Gmsp Singapore Essay

4185 words - 17 pages

INDIAN FILM INDUSTRY - An OverviewThe Indian film industry is the largest in the world in terms of number of movies produced. The industry is quite old. It has come a long way - from the first motion pictures brought to India by Lumiere Brothers in the form of soundless short films in 1896, to India's first commercially successful silent feature film King Harishchandra in 1913; to Indian filmmakers making films in English such as Delhi Belly. Rightly so, in 2013 Indian cinema completes 100 years! The Indian film industry produces more than 1,000 films every year in 52 languages and over 3.7 billion tickets are sold annually. There are over 400 production houses in the country with 32 corporate houses in the business of film production. The film industry provides employment to over 60 lakh people and its current turnover is crossed Rs.12,000 crores for the year 2010. The turning point for the industry came in the year 2001, when the government according industry status for the film industry. The sector was earlier dependent on private film financiers who used to charge exorbitant rates of interest and there were also concerns regarding money laundering with many of the anti-social elements getting involved in film financing. The granting of the industry status facilitated securing of finances from financial institutions at affordable rates and brought in the much needed transparency in the industry. Individual investors were the leading contributors to non-traditional film financing accounting for 64% of the corpus, followed by IPO's which accounted for 16% of finance. A new source of film finance is the TV broadcaster becoming an equity investor by buying TV rights in perpetuity from the film producer.An interesting trend in the Indian film industry is the growing success of Indian movies abroad.Indian films are slowly gaining momentum in the International market and in a span of more than a decade, many Bollywood celebrities have become global faces who represent the jazzy and glamorous world of Hindi film industry abroad. Now, Bollywood has a lot of elements that are at par with the international standards like the finish, the sound system, the quality of movies or the kind of content. We are just giving them a taste of Bollywood right now. Jodhaa Akbar released in the year 2008, was hugely successful in the overseas markets with collection of $1.35 million in the opening weekend itself. Om Shanti Om collected over Rs.20 million in global revenues. In contrast to the scenario at the start of the century when majority of the movies that were released in India being foreign moves, now Indian movies are finding ready acceptance in foreign countries. Bollywood movies such as Dilwale Dulhaniya Le Jayenge and Kal Ho Naa Ho dealing with overseas culture have been a hit in India while movies produced by Indian film makers with the western audience in mind such as Bride and Prejudice, Monsoon Wedding, and Fire, Earth and Water have been successful in...

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