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: print. Even songs are treated as a key weapon in a movie’s marketing arsenal.
And the marketing activities are no longer limited to hoardings, print ads and music channel placements. Studios are pumping in crores on pre-launch marketing initiatives and following them up with ongoing razzmatazz. Ad agencies have also been quick to cash in on the trend. Leo Burnett was among the first to set up a separate division, Leo Entertainment, as far back as in 2001.
With Bollywood grossing well overseas, collections too are steadily growing. According to a PwC-Ficci report, in 2007, overseas collections were estimated at Rs 850 crore, up from Rs 700 crore in 2006. With opportunities galore, the film industry is also making content so that can be put into different mediums, says Farokh Balsara, partner and director, advisory services, technology, communications and entertainment, Ernst & Young.
Bollywood is also adapting other growth strategies from the West. In 2006-07, 90% of Hollywood’s revenues came from franchises. Think Spiderman, which is already in its third part, or Harry Potter. At Percept Picture Company, a plan has been put in place so that by 2010 60-70% of its revenues come from old films, sequels, prequels and animations.
“We must build brands,” says Naveen Shah, CEO, Percept Picture Company. “The success of the Munnabhai and Hanuman series and Golmaal Returns should encourage Bollywood to think about building a franchise out of a product,” says an analyst....
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