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    Pathaan set to power YRF's FY23 revenues

    Synopsis

    "FY23 will be bigger than FY22 and FY20 in terms of revenue," YRF CEO Akshaye Widhani told ET. He added that the revenue growth will be driven by Pathaan, as the production house’s previous three releases had underperformed. Pathaan has collected Rs 1047 in gross box office collections globally.

    PAthaan
    Yash Raj Films (YRF) is expected to exceed its revenue from FY2021–22 and FY2019–20 in FY 2022-23, driven by the superlative success of Pathaan, even as movies like Jayeshbhai Jordaar, Samrat Prithviraj, and Shamshera underperformed, according to a top official who spoke to ET.

    "FY23 will be bigger than FY22 and FY20 in terms of revenue," YRF CEO Akshaye Widhani told ET. He added that the revenue growth will be driven by Pathaan, as the production house’s previous three releases had underperformed. Pathaan has collected Rs 1047 in gross box office collections globally.

    In FY 2021-22, the company posted a net profit of Rs 115 crore on operating income of Rs 614 crore, according to an Acuite Ratings report. The production house recorded a net profit of Rs 61 crore on revenues of Rs 614 crore in FY2019–20.

    He further stated that FY22 was also an anomaly for the company since a sizable amount of revenue accrued from catalogue and licensing deals.

    "All our revenue comes from new films and catalogue films. We have close to 80 films in our library. We are slowly going to amp up OTT content production, which will become a key contributor," he stated.

    Widhani said one of YRF’s key priorities going forward is to expand the theatrical reach of its films. Pathaan was released on 8,000 screens in more than 100 countries globally. In 2023, the company has two more releases lined up, including a Vicky Kaushal starrer and the Salman Khan starrer Tiger 3, which is slated to release during Diwali.

    "We want to widen our theatrical reach and get more footfalls into the theatres. This is one of the key initiatives that we are working on," he stated.

    Widhani stated that the company would like to retain the intellectual property rights to the OTT shows that it will produce, just as it does with films. "We would like to retain the IP rights to all our future films and shows. Eventually, you will be as valuable as your content," he said, noting that streaming platforms also want to own the IP.

    In the film business, the Spy Universe will continue to be a big focus area for the company since all the films under this IP have done well. "All the films in this IP, whether it is Ek Tha Tiger, Tiger Zinda Hai, War, or now Pathaan, have done well. It has become a precious IP for us. It has become India's biggest franchise," the YRF CEO said.

    The studio is in the process of firming up its film slate for the next two years. "We are planning our content slate for the next two years. We have never bound ourselves to a certain number of films that we will produce. It is not a number's game," he said.


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