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US film studio and distributor Twentieth Century Fox and the Star entertainment and media group on Tuesday announced a joint venture to produce Asian-language films for worldwide distribution.
The new organisation, to be called Fox Star Studios, will first work in India, with a view to expanding into China and southeast Asia, they said in a joint statement out of Mumbai, Hong Kong and Beverly Hills.
In India, the tie-up is part of a growing trend for corporatisation of the Indian film industry and a reflection of Bollywood's increasing appeal outside its traditional market to a wider audience, particularly the Indian diaspora.
Last year the Indian film industry made 1,146 films, according to the Federation of Indian Chambers of Commerce and Industry, which produces an annual report on the state of the entertainment sector.
The film industry was worth an estimated 2.1 billion dollars, it added.
No exact details were released about how many films would be made, but the companies said they were looking to combine their expertise in the home entertainment, digital media and distribution fields.
It would also help Hollywood films gain a wider audience in India, they said.
Star India chief executive Uday Shankar added: "This initiative... (will) create higher level skill sets in film production, marketing and distribution for the industry."
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