Pakistan to get its own ‘Shark Tank’

Countless challenges stand in show’s path

Bringing globally popular shows to Pakistan has been a mixed bag, with past ventures like MasterChef Pakistan and Pakistan Idol creating quite a buzz only to fizzle out after one season. Now, another major player is stepping into the ring: Shark Tank. Biz Asia Live reported earlier this year that Grenlit Studios has acquired the franchise, aiming to replicate its worldwide success in Pakistan.

Shark Tank is a renowned reality TV series where budding entrepreneurs pitch their business ideas to a panel of wealthy investors, aptly named “Sharks.” The show offers a shot at investment and a springboard for significant business growth. Originating in Japan in 2001 as Tigers of Money, the format has been adapted globally, including the UK’s Dragon’s Den in 2005 and the US Shark Tank in 2009. The show has aired in numerous countries, with its 50^th adaptation launching in Bangladesh in 2022. Sony Pictures Television handles its international distribution.

“We are thrilled to bring the monumental success and global appeal of Shark Tank to Pakistan,” said Usman Malik, Co-Founder and CEO of Grenlit Studios, in a statement to a local publication. “This collaboration with Sony Pictures Television not only marks a significant milestone for Grenlit Studios but also underlines our commitment to fostering innovation and entrepreneurship within Pakistan.”

But is investing that much money in a franchise show-wise when television is competing with digital platforms? This question looms large. Localisation of content is crucial, warned producer Hamza Ansari. “If the show is not modified and adapted for the local consumers’ viewing palate, it won’t get ratings, resulting in advertisements drying up and the show getting canned,” said Ansari to a local publication.

Another challenge is the scarcity of professionals who can execute such a show flawlessly. “Getting an international franchise isn’t just about replicating the show, but following the brand guidelines to the T,” he added. “We only have a handful of such people who can do that.”

One of those rare talents is veteran producer Ahmer Khan, who spearheaded MasterChef Pakistan to multiple award nominations. Despite the show’s success and the winning participants’ subsequent culinary careers, it was shelved after just one season. Khan stated to a local publication that this was a mistake. “Such shows need to do at least three seasons. That’s the global practice to get the ratings in,” he explained. “It has to be long-term instead of focusing on instant revenues.”

Initial hiccups included selecting the “Sharks”—the investors on the show. However, seven individuals have now been finalised for these roles. They include Rabeel Warraich of venture capital firm Sarmayacar; Junaid Iqbal, instrumental in Careem’s expansion in Pakistan; Aleena Nadim, featured in Forbes 30 under 30 Asia; and Romana Dada, who leads the Saudi Sovereign Wealth Fund in Pakistan, among others. With the Sharks in place, the team is now focused on finding compelling pitches for the investors and ensuring the process translates well on screen. The release date of the show is yet to be confirmed.

The success of Shark Tank Pakistan will hinge on these elements coming together seamlessly. If the show can adapt to local tastes and maintain high production standards, it might just have the staying power that eluded its predecessors.