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CINEMA:
FILM MARKETING
The
Big Daddy
We
haven't got to the big daddy-overseas rights — as yet. A growing
Indian diaspora, estimated at over 20 million across 20 countries, has
ensured that Indian films are a big draw the world over. While the US
and UK continue to be the leading markets, the Middle East, South-East
Asia, Canada, the Caribbean, Japan and South Africa also have a share.
Avers Ravi Gupta, ceo of b4u: "For an exceptional movie, overseas
rates range from anywhere between $100,000 (around Rs 46 lakh) to $2 million
(Rs 9.2 crore)."
There is
more. Rights for digital video disc (DVD), though a fledgling market,
are already fetching Rs 1 crore even for films like Refugee.
There is also the emerging Internet market. As of now, websites are
cutting deals only for publicity but with connectivity and broadband in
the pipeline, Internet rights could rake in as much as audio does. Maybe
more.
Product placements
are just as lucrative. Ghai's Yaadein, it is reported, has earned
around Rs 3-5 crore through in-film advertising.
A study done
by Arthur Andersen for FICCI puts the current entertainment industry in
India (including teleserials and films) at Rs 15,400 crore and expects
it to grow to Rs 60,000 crore by 2007.
"Last
year," says Ghai, "the film industry logged Rs 6,000 crore.
By 2003, it is expected to touch Rs 33,000 crore."
Naturally
everybody, including A-list artistes, want to be in. Ajay Devgan's Devgan
Entertainment is into distribution and Internet. G.S. Entertainment-run
by Salman Khan's brother Sohail-is dabbling with production and star shows.
Shah Rukh Khan and Juhi Chawla are not overly perturbed by the indifferent
reception to Phir Bhi Dil Hai Hindustani and are now in the midst
of producing Ashoka the Great.
Given this and the fact that time horizons for content have shrunk over
the years, the demand for content far outstrips the supply. Khanna reveals
that in a year "there will be over 50 corporate entities making movies".
A fact already recognised by the Union Government. Having announced industry
status for Bollywood, Information and Broadcasting Minister Sushma Swaraj
declared last fortnight that IDBI would be allowed to fund films. This,
in simple terms, is affirmation that Bollywood is no longer seen as a
high-risk business. Says Sanjay Bhattacharya, vice-president, UTV Motion
Pictures: "High risk is only in the minds of people. Everybody covers
investment by selling. And when you hit the bull's eye, profits can be
as high as 500 per cent."
Anil Sekri, tax consultant for the film industry, dubs Bollywood as "the
sunrise industry". Of course, as Ghai puts it, there is no denying
that there will be bad apples. "After all, it is not just credit
or capital that makes or mars." His formula for high returns: focus
on talent, control credit flows and ensure professionalism.
If Bollywood
can manage that, multi-billion dollar Hollywood may yet find true and
tough competition.
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INDIA TODAY Deputy Editor Swapan Dasgupta voices the despair of a community that Jyoti Basu forcibly converted into a diaspora in his 23 years of zero-contribution rule. 