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of new media rights, though still a bit stiff, are unarguably emerging. Countries in mainland and Eastern Europe are beginning to dabble with Indian productions and yield incremental revenues. All in all, we’re living in very exciting times and I can only say that I wake up to a new challenge every morning.”
As Mishra of UFO Moviez puts it, “Corporatisation is not a destination, it’s an evolving journey and Bollywood is on its way. With professionals foraying into the business, corporatisation is not an option but need of the hour.”
Non box-office is also a hit
The non box-office market currently consists of home videos, Internet downloads, mobile content, satellite viewing and so forth in the country. If the film industry is currently pegged at around $2.9 billion, then the non box-office market has a share of 30% in it. Though India’s box-office numbers are large with 3 billion people going to movie halls every year, the emergence of various revenue streams beyond the traditional box office is changing the face of the Indian film industry, according to a recent PwC-FICCI report. This trend, says the report, is not only derisking the business of film-making but also making it attractive for corporates and Hollywood studios.
According to Siddharth Roy Kapur, director, UTV Motion Pictures, theatrical revenues, which comprise 50-60% of the business, will come down even as home video (currently at 5-7%), music (5-7%), satellite (15%), new media (5%) grow. Munish Purii, COO, Mirchi Movies, points out that going forward these platforms, “are going to grow at a rapid pace and monetising these platform streams will be very critical. With the shelf life of films reducing with each film, these platforms eventually will contribute more than 50% of the total revenues.” The PwC-FICCI report also lists several growth areas, including television rights, remake rights (the industry recently saw a slew of remakes including Don, Sholay and Umrao Jaan), movie merchandise and Internet rights. Says Shailendra Singh, joint MD, Percept Holdings, “We foresee excitement on character-based merchandise as well. There is a huge incremental revenue in Hanuman, which is good.” But if there is one negative that is pulling down revenues across streams, it is piracy, but that’s another story....
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