EXCLUSIVE: Shah Rukh Khan’s King Seals Major Overseas Distribution Deal with Phars Films

The overseas distribution plans for Shah Rukh Khan’s King have undergone a major change. While Yash Raj Films was initially expected to handle the film’s international release, Phars Films has now secured the overseas distribution rights in a landmark deal.

According to sources close to Phars Films, the company has paid a massive minimum guarantee (MG) of Rs. 175 crore for the rights. This is reportedly an unprecedented figure for an Indian film, with no previous title fetching an overseas MG of even Rs. 100 crore. With King, that benchmark has been surpassed by a considerable margin.

Most Bollywood distribution deals in recent years have been structured on a commission basis, wherein distributors charge a fee without offering any minimum guarantee or financial assurance. Yash Raj Films previously followed this model while distributing Jawan and Dunki internationally, and was expected to do the same for King. However, Phars Films reportedly made an offer that was too lucrative to turn down.

Apart from Ramayana, King is being positioned as one of the biggest Bollywood productions ever made. The substantial overseas deal is expected to support the film’s financial recovery while reducing some of the production-side risk.

Phars Films is likely to follow its established distribution model by selling individual territories to sub-distributors while directly managing the Middle East market, where the company is based. Several territory distributors are expected to remain unchanged from the original YRF distribution plan. However, the biggest shifts are likely in North America, the United Kingdom, and the Middle East, where YRF traditionally operates through its own offices.

To recover its sizeable investment, King will reportedly need to generate overseas box office earnings in the range of Jawan and Pathaan, which collected approximately USD 48 million. Since Phars Films is expected to sell certain territories at a premium, the effective recovery target could rise to nearly USD 50 million.

Achieving that figure, however, will be a challenging task. King is scheduled to compete for screens during the lucrative Christmas and New Year period, when major Hollywood releases such as Avengers: Doomsday, Dune: Part Three, and Jumanji 3 are also expected to vie for audience attention. The competition for overseas showcases could therefore play a crucial role in determining the film’s box office performance.