Ajay Devgn’s Chauhaan has thrown up a rare and unusually detailed look at how a major studio structures its ownership of a big Hindi film, well before the movie has even gone on floors.
The development came through a public notice issued by Reliance Industries Limited in the August 22 issue of Complete Cinema magazine, confirming that its media arm Jio Studios is finalising a production agreement with Aanand L Rai’s Colour Yellow Media Entertainment for the project.
What the deal actually gives Jio Studios
Most rights stories in this industry surface as a single headline number, like an OTT deal worth so many crores. This notice is different. It lays out the ownership split in unusual detail.
As per the notice, Jio Studios will acquire 50% of the intellectual property rights and 50% of the derivative rights of Chauhaan, covering all languages and territories, worldwide and in perpetuity.
More significantly, the studio is set to hold 100% of the exploitation rights across every platform, medium and format, existing or yet to be invented. It will also own 100% of the music rights worldwide, along with the right of first offer on any future audio-visual spin-offs based on the film.
Why the structure matters more than a headline number
Compare this with how rights deals are usually reported. When Jailer 2’s OTT rights were valued at around Rs. 160 crore earlier this month, the story began and ended with that one figure, a licence fee for a limited window of use.
The Chauhaan structure is a different kind of arrangement altogether. Jio Studios is not simply buying a usage window. It is buying permanent, worldwide exploitation control and full music ownership, while splitting the underlying IP itself with Colour Yellow.
For a producer, that kind of deal usually means a smaller share of long-term upside in exchange for reduced financial risk upfront, since a studio taking on 100% exploitation rights is also likely absorbing much of the marketing and distribution cost across formats.
For Ajay Devgn, who stars in the film, and for Aanand L Rai, who serves as creative director, this points to a production model increasingly favoured by corporate studios: buy deep, permanent rights rather than pay a one-time licence fee.
Chauhaan will be written and directed by Neeraj Yadav, with Vikrant Massey recently confirmed to play a grey character in the film. Reliance has invited objections or competing claims over the arrangement within seven days of the notice, standard procedure before such agreements are finalised.
