'Sholay' Studio Sippy Films Maps Character IP Rollout

Variety

by Naman Ramachandran

February 14, 2026

AI-Generated Deep Dive Summary

India’s Sippy Films is reviving its iconic film franchises like *Sholay* and *Shaan* through a multi-format strategy aimed at younger audiences. Backed by Kuberans Tech Ventures, the studio plans to expand these IPs across animation, microdramas, gaming, merchandising, and Web3 platforms. This approach draws inspiration from Western character IP models, such as Disney, and Japanese anime’s cross-platform success. By diversifying revenue streams beyond traditional box office earnings, Sippy Films aims to create long-term value for its legacy IPs. The strategy emphasizes films as the core driver of character IP but supplements them with additional touchpoints like merchandise, gaming, and stage plays. This model allows for constant fan engagement and sustained revenue generation. For instance, *Sholay*, a 1975 classic, could see new life through gaming adaptations or merchandising lines, appealing to both older fans and younger generations. Sippy Films’ approach reflects the evolving entertainment landscape, where content must adapt to multiple platforms and formats. The studio’s director highlights the importance of flexibility in content creation, from full-length films to shorter microdramas that can thrive on streaming platforms. This shift contrasts with traditional theatrical planning, which often prioritizes box office success over diverse digital strategies. The studio is also focusing on reimagining its IPs for future generations by developing origin stories and expanding character universes. These efforts aim to position *Sholay* and *Shaan* as enduring franchises with cross-generational appeal. By aligning with global trends in IP monetization, Sippy Films hopes to establish itself as a leader in India’s growing entertainment industry. This initiative matters because it signals a new era for Indian studios, where homegrown IPs can rival international blockbusters through strategic diversification and innovation. As the market evolves, Sippy Films’ approach could set a precedent for other studios looking to capitalize on character-driven content and adapt to changing audience preferences.

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Originally published on Variety on 2/14/2026