Hindi
Bhootnath Returns…….Ghost Samaritan
MUMBAI: It has become a trend for a film to end with a threat of a sequel. Good or bad or outright disastrous, most films leave open the possibility. That is like hoping to build a high rise on a weak foundation since most of these films promising sequels are flops. In that event, what led to the sequel to Bhootnath which was rejected in cinemas though it did better on TV and DVD circuits? Whatever the inspiration, here goes:
Bhootnath, Amitabh Bachchan, has been referred back to ghost land like a bounced cheque since he has failed to scare people on his first outing with earthlings. Ghosts laugh at him because of his failure to scare humans. Amitabh has eons before he can return to earth as a human and he feels belittled at this treatment by fellow ghosts. He asks the boss of ghost land to give him one more chance to go back and successfully scare people. After all, scaring living beings is what ghosts are supposed to do!I know as much about ghosts as ghosts know about me but this is what the film professes.
Back on earth, Amitabh uses his ghostly powers to scare some kids playing cricket in a deserted place. The kids are not the kind to believe in ghosts, let alone be scared of one. He comes across a kid, Parth Bhalerao, who can see him and is not scared of him since he does not believe Amitabh to be a ghost; the kid is street smart. A street smart kid led to Amitabh’s failure on his last trip on earth but, this time, the kid and the ghost both decide to use each others’ strengths.
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Direction: Nitesh Tiwari. Cast: Amitabh Bachchan, Parth Bhalerao, Boman Irani, Usha Jadhav, Sanjay Mishra, Brijendra Kala, Usha Nadkarni. |
Producers: Bhushan Kumar, Krishan Chopra, Renu Ravi Chopra.
It seems the area where Partho lives, Dharavi, is the most neglected and deprived in Mumbai. Bhootnath decides to make his return to the earth at Dharavi, his bad luck! Soon Parth teaches the ghost the game of using each other. While Parth uses Amitabh to first help scare the convent school gang of cricket players and get into their league, Amitabh, in return, earns secrecy about his being and the fact that he is not all that scary a ghost. With a little help from Parth, Amitabh becomes a good neighbourly ghost helping people get their due justice. It is all fun so far but it is also time to introduce the villain.
Boman Irani is an ex-local goon turned politician and has been ruling the area assembly seat for the last three terms. His is a reign of terror, corruption and exploitation. His voters abhor him but also vote for him. Nobody would contest an election against him and, finally, it is left to Amitabh to do it. The law is silent on weather a dead man can contest an election and his lawyer, Sanjay Mishra, asserts as such. So, it is an electoral fight between Amitabh and Boman. This is where the film loses its purpose and direction and, mainly, its target audience: the kids it is aimed at.
The film entertains with its witty one liners delivered by Parth but, once the election issue is introduced, it becomes another film altogether. The light moments vanish and moralising lectures take their place, which is boring. On that count, the script loses its purpose. Direction is fair with quite a few liberties taken. There is no scope for songs except for sermonising kinds. Cinematography is good. Dialogue is well penned. The film has sourced a few of its actors from Marathi films. Parth is impressive. Usha Jadhav as his mother is very good. Amitabh Bachchan is his usual self, one who does not have to act to convey his part. Boman Irani goes a bit overboard at times. Sanjay Mishra and Brijendra Kala are good as always. Shah Rukh Khan and Ranbir Kapoor make brief cameos to no effect.
On the whole, the problem with Bhootnath Returns is that it turns out to be a children’s film with an adult theme coming as it does in the multiplex era where waiting for a DVD works out more economical than sending kids to cinema halls (as has been proved by the performance of Bhootnath on this count).
Hindi
GUEST COLUMN: Why film libraries & IPs are the new engines of growth
Unlocking value through catalogue strength and IP synergy
MUMBAI:In a media landscape defined by fragmentation, platform proliferation, and ever-evolving audience behavior, the economics of filmmaking are undergoing a fundamental shift. No longer confined to box office performance, a film’s true value is now measured across an extended lifecycle that spans digital platforms, syndication networks, and global markets. As content consumption becomes increasingly non-linear and algorithm-driven, film libraries and intellectual properties (IPs) are emerging as strategic assets, capable of delivering sustained, long-term returns. For Mohan Gopinath, head – bollywood business at Shemaroo Entertainment Ltd., this transformation signals a decisive move from hit-driven models to portfolio-led value creation. In this piece, Gopinath explores how legacy content, when intelligently repurposed and distributed, can unlock recurring revenue streams, why the interplay between catalogue and original IP is critical, and how media companies can build resilient, future-ready entertainment businesses.
For all these years, we thought that a film is successful if it performs well in theatres. There are opening weekend numbers, box office milestones, and distribution footprints that gave a good picture of how the movie has done commercially and also tell us about its cultural impact. However, there are multiple platforms today, always-on content ecosystem, which has caused a shift. Today, the theatrical performance is not the culmination of a film’s journey but merely the beginning of a much longer and more dynamic lifecycle.
Film libraries today are emerging as high-value, constantly evolving assets that deliver sustained returns well beyond initial release cycles. This becomes a point of great advantage for legacy content owners with diverse catalogues, to shape long-term business outcomes.
According to FICCI-EY, the media and entertainment industry of India achieved a valuation of Rs 2.78 trillion in 2025 which is expected to reach Rs 3.3 trillion by 2028 through a compound annual growth rate of approximately 7 per cent and digital media will bring in more than Rs 1 trillion to become the biggest sector which generates about 36 per cent of overall market revenues.
This shift is the expansion of distribution endpoints. We know how satellite television was once the primary secondary window but today, it coexists with YouTube, OTT platforms, Connected TV, and FAST channels. Each of these platforms caters to distinct audience demographics and consumption behaviors, helping content owners to obtain more value from the same asset across multiple formats.
For instance, films that had great reruns, now find continuous engagement across digital platforms. On YouTube, classic Hindi cinema continues to attract significant viewership, reaching audiences across generations and geographies with remarkable consistency. At Shemaroo Entertainment, this is reflected in our film library shaped over decades as part of a long association with Indian entertainment. From classics such as Amar Akbar Anthony to much-loved entertainers like Jab We Met, Welcome, Dhamaal, Phir Hera Pheri, Dhol, Golmaal, and Bhagam Bhag, many of these titles continue finding new audiences while retaining their place in popular memory. Their enduring appeal reflects how culturally resonant stories can continue creating value over time. Similarly, FAST channels have created curated, always-on environments where catalogue content can continue to thrive through star-led and genre-based programming.
This multi-platform approach has very well transformed films into long-tail IP assets which are capable of generating recurring revenue across advertising, subscription, and syndication models.
The evolution of audience behavior is equally important. Nowadays, it’s more important to find what’s more relative than what’s recent as viewers are more influenced by mood, memories, and algorithmic suggestions than by release schedules. Even if a movie was released decades ago, it can trend alongside a newly released movie, if surfaced in the right context. Thoughtful packaging, whether through festival-based playlists, actor-driven collections, or genre clusters, allows catalogue content to remain dynamic and continuously discoverable. Shemaroo Entertainment has built extensive film libraries over decades and its focus has mostly been on recontextualizing content for the consumption of newer environments. This process doesn’t just include digitization and restoration, but also re-packaging of films as per platforms.
Syndication itself has evolved into a key growth driver. In perspective, when looking at the domestic market, curated content packages continue to find strong demand across broadcast and digital platforms. Meanwhile, in the international market, especially in markets like Middle East, North America and Southeast Asia, the appetite for Indian content is opening up new monetization avenues. Here, the ability to package and position catalogue content effectively becomes as important as the content itself.
Importantly, the need to re-package catalogue content does not diminish the role of new content. In fact, originals and fresh IP are essential to sustaining the long-term value of a film library because they act as discovery engines that bring audiences into the ecosystem, while catalogue content drives depth, retention, and repeat engagement.
This interplay between the “new” and the “known” is what defines a robust content strategy today. While new films generate spikes in consumption, catalogue titles offer familiarity and comfort. These are factors that are increasingly valuable in an era of content abundance and decision fatigue. This is also shaping our strategy, drawing value from both a deep catalogue assets and a growing focus on original IPs to strengthen long-term audience engagement and build more predictable revenue streams.
There is growing recognition that long-term value in entertainment will be shaped not only by how intelligently existing content continues to live, travel and find relevance, but also by how consistently new stories are created to renew that ecosystem. In that sense, film libraries and original IP are not parallel bets, but reinforcing engines of growth. For media companies, the opportunity lies in making these two forces work together, because that is increasingly where more resilient and predictable businesses are being shaped.
Note: The views expressed in this article are solely the author’s and do not necessarily reflect our own.
