Finance Dissertation on Indian Film Industry
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- INDIAN FILM INDUSTRY:THE NEW HORIZON ANKIT AGARWAL A30906411013 FACULTY GUIDE: PROF.GAUTAM SINHA
- DECLARATION I declare that the work in this dissertation was carried out in accordance with the requirements of the Universitys Regulations and Code of Practice for Taught Undergraduate Programmes and that it has not been submitted for any other academic award. Except where indicated by specific reference in the text, this work is my own work. Work done in collaboration with, or with the assistance of others, is indicated as such. I have identified all material in this dissertation which is not my own work through appropriate referencing and acknowledgement. Where I have quoted from the work of others, I have included the source in the references/bibliography. Any views expressed in the dissertation are those of the author. SIGNED: DATE: ..
- ACKNOWLEDGEMENT I thank Almighty God who has provided me the faculty of learning and understanding the phenomenon occurring around me. It gives me immense pleasure to express my sincere gratitude to my faculty guide of Amity Global Business School, Kolkata whose help and continued guidance has encourage me to pursue the courses. This dissertation project would not have been possible without the timely response of My faculty members. I wish to thank my parents for their tremendous contribution and support both morally and financially towards the completion of this project. I also express my sincere thanks to all the respondents without their kind co-operation this study would not have been possible. Last but not the least; I would like thank all my friends for their continuous support and valuable contributions towards the successful completion of this dissertation.
- TABLE OF CONTENT Introduction Literature Review Film Industry in India Components Of Film Industry Regional Films History of Indian Film Industry Objectives of the Study Roles & Importance of Film Industry Prospects of Bollywood Key Trends Preferences of Indian Audiences Contribution to the Economy Challenges Faced by the Industry Whats in store for Bollywood ? Films and Travels & tourism Global Scenario Findings Conclusions Glossary Bibliography Questioners
- INTRODUCTION The film and industry consists of the technological and commercial institutions of filmmaking: i.e. film production companies, film studios, cinematography, film production, screenwriting, pre-production, post-production, film Festivals, distribution; and actors, film directors and other film crew personnel. Though the expense involved in making movies almost immediately led film production to concentrate under the auspices of standing production companies, advances in affordable film making equipment, and expansion of opportunities to acquire investment capital from outside the film industry itself, have allowed independent film production to evolve. With more than 600 television channels, 100 million pay-tv households, 70,000 newspapers and 1,000 films produced annually, Indias vibrant media and entertainment (M&E) industry provides attractive growth opportunities for global corporations. Enticed by economic liberalization and high volumes of consumption, many of the worlds media giants have been present in the Indian market for more than two decades. However, in recent years, with near double-digit annual growth and a fast-growing middle class, there has been a renewed surge in investments into the country by global companies.
- LITERATURE REVIEW "Economic Contribution of Indian film and Television industry", prepared by PricewaterhouseCoopers, March 2010-This states the impact of the direct and the indirect contribution of the Indian Film Industry to the Indian economy and also states the expected growth of the Industry in the forthcoming years. "Spotlight on India's Entertainment economy", prepared by Ernst & Young, October 2011-This states how the Indian Film Industry has grown over the years and what are the focus areas of it. This also signifies what are the current trends of the industry and what future stores for it.
- FILM INDUSTRY IN INDIA India is the largest producer of films in the world. In 2009, India produced a total of 2961 films on celluloid that include a staggering figure of 1288 feature films. Films are made in different 20 languages. With 3.3 billion tickets sold annually, India also has the highest number of theater admissions Indian film industry is multi-lingual and the largest in the world in terms of ticket sales and number of films produced. The industry is supported mainly by a vast film-going Indian public, and Indian films have been gaining increasing popularity in the rest of the worldnotably in countries with large numbers of expatriate Indians. Largest film industry in India is the Hindi film industry mostly concentrated in Mumbai (Bombay), and is commonly referred to as "Bollywood", an amalgamation of Bombay and Hollywood. The other largest film industries are Tamil cinema and Telugu cinema which are located in Chennai and Hyderabad and are commonly referred to as "Kollywood" and "Tollywood".
- The remaining majority portion is spread across northern, western, and southern India (with Punjabi, Bengali, Marathi, Oriya, Malayalam, and Kannada). However, there are several smaller centers of Indian film industries in regional languages centered in the states those languages are spoken. Indian films are made filled with musicals, action, romance, comedy, and an increasing number of special effects.
- COMPNENTS OF INDIAN FILM INDUSTRY Production Houses Directors
- Buyers Involved Actors
- REGIONAL FLIMS IN INDIA Mainstream Cinema in India is dominated by Hindi language film which typically makes up a significant portion of total box office collections. However, over the past few years, regional films have been growing popularity with releases in a great number of theaters both within and outside the Indian Territory. Within regional languages, south Indian segment is an important market in terms of number of film releases with the four southern states comprising Andhra Pradesh, Tamil Nadu, Karnataka and Kerala together accounting for a majority of the total number of film releases in India. Other regional language markets in India include films made in Bengali, Bhojpuri, Marathi, Punjabi etc. The total domestic box-office collections from regional language films in India are estimated to be about Rs. 1,508 crores.
- BRIEF HISTORY OF FILM INDUSTRY IN INDIA 1896: First moving picture showed in India 1913: - first Indian-made feature film (3700 feet long) released 1931: India's first talkie, Alam Ara released dubbed into Hindi and Urdu 1930s and 1940s: i) Talkies addressing social differences of caste, class and the relations between the sexes were released ii) Radical cultural organizations led to the formation of All India Progressive Writers Association and the Indian People's Theatre Association (IPTA) 1950: Calcutta becomes the vanguard of the art cinema 1951: industry became the object of considerable moral scrutiny and criticism, and was subject to severe taxation 1960s: i) popular cinema had shifted its social concerns towards more romantic genres ii) The period is also notable for a more assertive Indian nationalism.
- 1970s: By the beginning of the year there existed above150 film societies all over India. 1980s: the films took a stronger stance on the social issues with an outpouring of the social conscience, and flowing of new images. 1990s:In the 1990s, video, national and satellite/cable television have resulted in the development of a prolonged crisis in Indias movie industry, where commercial and art films are equally at risk of failing at the box office. TV INDUSTRY IN INDIA Television is one of the major mass media of India. India is the second-largest pay-TV market in the world, with 108 million subscribers and a reach of 48% of Indian households It is a huge industry which has thousands of programmes across Indian states ranging from national language to regional ones. The small screen has produced numerous celebrities of their own kind some even attaining national fame. Approximately half of all Indian households own a television.
- As of 2010, the country has a collection of free and subscription services over a variety of distribution media, through which there are over 515 channels and 150 are pay channels. According to Pioneer Invest corp, the Indian cable industry is worth 270 billion (US$ 5.94 billion) and is the third largest in the world after China and the US. The number of TV homes in India grew from 120 million in 2007 to 148 million in 2011. Cable reaches 94 million homes with 88 million analog connections and 6 million digital ones, while DTH has commanded 41 million subscribers.
- OBJECTIVE OF THE STUDY The main objectives of the study will be: 1. To know importance of Film and TV Industry with respect to Indian Economy. 2. To evaluate performance of Film and TV Industry. 3. To analyse the preference of the Indian audience. 4. To figure out the problems and issues related with Film and TV Industry. 5. How this industry is helping other Sectors of the Economy? 6. What are the future prospects of the Indian film industry.
- ROLE OR IMPORTANCE OF FILM AND TV INDUSTRY & OUR ECONOMY Film and TV industry is one of the important contributors to the economy and plays a very important and critical role in economic development due to the following reasons: Contribution of Film and TV industry to the GDP was 0.532% The combined revenues of film and TV industry was around Rs. 50,000 crore (USD 10.00 billion) in the calendar year 2013. It is expected that it will be around Rs. 54,000 crore (USD 11.00 billion) in the calendar year 2014. The film and television industry in India is one of the world's largest markets in terms of number of consumers and offers significant growth potential. Over the past few years the industry has experienced rapid double-digit growth and it is expected that this trend will continue in future, resulting in increasing contribution to the Indian economy. The sector has a total output more than $20 billion (Rs 1,00,000 crore), contributing more to the Gross Domestic Product (GDP) of India than the advertising industry. Film and TV industry creates more than 2 million jobs (directly or indirectly) in the economy.
- PROSPECTS OF INDIAN FILM INDUSTRY Emergence of new sources of revenue: In the last few years, the window available to monetize a films revenues at the box office has shortened considerably. This is driving film studios to exploit ancillary streams of revenue such as pay-per-view, mobile, online gaming, and licensing and merchandising. The revenue from these ancillary streams and cable and satellite (C&S) rights are projected to grow at a CAGR of 16% from 2009 to 2014.79 The pre-sale of satellite and home video rights has also gained momentum. Growth is expected to come from the expansion of multiplexes in smaller cities, investments by foreign studios in domestic & Regional Productions, the growing popularity of niche movies and the emergence of digital and ancillary revenue streams. Rise of multiplexes: Multiplexes continue to gain prominences across major Indian cities and companies have lined up investments to accelerate multiplex penetration in smaller towns. The number of multiplex screens is expected to double in the next five years, from 900 to 1,775 screens. Digitization is providing scale and reducing piracy: Digital prints cost 80% less than conventional film prints, allowing producers to reach five times
- the number of screens at the same cost. This has significantly improved realization, as 60% of box-office collections are now earned within the first week of a movies release. Digital cinema allows companies to control exactly where movies are showing and how many times they are shown. It also expands the reach of releases, from large cities to remote towns and villages across India. Regional-language cinema forms an integral part of Indias film industry: 60% of all movies produced in India are in the four South Indian languages of Telugu, Tamil, Kannada and Malayalam.80 This market is witnessing rising investments from Indian and foreign studios, with a gradual shift in favor of regional films as compared to Hindi films. Studios are also releasing dubbed versions of popular Hollywood films, while multiplexes are increasing their Screenings of regional movies. Outsourcing of film services: Services such as postproduction, animation, visual effects, and 2D to 3D conversion are being increasingly outsourced to India, driven by the availability of a skilled workforce and the low cost of services. Small-budget films go mainstream: Small-budget niche films with high- quality scripts have recently gained acceptability among mainstream
- audiences. Strong content and word-of-mouth marketing have helped studios to generate high returns from these films, thereby diversifying their risk from big-budget movies. Globalization of the Indian film industry: Indian producers are improving the international marketability of large budget Indian movies by building partnerships with international screenwriters, composers and technicians. International fi lm studios are also producing and distributing Hindi and regional movies. Of the top six international movie studios, four are involved in distributing or producing Indian movies. A number of Indian film studios and M&E companies are also expanding their international footprint by acquiring international theater chains and production studios. Increased fragmentation in viewership: Viewership, especially in the Hindi general entertainment genre, is increasingly getting fragmented as a result of a large number of such channels being broadcast in India. However, a few players continue to dominate the market, commanding a significant share of the industry segment revenues. Increased competition amongst broadcasters: With new channels being introduced at regular intervals, there is increased competition amongst broadcasters, for viewership and advertising revenue. This coupled with
- high content and marketing costs is expected to impact the profitability of broadcasters in the medium and long term. Increasing penetration of DTH (Direct-to-Home): There has been rapid growth of DTH subscribers in the last few years. This trend is expected to continue over the next few years. However, operating profits are still negative for the industry, due to high customer acquisition costs, and is expected to remain this way untill a critical mass of subscribers is reached. Major DTH service provider in India are : Dish TV, Airtel Digital, Reliance Digital, Videocon, Sun TV, Tata Sky.
- KEY TRENDS Emergence of new sources of revenue: Although revenues from the theater segment constitute around 60% of the overall revenue generated for a movie, other revenue streams have begun to make a meaningful contribution. The trend of pre-selling satellite and home-video rights gained momentum in 2010, and has enabled producers to de-risk their business models. Even films that are due for release in 2014 are witnessing negotiation for satellite and new media rights. Revenue from new media, including mobile and online rights, is expected to increase after the recent introduction of 3G services by mobile operators. In addition, film production houses have the opportunity to monetize their content through gaming on mobile and online platforms. New sources of revenue will reduce a movies dependence on its theatrical performance for it to achieve success and is expected to enable fuller exploitation of content. Collaboration with international studios: International film studios such as Warner Bros., Disney, Fox and Dreamworks have entered collaborations with local film production houses to develop Hindi and regional movies. Walt Disney, who earlier held a 50% stake in UTV, has now acquired a controlling stake in UTV Software Communications.
- Viacom18 has also entered a deal with global movie company paramount Pictures to market and distribute the latters movies in India, Bangladesh and Sri Lanka. It has already ventured into production of Hindi language movies, and the new deal is expected to help it create a distribution network. Local film production can leverage the experience of these international studios to expand their international reach and incorporate enhanced project planning and cost controls.
- Preferences of the Indian audiences Taking the Sample size to be 75. Q.1. Favourite Actor ? Shahrukh Khan Salman Khan Aamir Khan Akshay Kumar Q.2. Favourite Actress ? Katrina Kaif Kareena Kapoor Khan Priyanka Chopra Sonakshi Sinha 0 10 20 30 Shahrukh Khan Salman Khan Aamir Khan Akshay Kumar 0 5 10 15 20 25 Kareena Kapoor Khan Katrina Kaif Priyanka Chopra Sonakshi Sinha
- Q.3. Favourite Genre ? Action Romantic Historical Thriller/Horror Q.4. Favourite Singer ? Sonu Nigam Honey Singh Rabbi Shergill Arijit Singh Action 45% Romantic 31% Historical 13% Thriller/Horror 11% Sonu Nigam 16% Honey Singh 31% Rabbi Shergill 20% Arijit Singh 33%
- Q.5. Favourite Movie ? Chennai Experess Dhoom 3 Jai Ho Boss Q.6. Favourite Director? Karan Johar Rohit Shetty Sanjay L. Bansali Abbas Mustan Chennai Express Dhoom 3 Jai Ho Boss Karan Johar Rohit Shetty Sanjay L. Bansali Abbas Mustan
- Contribution of Film Industry to the Economy Direct Contribution to the Economy: Gross Output Gross Value Added (GVA) Net Indirect Tax Employment Rs. Crores USD Million Rs. Crores USD Million Rs. Crores USD Million Lakh Indian Film Industry 12,312 2,709 2,132 469 800 176 1.4
- Revenues of Film and TV Industry (Rs in Crore) Year Film Industry TV Industry Total 2009 24,470 10,700 35,170 2010 26,750 11,800 38,550 2011 29,800 13,200 43,000 2012 33,200 14,700 47,900 2013* 37,200 15,900 53,100 2014* 42,000 18,500 60,500 * =Expected
- 75% 2% 6% 8% 9% Revenue Breakdown Domestic Box Office Ad Revenue Cable and Satellite rights Home Video Overseas box office
- Indian Film Industry Domestic Box office Collections 8125 8775 9825 10890 11550 13233 0 2000 4000 6000 8000 10000 12000 14000 2008 2009 2010 2011 2012 2013 Domestic Box Office (Rs. Crore) Column1 Column2
- Domestic box office collections are projected to increase to Rs. 13,000 crores (USD 2.8 billion) by the year 2014, growing at a CAGR of 10%. This growth is primarily attributable to the growth in average ticket prices, projected to increase from Rs. 25 (USD 55 cents) in 2009 to Rs. 40 (USD 88 cents) by 2014. Indian Television Industry Revenue As per estimates, it is expected that revenue will be around 42,000 crore by 2014. 24470 26750 29800 33200 37200 42000 0 5000 10000 15000 20000 25000 30000 35000 40000 45000 2009 2010 2011 2012 2013E 2014E Overall Television Revenue (in Rs Crore)
- ECONOMICS OF BOLLYWOOD MOVIES EK THA TIGER Enough has been said, spoken and written about the merits/demerits of the film. So lets not get there. Instead, its time to do the Economics of this much-talked- about biggie Cost of production + Print & Advertising 90 cr Revenue the Film has generated Satellite Rights 45 cr Music Rights + Home Video + Ringtones 6 cr Overseas theatrical share25 cr India theatrical share100 cr Total revenue generated 176 cr Return on investment [after deducting the cost] 86 cr
- LOOTERA "Lootera" released with much expectations and after exceptional reviews started pouring in, many thought it as next "Barfi!" but that was not the case as film faltered big time at box office. Cost of production + Print & Advertising 33 cr Revenue the Film has generated Satellite Rights 8 cr Music Rights + Home Video + Ringtones 3 cr Overseas theatrical share4 cr India theatrical share15 cr Total revenue generated 30 cr Return on investment [after deducting the cost] (-3 cr) Loss
- BOLLYWOOD WORLDWIDE ENTERTAINERS Rank Movie Name Domestic Collections (Nett) in Rs. crores Domestic Collections (Gross) in Rs. crores International US Dollar Millions Dollar Rate During The Respective Year International Collections in Rs. Crores Total (Gross) Collection Rs. Crores 1 Dhoom3 280.25 372 27 million 61 165 537.00 2 Chennai Express 226.70 301 19.30 million 63 121 422.00 3 3 Idiots 202.00 269 25 47 & USD 60 (for June 2013) 120 + 6 (after June 2013) = 126 395 4 Krrish 3 240.50 320 9 million 60 54 374 5 Ek Tha Tiger 198.00 263 10 million 56 56 319 6 YJHD 190.00 253 10 million 56 56 309 7 Dabangg 2 159.00 211 9.75 million 55 54 265 8 Jab Tak Hai Jaan 121.00 161 14 million 57 80 241
- CHALLENGED FACED BY INDIAN FILM INDUSTRY Content Regulation - A long-standing debate continues amongst the Industry members on regulation of content. Some of the issues that need to be addressed in this sphere include: Should there be a content regulator or should the industry be allowed self-regulation under a broad framework?
- Content - One of the problems is that younger generations sometimes find the stories a bit predictable, and get bored of similar tales. Entertainment tax - A crisis plaguing the industry is the distortionary rate of entertainment tax within states in India. For instance, in Andhra Pradesh and Tamil Nadu, the tax rate is low. However, this has not been the case with the rest of the states in India. Piracy - The Indian film industry is significantly impacted by online piracy. A study undertaken by Motion Picture Distributors Association (MPDAI) has put India among the top ten countries in the world, where online piracy is at its peak In India, counterfeiting and piracy costs the entertainment industry US$4billion and losses of approximately 800,000 jobs annually.
- WHATS IN STORE FOR BOLLYWOOD ??? Bollywood company tie-ups/collaborations (Corporatization)- Reliance Big Entertainment signed a deal worth US$ 1.2 billion with Steven Spielbergs Dream Works SKG to produce 36 films for the next 6 years Reliance also acquired around 200 theatres in 28 locations in North America to screen Bollywood and other regional movies from India, Walt Disney has invested around US$ 324 million in a deal with Yash Raj Films. Ramesh Sippy Entertainment has collaborated with Warner Bros. Focus on niche movies - The recent success of small budget niche movies such as No One Killed Jessica, Peepli Live, Well Done Abba and Dhobi Ghat has re-emphasized the importance of content-driven films.While these movies are produced on tight budgets, strong content and word-of- mouth marketing can bring high returns to studios. The success of such movies has at best been patchy over recent years, but a few failures should not deter industry players from backing good scripts with requisite funding. In addition, refined audience tastes and the advent of miniplexes to cater to the tastes of targeted audiences is likely to drive the production of more such movies, which is in sync with the portfolio approach adopted of late by studios.
- The Hollywood Connect Bollywood to Hollywood - Anil Kapoor in Slum Dog Millionaire and later in 24. Aishwarya Rai Bachchan in Pink Panther 2 with Steve Martin and The Last Legion with Colin Firth Hollywood to Bollywood- Ben Kingsley in Teen Patti (Three Cards) Sylvester Stallone in Kambakht Ishq. Jennifer Chambers directed Hiss VFX TECNOLOGY- The visual effects (VFX) industry is a rapidly evolving segment in India. It involves the creation of live action imagery by using computer-generated effects. It is being increasingly used by the visual media in India and can be broadly classified into the following verticals
- movies, TV shows and advertisements. The segment is still at its nascent stage with mainly low-end work being done in India. Domestic consumption is fairly small, and therefore, the bulk of the work includes outsourced projects from the US and the UK. However, the domestic market is seeing bigger budget movies and ad campaigns, which are now open to spending more on VFX to provide an enhanced visual experience to viewers. 3D TECNOLOGY- In 2009, when Avatar and a spate of Hollywood action, adventure and fantasy films released in India in three- dimensional technology (3D) format, the audience was fascinated. Now the bug seems to have bitten Bollywood. Several films, including
- Dangerous Ishhq, Raaz 3, ABCD and Suparn Vermas untitled project for Kumar Mangat, were shot in 3D. ANIMATION TECNOLOGY- October 2008 saw the release of Roadside Romeothe first 3D animation movie out of Indiaproduced jointly by Yash Raj Films and Walt Disney Pictures. Roadside Romeo is the tale of a pampered puppy whose owners move, leaving him behind to fend for
- himself on the streets of Mumbai, following by many other Flicks. Animation movies in India are made on less than one-tenth of the budget of a similar Hollywood flick. That's because even a mainstream Bollywood film does not gross collections of more than US$20.6 million (or 1 billion rupees). While Hollywood produces animation movies with a budget of US$60 million to US$80 million, these investments are justified because the receipts are to the tune of US$200 million.
- FILMS AND TRAVEL & TOURISM The tourism boards of many countries, such as Switzerland, have in the past targeted Bollywood to showcase themselves as destinations for high-spending Indian travellers. Today, this trend has taken off in a big way, with Indians getting richer and many of them taking foreign holidays. Typically, most countries offer tax sops in the form of VAT refund ranging from 10 -20%, depending on the location and budget. Film production companies are eligible for such refunds if they spend a certain percentage of their entire budget filming in a particular country and using local talent. There are also ample opportunities for inbound tourism beyond popular destinations such as Goa, Kerala and Rajasthan. Indian films can be a great platform to showcase the countrys rich cultural heritage, variety of travel destinations and diversity in cuisine to the world. Hollywood films can perform the same task if provided with adequate facilities and incentives. The Ministry of Information and Broadcasting and the Ministry of Tourism have signed a Memorandum of Understanding (MoU) to provide strong support to film tourism in a bid to give a fillip to the Incredible India campaign and cinema as its sub-brand at various international film festivals and markets abroad. According to the MoU, the Ministry of Tourism will provide budgetary support for identified film festivals and offer single- window clearance permission to shoot films. This is expected to create a film tourism vertical that will promote India as a filming destination for domestic and foreign film producers.
- GLOBAL SCENARIO Worldwide, countries offer incentives of various types to encourage film producers to use their locations to shoot films. Incentive regimes are offered in the following forms: Cash rebates - where a specified percentage of expenditure in a country is provided as a rebate to the film producers Exemption from or refund of VAT and Customs duty Encashable credits - where incentives or tax credits are allowed to be transferred and encashed Interest free loans - provide funding for films shot in the country, sometimes as a revolving facility Soft funding - negotiated tourism benefits, such a easier processing of visas, and discounts on accommodation and travel, location tariff to facilitate road or shooting permits, assistance in identifying locations, etc. Cultural test - many countries provide incentives based on satisfaction of a Cultural test - a point-based system for rating a movie on certain local cultural parameters (with co-production often being a requirement between the foreign producer and the local producer, and in some countries, states offering incentives in addition to the incentives granted by the central government)
- FINDINGS Lakhs of people are getting employment from both the Industries (directly or indirectly) Digitalization has helped a lot the industry in getting revenue from new sources. Piracy is a major or main problem of the film industry. People are losing lakhs of jobs due the piracy of movies. Penetration of Television in household is increasing day by day. Local cable operators are dominating the market. Direct to home service has helped a lot the Television industry. Foreign entertainment companies such as Fox, Disney etc. are also interested in Indian film industry. These companies are also investing crores of rupees in India.
- CONCLUSIONS On the basis of study, we can conclude that Film and TV industry is one the major important sector of the economy. Lakhs of people of different background getting employment in different fields of the Industry. Digitalization has helped a lot the Industry. Therefore, it is of prime importance to encourage art, artists, technicians, directors and producers and give them the opportunity to showcase their talent. In doing so, they will reflect cultures, propose novel and sometimes path-breaking ideas, capture situations and reproduce history. The media and entertainment industry therefore needs all the possible help to realize its rich potential and make the impact it so richly deserves to make. The media and entertainment Industry is poised to witness momentous growth. The examples of achievements and opportunities given above amply demonstrate the numerous possibilities that exist, which can nurture a fruitful collaboration between Hollywood and Bollywood by a methodical approach, backed by organizations such as the LA India Film Council and the cooperation of the governments of the two countries. From behind the cameras, acting in studios to managing the lights and the action, every individual in the media and entertainment industry strives to rise above and go beyond previously set standards and present the world with a picture-perfect experience to make an impact, not only on audiences, but also on the economies of the countries to which they belong.
- Small Budget films go main-stream: Small budget niche films with high quality scripts have recently gain acceptability among the mainstream audiences. Strong content and word-of-mouth market have helped studios to generate high returns from these films, thereby diversifying their risk from big budget movies. Globalization of the Indian film Industry: Indian producers are improving the international marketability of the large budget Indian movies by building partnerships with International screen writers, composers, and technicians. International film studios are also producing and distributing Hindi and regional movies.
- GLOSSARY Gross Output: This represents the total value of goods and supplied by the entities in the industry. This is measured by the aggregate revenues of all companies in the industry. Note: Gross Output as a measure, is different from the total consumer spend in the industry, and may vary based on the industry structure. However, the measures of "Gross Value Added", "Net Indirect Taxes" and "Employment" would remain the same, irrespective of industry structure. This has been further explained in the methodology section of this report. Gross Value Added ("GVA"): This factor measures the returns to labour and capital, i.e. the value of output generated by the entity's factors of production. This measure, along with the Net Indirect Taxes indicates the industry's contribution to the economy. Net Indirect Taxes ("NIT"): Indirect taxes (net of subsidies) paid by the industry. Employment: This measures the number of workers that are employed in the industry.
- BIBLIOGRAPHY 1. "Economic Contribution of Indian film and Television industry", prepared by PricewaterhouseCoopers, March 2010. 2. "Spotlight on India's Entertainment economy", prepared by Ernst & Young, October 2011. 3. http://www.indiaglitz.com 4..http://ibnlive.in.com/news/media-sector-added-6-bn-to-indian- economy/111750-7.html 5. http://www.financialexpress.com/news/piracy-a-serious-threat-to-indian- film-industry/592752/ 6.http://copyright.gov.in/Documents/STUDY%20ON%20COPYRIGHT%20PIRACY %20IN%20INDIA.pdf 7. http://en.wikipedia.org/wiki/Film_industry 8. http://en.wikipedia.org/wiki/Television_in_India 9. http://www.wipo.int/ip-development/en/creative_industry/pdf/ecostudy- canada.pdf
- QUESTIONERE Q.1. Favourite Actor ? Shahrukh Khan Salman Khan Aamir Khan Akshay Kumar Q.2. Favourite Actress ? Katrina Kaif Kareena Kapoor Khan Priyanka Chopra Sonakshi Sinha Q.3. Favourite Genre ? Action Romantic Historical Thriller/Horror Q.4. Favourite Singer ? Sonu Nigam Honey Singh Rabbi Shergill Arijit Singh Q.5. Favourite Movie ? Chennai Experess Dhoom 3 Jai Ho Boss Q.6. Favourite Director? Karan Johar Rohit Shetty Sanjay L. Bansali Abbas Mustan