New studios from Birla and Balaji invest in India’s crowded content space amid volatility and risk of unsold content

Entrepreneur Ananya Birla launched Birla Studios this month to produce films in Hindi, Gujarati and Malayalam, among other regional languages, and in English. The Collective Artists Network, which was engaged in brand management and digital projects so far, is eyeing feature films. Balaji Telefilms Ltd unveiled Balaji Studio, designed as a content engine for India’s TV and digital era.

Experts said returns from the film business remain a big draw and recent successes likeDhurandhar prove a massive upside is available if the film finds a connection with the audience. Further, diversification attempts by entrenched players helps them invest in patiently building intellectual property (IP) with long-term value rather than look for quick returns.

According to Sanjay Dwivedi, group CEO and chief financial officer of Balaji Telefilms, even though the content ecosystem appears crowded, demand for compelling, differentiated storytelling remains strong.

“The real challenge today is not excess content, but excess undifferentiated content,” Dwivedi said. “Well-defined content verticals allow companies to operate with sharper creative focus, better capital discipline and clearer market positioning. For established players like us, these verticals are built on years of audience insight, distribution relationships, and execution capability, which significantly improve the probability of greenlighting the right projects.”

When content creation is anchored in strong IP development and aligned to platform needs, it continues to make sound business sense despite broader market volatility, Dwivedi added.

Vijay Subramaniam, founder and group CEO of the Collective Artists Network, said the company has multiple businesses – talent management, brand partnerships, digital ecosystems, and now, IP and content.

Focus on value

“So, we’re naturally hedged against risk. That being said, yes, there’s clutter in the market and unsold inventory. But when you’re diversified, you can afford to be patient. You can focus on building IP with long-term value instead of chasing quick exits,” Subramaniam added.

The company is building across formats with clarity of intent, he pointed out. Theatrical films offer scale, spectacle and cultural moment-making. When a story demands that level of immersion, the big screen is unmatched.

Serials, on the other hand, whether for television or streaming or even micro-dramas, allow depth. They give you time to explore character, nuance and layered storytelling in ways films sometimes cannot.

“Our approach is format-agnostic but IP-focused, where the story determines the platform, not the other way around,” he said.

The fact that these recent attempts come from companies well-versed in the business gives the industry hope. Rahul Puri, managing director of Mukta Arts and Mukta A2 Cinemas, said from an exhibitor’s point of view, this means more supply and choice of content.

“People are constantly searching for content and, more importantly, distribution efforts by such companies can possibly create enough momentum even for small and mid-budget films to be positioned in the minds of the audience,” Puri emphasized.

That said, challenges remain. Film producer Anand Pandit pointed out that what’s needed is financial discipline.

“Budget tightening, successful monetization, strategic greenlighting and lots of resilience and passion will be needed to go on in the face of teething troubles. Unsold inventory will be a dampener as well and will impact cash flow if not managed carefully. And because audience fatigue is real amid overflowing content, the real work will have to unfold before a project goes on the floors,” Pandit said.

There is also the risk of creative compromise, where decisions are driven by short-term platform demand rather than originality and storytelling strength. Another challenge is navigating different monetization models – box office, licensing, subscriptions and advertising – each of which requires a different mindset and execution strategy.

“To succeed, content creators will have to balance creativity with financial prudence, invest in strong writing and stay deeply connected to audience behaviour. Those who do that will not just survive the clutter, they will define the next phase of growth,” Pandit said.