Within the last twenty
to thirty years India’s entertainment industry has boomed.
Since the early nineties India’s television industry transformed from just a few government owned channels to broadcasting more than three hundred national and regional channels. And, the Indian film industry, better known as “Bollywood,” produces close to a thousand movies per year in various Indian languages. “Bollywood” almost triples Hollywood in terms of movie production (“Entertainment Industry in India,” n.d.).
The Indian television
industry has seen steady growth over the last few decades, and is continuing
this trend. “With the introduction of digital distribution platforms like direct-to-home and Mobile TV, the Indian television industry has undergone a revolutionary change. As per KPMG and FICCI reports, the Indian television industry is worth over four billion dollars and is estimated to grow by over fourteen percent by 2013” (“Entertainment Industry in India,” n.d.). The direct-to-home industry’s revenue has been doubling almost every year since 2008. Additionally, Doordarshan, the main television broadcaster in India, expects to be completely digitized by 2017. This will lead to TV channels like MTV, Cartoon Network, Disney, Star Plus and Pogo to grow their service market, further increasing revenue (“Entertainment Industry in India,” n.d.). Not to mention, even more of the Indian population being able to watch soap operas and cricket, the two most watched programs on TV in India today.
The Indian film
industry, however, has dipped in recent years; but it is now looking like it
could be back on the ascent.
“The billion dollar Indian movie industry that churns out twelve thousand movies a year, employs almost two million people, and has more than fourteen million theater viewers a day, is actually groaning under its own weight” (Jetley, 2011). Approximately only five percent of the movies that are released every year make a significant amount of money. Further, The Indian film industry’s revenue shrunk about five hundred million dollars from 2008 to 2010. One of the major reasons for this was the collapse of the home video industry. The high cost of DVD rights and the high frequency of piracy caused home video revenues to be nearly cut in half (Jetley, 2011). Another reason why the Indian film industry is in this mess is because of growing production costs driven in part by excessive fees paid to its stars. Actor’s salaries in Bollywood have doubled in the last three years, with stars like Shah Rukh Khan, Salman Khan, Saif Ali Khan and Aishwarya Rai commanding three to six million dollars per film. These production fees, which include the money paid to actors, directors and screenwriters, make up roughly forty to fifty percent of a film’s costs (Jetley, 2011). “Industry players are of the opinion that one way of fighting the combined onslaught of piracy, star fees and marketing costs is to consolidate…even though there are 1,200 films made every year you can count the number of large corporate production houses on your fingers, leaving plenty of room for further mergers and acquisitions [especially with large American film studios]” (Jetley, 2011). The Indian film industry really needs a new structure. The hope is that the American film studios influence will lead to more films having success at the box office, especially action-thrillers and comedies both containing aspects of musicals (films that feature song-and-dance numbers) since those two seem to be the most popular film genres in India today.
“The billion dollar Indian movie industry that churns out twelve thousand movies a year, employs almost two million people, and has more than fourteen million theater viewers a day, is actually groaning under its own weight” (Jetley, 2011). Approximately only five percent of the movies that are released every year make a significant amount of money. Further, The Indian film industry’s revenue shrunk about five hundred million dollars from 2008 to 2010. One of the major reasons for this was the collapse of the home video industry. The high cost of DVD rights and the high frequency of piracy caused home video revenues to be nearly cut in half (Jetley, 2011). Another reason why the Indian film industry is in this mess is because of growing production costs driven in part by excessive fees paid to its stars. Actor’s salaries in Bollywood have doubled in the last three years, with stars like Shah Rukh Khan, Salman Khan, Saif Ali Khan and Aishwarya Rai commanding three to six million dollars per film. These production fees, which include the money paid to actors, directors and screenwriters, make up roughly forty to fifty percent of a film’s costs (Jetley, 2011). “Industry players are of the opinion that one way of fighting the combined onslaught of piracy, star fees and marketing costs is to consolidate…even though there are 1,200 films made every year you can count the number of large corporate production houses on your fingers, leaving plenty of room for further mergers and acquisitions [especially with large American film studios]” (Jetley, 2011). The Indian film industry really needs a new structure. The hope is that the American film studios influence will lead to more films having success at the box office, especially action-thrillers and comedies both containing aspects of musicals (films that feature song-and-dance numbers) since those two seem to be the most popular film genres in India today.
With the American
film industry beginning to influence Bollywood, the Indian film industry looks
to make a comeback.
“The Indian film industry over the past few years has been receptive towards foreign investments. This has paved way for many international production firms to make their debut in “Bollywood” along with opening their offices in [India]” (“Entertainment Industry in India,” n.d.). “[India has the] world's largest film industry in terms of production volume and it is undergoing a massive international presence. Reliance ADA Group is signing a production pact with DreamWorks Studios, endorsed by Steven Spielberg to produce movies” (“Entertainment Industry in India,” n.d.). “[Just like the partnership of DreamWorks Studios and Reliance ADA Group], Yash Raj Films has signed a joint partnership with Walt Disney to produce animated films. Other [examples of American culture and its film industry influencing “Bollywood”] include: Sippys film projects being sponsored by Warner Group, Sanjay Leela Bansali Films collaboration with Sony Pictures Entertainment, and TV 18's association with Viacom to form Viacom-18” (“Entertainment Industry in India,” n.d.). These mergers should improve the structure of Bollywood, which in turn should lead to increased revenue. The potential for the Indian film industry to bounce back is high.
“The Indian film industry over the past few years has been receptive towards foreign investments. This has paved way for many international production firms to make their debut in “Bollywood” along with opening their offices in [India]” (“Entertainment Industry in India,” n.d.). “[India has the] world's largest film industry in terms of production volume and it is undergoing a massive international presence. Reliance ADA Group is signing a production pact with DreamWorks Studios, endorsed by Steven Spielberg to produce movies” (“Entertainment Industry in India,” n.d.). “[Just like the partnership of DreamWorks Studios and Reliance ADA Group], Yash Raj Films has signed a joint partnership with Walt Disney to produce animated films. Other [examples of American culture and its film industry influencing “Bollywood”] include: Sippys film projects being sponsored by Warner Group, Sanjay Leela Bansali Films collaboration with Sony Pictures Entertainment, and TV 18's association with Viacom to form Viacom-18” (“Entertainment Industry in India,” n.d.). These mergers should improve the structure of Bollywood, which in turn should lead to increased revenue. The potential for the Indian film industry to bounce back is high.
Who knows what the
future holds, but it sure looks bright.
Over the past few decades India’s entertainment industry has been one of their fastest rising industries. The Indian television industry has seen steady growth and is continuing this trend. The Indian film industry, however, has dipped in recent years. With the American film industry beginning to influence Bollywood, the Indian film industry looks to make a comeback. Who knows what the future holds, but it sure looks bright.
Sources:
Growing up as an Indian male in America, I feel as though I understand a large portion of the Bollywood Film Industry, as well as the TV networks that broadcast both in India and America. To me, it is always interesting seeing other people's takes on Indian culture, because as someone on the inside I am sometimes unaware of how it is different and surprising.
ReplyDeleteAs Seth mentions, "Within the last twenty to thirty years India’s entertainment industry has boomed", and this is very evident to me. Personally, I have seen growth from the TV section the most. When I was little there was no such thing as Indian Television here in America, besides what was broadcasted locally dealing with Indians here in the DMV. But in the past few year I have seen a literal explosion of TV shows from India. Much like Spanish Novelas, Indian Serials are being produced at astonishing rates and there are new ones every few months.
But I think the problems I am still seeing is the way Americans (and many other cultures) view and portray Indians as. There is no doubt that the Indian Cinema has been producing hits, because I watch them, but I don't think outside sources give it credit from where they come from. Something i would have to disagree with is how, "the Indian film industry looks to make a comeback." because I believe it is still way up there, just not in this hemisphere.
Furthermore, the cusp between Bollywood and Hollywood is still cusping. As this article by CNN points out (http://articles.cnn.com/2009-02-23/entertainment/bollywood.hollywood_1_indian-cinema-french-new-wave-cinema-mumbai-based?_s=PM:SHOWBIZ) some of the main styles aren't represented when "Americanized"
Entertainment industry and market – part of the tertiary industry of the economy that includes a lot of sub-industries dedicated to entertainment. However, the term is often utilized in the press to explain the press companies that control the distribution and production of press(mass media) entertainment.
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