In a significant move within the Indian entertainment industry, Karan Johar has addressed the partnership between his production house, Dharma Productions, and Adar Poonawalla's Serene Productions, which involves an investment of ₹1,000 crore. This collaboration, which resulted in Serene Productions acquiring a 50% stake in Dharma Productions, has been a topic of considerable discussion and speculation.
Johar explained that the decision to bring Poonawalla on board stemmed from a need to scale up Dharma Productions and capitalize on the evolving landscape of the entertainment industry. He noted that organic growth would have been a slower process, estimating it could have taken another 5-7 years to achieve the desired level of expansion. "In 2023, we realised we had to scale," Johar stated, emphasizing the importance of leveraging the company's potential. The infusion of capital from Serene Productions was seen as a crucial step in accelerating this growth.
Johar also addressed the evolution of Dharma Productions, acknowledging that while his father, Yash Johar, founded the company, its success truly began after the release of "Kuch Kuch Hota Hai" in 1998. He mentioned that before his directorial debut, the production house had faced a string of unsuccessful films. According to Johar, he "inherited goodwill from his father but no money". He highlighted that the emotional and reputational legacy of his father fueled his journey, rather than a financial head start.
The filmmaker also reflected on the earlier collaborative model of filmmaking at Dharma, revealing that profits were often shared with partners. He expressed a desire to move away from such partnerships to ensure that Dharma Productions could retain a larger share of the profits generated from its films.
Regarding his partnership with Poonawalla, Johar described him as "a wonderful human being with sharp instincts". He also admitted feeling a sense of accountability, recognizing that he is now responsible for someone else's investment and must ensure the company's profitability. "Now I feel accountable—this is someone else's money. I have to deliver success,” he asserted. Poonawalla echoed this sentiment, expressing his delight in partnering with "one of the most iconic production houses in our nation".
The deal aims to leverage Poonawalla's financial strength to expand Dharma's content on global platforms. The collaboration intends to transform content creation, distribution, and audience engagement by integrating advanced technologies and pioneering production methods. A company statement indicated that the strategic partnership between Serene Productions and Dharma is designed to capitalize on the opportunities presented by the significant expansion of India's entertainment industry, driven by surging digital penetration and a diverse audience seeking high-quality content across multiple platforms, with growing global relevance.
Karan Johar remains the Executive Chairman, spearheading the company's creative vision, while Apoorva Mehta continues as CEO, steering the strategic direction and overseeing the organization's operational excellence. Johar has an exciting slate of projects lined up for 2025, including "Dhadak 2" and an untitled period legal drama featuring Akshay Kumar, R Madhavan, and Ananya Panday.
Johar also addressed criticisms about Dharma's profitability in 2024, defending his films and highlighting that "Kill" was critically appreciated, "Mr & Mrs Mahi" was profitable, "Bad Newz" was also profitable, and "Jigra" broke even. He also mentioned their first Punjabi film, "Akaal," and the upcoming "Dhadak 2," expressing his bullish outlook for the company's future.
In addition to the partnership with Poonawalla, Dharma Productions is also venturing into film distribution, a move that aligns with Johar's vision of scaling Dharma into a multi-faceted powerhouse that seamlessly integrates cinema, streaming, and global content. Bhumika Tewari has been appointed to lead this new division.
