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SINGAPORE: Would you shell out a small fortune to buy 40 movies without having seen most of them?
Lim Teck would. The general manager of Singapore company InnoForm Media recently inked a deal with Thai production house Sahamongkolfilms International to acquire all rights to 40 titles.
The rights, valid for two years, cover distribution in Singapore for both theatrical and video releases. Sahamong-kolfilms is the brand name behind hits such as the Tony Jaa actioners, Ong Bak (2003) and Tom Yum Goong (2005).
This is the first such deal, said to be worth six figures in US dollars, between a local indie distributor and a foreign producer.
Apart from distributors such as Warner Bros, which typically markets all films made by their parent Hollywood studio, few distributors would dare to plonk money down on a package of films, especially since some of them are still in production or post-production.
Which is why InnoForm's investment has raised eyebrows in the industry.
In an interview with Today, Lim, 31, insisted there was sound marketing and mathematics behind the move.
"Yes, it's a danger that we haven't seen most of the films," Lim conceded. "But that's the nature of the film business."
Pointing out that Sahamongkolfilms has on its 2007 slate such potential winners as Ong Bak 2, he added: "With Sahamongkolfilm's track record, we're very confident. We hope to make at least 30 to 40 per cent of our investment as the rate of return.
"The reason why we can afford to buy all rights is that we have our video business," he said, letting on that the first few video titles should hit stores early next month. "So, even if we don't release a film on the big screen, we can release it on video and still make money."
While other distributors like Festive Films and Golden Village also pick up Thai films, they tend to do it on a piecemeal basis. InnoForm's approach, on the other hand, is to provide a one-stop solution for Thai film producers.
Last weekend's six-film Sawadee Film Festival is part of this overall push for Thai cinema.
But why Thai cinema?
The top three South Korean films so far this year, Lim said, were The Art of Seduction, Daisy and King and the Clown, which each earned about $150,000. Their takings pale in comparison to the top-grossing Thai film, Dorm, which pulled in a respectable $500,000.
Add to that list other Thai money-spinners such as Shutter ($1.2 million), Tom Yum Goong ($800,000) and Ong Bak ($600,000) and the decision looks like a no-brainer.
"Everyone talks about the Korean Wave but there are just too many Korean movies out there," Lim said.
"Thai movies are doing well, both the commercial and art house films," Lim said. "It seems the potential for Thai films is quite clear." - TODAY
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