles are saying that what Primeshow earned in January 2024 with "HanuMan" was lost by August 2024. Thus this banner has seen the profit and loss in the same year.
Now, there is a rumor that the Primeshow owner is asking Puri Jagannath to somehow compensate for the loss. Though Puri is not legally obligated, it is expected on the grounds of their relationship.
It seems that some land or other real estate property is being expected in compensation. However, Puri Jagannath reportedly suggested them to get a hero, and he would make a film for them.
But the million-dollar question is, which hero will come forward? Even if someone does, it would only add to the financial tensions and problems of Primeshow and not necessarily provide a solution.
