New Delhi, Dec. 10 -- Makers of hit TV and web shows are now looking to adapt them into full-length films, aiming to cash in on their established fan bases and brand value.

Popular TV show Bhabi Ji Ghar Par Hain, for instance, is preparing for a theatrical outing, while streaming series Mirzapur, too, is being adapted into a film. The motive behind such spin-offs, entertainment industry experts say, is to play safe and bring familiar characters to the cinemas at a time when few films are working. While most movies have failed to set the box office on fire in recent times, producers are betting on established IPs (intellectual properties) to bring audiences back to the theatres.

The strategy, though, comes with its own risks. Taking ever...