India's Yash Raj Films set to invest $67 million in streaming service

Top Indian production company Yash Raj Films is gearing up to launch its own streaming service in India with an initial investment of INR 5 billion ($67 million), reported Variety.

According to reports, the streaming platform will be titled YRF Entertainment, and will target India’s local streaming market as well as the Indian diaspora globally, posing competition to OTT platforms like ZEee5 and SonyLIV.

“Aditya Chopra wants to contribute towards raising the bar of digital content production in India. He wants to match global standards of vision and storytelling with stories that are rooted in India,” a source close to the matter told Variety.

Aditya Chopra, the son of YRF founder Yash Chopra, is the current chairman and MD of the company.

“These scripts are being homegrown in YRF as we speak. This could be the moment that reshapes the OTT space forever. YRF has huge plans and they will roll out their strategy soon. Wait for some of the biggest announcements ever seen in the digital content space,” the source added.

YRF has declined to comment on the matter.