Management research on Film industry

8/7/2019 Management research on Film industry

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Submitted By: Sakshi Vashist 107107061

Irfan Mohamed 107107059

Suraj Jaison 107107028Arka Bhattacharya 107107072

STUDY ON IMPACT OF INDIAN FILM INDUSTRY

ON INDIAN ECONOMY


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BUSINESS OF CINEMA: THE INDIAN FILM INDUSTRY OFFICIAL

Film & Television industry contributes over $6 billion to Indian economy: PwC

report

India's burgeoning film industry created nearly 1.8 million jobs and contributes an immense $6.2

billion (Rs 28,305 crores) to the Indian economy, according to a new report released by Price

Waterhouse Coopers.

The report, titled Economic Contribution of the Indian Film and Television Industry, also finds that the

sector has a total gross output of $20.4 billion (Rs 92,645 crores) and contributes more to the

GDP of India than the advertising industry.

Commissioned by the Motion Picture Distributors Association (India) , representing the

MPA in India, the study measures the direct, indirect and induced economic impacts created by

the film and television industry, and combines them to determine the industry's total economic

contribution.

The combined revenues of the Indian film and television industry were over $7.7 billion (Rs

35,000 crores) in the calendar year 2009. This is expected to grow at a rate of 11% over the next

five years, reaching a size of over $13 billion (Rs 60,000 crores).

While still growing, the Indian film industry already contributes significantly to India's economy,

and the menace of copyright theft jeopardizes a movies ability to make money - if at all. This

affects the level of investment available for new films and the ability to create new jobs for

workers throughout the country.

"This report demonstrates the importance of the film sector to the overall growth and vitality of the Indian

economy. Indians should be proud of the staggering growth that the film industry has achieved" said MotionPicture Association of America (MPAA) chairman Dan Glickman, who launched the report in

New Delhi at the Asia Society Conference.

"The film industry in India is one of the world's largest markets in terms of number of consumers and offers

significant growth potential." added Time Warner senior vice president Hugh Stephens.

According to Business Week, The huge popularity of India's film industry in emerging markets

has fuelled an annual growth rate of 15% for the past five years--three times which of India's 5%

gross domestic product growth. Despite the recent surge in popularity for Bollywood in the

West, overall this year has been dismal: Only a handful of films have turned a profit. Yet in a

good year, hits can deliver returns of 25% or more. Bollywoods global annual revenues,

estimated at $1.3 billion this year, are small change compared with Hollywood's $51 billion. And

new distribution is helping boost profits: Bollywood films earned $108 million in overseas DVD,

video, and satellite TV sales last year, up 25% from 2000.

According to Indian Biz, The total film industry contributed $1.5 billion to the Indian

economy, of which the report's key findings include the contribution of the U.S. and

international film industry in India at $67 million, employing 14,000 people, reflecting the

dominance of the local industry. The total gross output (total revenue from various streams


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such as theatrical, home video etc) of the U.S. and foreign film industry in India is estimated at

$180 million. The report estimates overall Indian box office collections at $1.8 billion which is

projected to grow at a compound annual growth rate (CAGR) of 10% by 2013 to touch $2.8

billion. The economic contribution to the economy by the television industry i s valued at $4.6

billion. The overall size of the TV industry in 2008 is estimated at $5.4 billion projected to grow

at a CAGR of 11.4% to touch $9.2 billion by 2013.

The study also found that the Indian film and TV sector has a total gross output of $20.4 billion

(the total value of goods and services supplied by the industry) and contributes more to the GDP

of India at 0.53% than the advertising industry which constitutes 0.4 per cent.

Indian Filmed Entertainment Industry

Indian filmed entertainment industry has painted rewarding performances since past few years.Pressured by challenges elicited within the industry and the turbulence in global economy, theindustry registered a dismal growth for the year gone by.

Indian filmed entertainment industry consists of movies produced in various genres and

languages. The cinema of India consists of films produced across India, including the cinematic

culture of Maharashtra, Assam, Karnataka, Kerala, Andhra Pradesh, Orissa, Punjab, Tamil Nadu

and West Bengal. Indian films came to be followed throughout South Asia and the Middle East.

As cinema has gained popularity in the country, as many as 1,000 films in various languages of

India are produced annually.

Indian cinema found markets in over 90 countries where films from India are screened

India is the world's largest producer of films. In 2009, India produced a total of 2961 films oncelluloid, which include a staggering figure of 1288 feature films. Hindi films rule mainstream

cinema in India and typically make up a significant portion of total domestic box officecollections. However, over the last few years, regional language films have shot in popularitywith releases in a greater number of theatres both within and outside the Indian Territory. Thetotal domestic box-office collections from regional language films in India are estimated to beabout Rs. 15 billion.

Break-up of 2009 Indian feature films produced in 24 Languages.[7]

Rank Language No. of films

1 Hindi 235

2 Telugu

2183 Tamil 190

4 Kannada 177

5 Marathi 99

6 Malayalam 94

7 Bengali 84

8 Bhojpuri 64


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9 Gujarati 62

10 Oriya 17

11 Punjabi 15

12 English 9

13 Assamese 5

13 Rajasthani 5

15 Konkani 4

16 Santali 2

17 Haryanvi 1

17 Kodava 1

17 Maithili 1

17 Nagpuri 1

17 Nepali 1

17 Rajbanshi 1

17 Sambalpuri 1

17 Mishing 1

Total 1288


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Chart: Value Chain of Indian Filmed Industry

Market Size

Indian filmed entertainment industry is currently estimated to be at Rs. 95 billion in 2009slipping from Rs. 107 billion in 2008 showing a de-growth of 11.3% from 2008 to 2009.

This negative growth was primarily due to the following reasons: Multiplex strike in India resulting in no new movies being released in India or abroad during aperiod of 8-10 weeks in 2009. Economic recession and impact of swine flu which kept audiences away from theatres.

Funding

Funding for Bollywood films often comes from private distributors and a few large studios.Indian banks and financial institutions were forbidden from lending money to movie studios.However, this ban has now been lifted.

The provision of 100% foreign direct investment has made the Indian film market attractive forforeign enterprises such as 20th Century Fox, Sony Pictures, and Warner Bros. Prominent Indianenterprises such as Zee, UTV, Adlabs and Sun Network's Sun Pictures also participated inproducing and distributing films. Tax incentives to multiplexes have aided the multiplex boom inIndia.

Institutions such as the Industrial Development Bank of India also came forward to financeHindi films.

By 2003 as many as 30 film production companies had been listed in the National StockExchange of India, making the commercial presence of the medium felt.


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Impact of Global Economic Slowdown

y Rationalisation of costs in film production: The global economic slumpincapacitated the film industry, with projects either being scaled down or shelved. The artistscosts which had climbed up substantially in the past few years furthered hampered therelease of several films. This eventuated to newer films being negotiated at lower rates andsome rates being rationalised for existing films. The correction was estimated to the tune of20-30%.

y Revenues from other streams drying out: The rise in cost of production hadresulted in mounting expectations of revenue earning potential for the films. Producersusually de-risk themselves from the fluctuations of fortunes of movies at box office bypreselling all the rights.

Impact of Multiplex Strike on Revenues

One of the pre-eminent developments of 2009 was the discord between multiplex operators andfilm producers over revenue sharing mechanism. No new Hindi films were released inmultiplexes since April 4, 2009 till June 2009, causing film exhibitors and distributors a reportedloss of Rs. 3.5 billion.

Consequently, almost half of the 900 multiplex screens across the country were shut down by themultiplex chains in order to control their costs. Film producers also incurred losses running intomany billions, due to procrastination in the film release dates.

Film producers wanted an equal sharing of revenues from movies that was not linked to theperformance of the movies. On the other hand, multiplex operators wanted to link the revenuesharing to the performance of movies on box office.


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Key trends in FilmedEntertainment Industry

y Dubbing in regional languagesA number of Hollywood and Hindi films have realised the potential of regional cinema and therehave been increased instances of international Bollywood films being dubbed in other languages.


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y Digitisation of Indian cinemaMany single screen cinemas are going digital in line with multiplex screens to enhance usersexperience. There are currently approximately 3,000 digital cinema screens in India which havebeen put up by companies such as UFO Moviez and Real Image. There are several advantages ofdigital cinema screens, most prominent of which includes savings on print costs and reducingpiracy.

y 3D Screens on riseWith the success of Avatar, 3D cinema in India has received further impetus. The number of 3Dscreens in larger and smaller towns has leapt and the trend is expected to flow ahead. Adlabs hasalso announced the launch of its BIG Digital 3D at the Adlabs Cinema in New Mumbai. It hadalso pioneered the use of 6D in the first screen of its type in the Adlabs Cinema in Agra inpartnership with Israel-based Cinema Park Network.

Key Challenges for the Filmed Entertainment Industry

y Entertainment Tax exemptionsThe entertainment tax exemption provided by the State Governments has served as an incentivefor multiplex expansion and as a result, most multiplex properties have been functioning undersubsidies on entertainment tax.

y Increasing Talent CostThough the talent costs took a dip in 2009, they have been rising ever since the market hasameliorated. In the Indian market, there are limited stars and hence limited talent to market.Since talent cost is a major part of overall production cost, it would also result in increase inmovie cost.

y PiracyThe Indian film industry is significantly impacted by online piracy. A study undertaken byMotion Picture Distributors Association (MPDAI) has put India among the top ten countries inthe world, where online piracy is at its peak.

Hollywood (English Films), Bollywood (Hindi Films), Tollywood (Telugu Films) and Kollywood(Tamil Films) are the chief victims of this crime. Research has shown that online piracy of filmand television content in India is mainly through file sharing networks.With digitisation of cinemas piracy is being countered by the producers. Piracy using digitalcamcorder can be tracked to its original cinema using digital imprint hidden within the print andthe same is unique for each theatre.

The Government is also taking action against piracy with audio and video piracy being put under

Maharashtra Prevention of Dangerous Activities (MPDA) Act in Maharashtra. Tamil Nadu hadpreviously taken similar action.

The Federation of Indian Chambers of Commerce and Industry (FICCI) estimate that theBollywood industry loses $100 million annually in loss of revenue from pirated home videos andDVDs.


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Future Prospects

Indian filmed entertainment industry is projected to grow from Rs. 95 billion in 2009 to Rs.170.5 billion in 2014 showing a CAGR of 12.4% for the next five years.

Domestic box office is estimated to be back on the upward trend and grow from the current

size of Rs. 70 billion in 2009 to Rs. 124 billion in 2014. This growth would be supported by thespread out in multiplex sector and increased dominance of digitisation which would help curbpiracy.

Rising demand for Indian movies abroad will drive the overseas theatrical revenues and theyare expected to grow from Rs. 8 billion in 2009 to Rs.14.5 billion in 2014.

Increasing initiatives by the Government to curb piracy, decreasing dependence on rentalmarket and growing digitisation will drive the home video market and it is expected grow fromRs. 6.5 billion in 2009 to Rs. 12 billion in 2014.

With increasing mobile penetration, arrival of 3G and increased demand for new movie

content by broadcasters, ancillary revenues are also expected to grow from Rs. 10.5 billion in2009 to Rs. 20 billion in 2014.


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Film Industry Tax Issues

Direct Tax Issues

Withholding tax on payments made by film financers to film producers and artistsThe film financiers, typically, enter into film financing agreements or arrangements with differentproducers and directors of the films in order to provide financial assistance to them for makingthe film. These film financiers are not engaged either in producing the films or in hiring theservices of producers and directors for making the film. The film financier is entitled to recoverthe money advanced by it from the distribution of the film. Recently, the Tax Tribunals has heldthat financing of the film projects does not amount to making any payment for carrying out anywork which is a requirement for withholding tax under section 194C of the IT Act. The taxtribunal has also observed that a relationship of principal and contractor does not exist betweenthe film financier and a film producer or director.

Joint production of films by Indian and foreign producer

In cases where the venture of producing film is undertaken jointly by an Indian and a foreignproducer, care is taken to ensure that the arrangement does not result into constitution of anAssociation of Persons (AOP), which is taxed as a separate independent legal entit y apart fromits members. If the venture is assessed as an AOP, complexity could arise, for e.g. availability ofcredit for taxes withheld eligibility to claim the tax treaty benefits and so on.

Taxability of Hollywood companies in IndiaHollywood companies produce films outside India and distribute them throughout the world,including India. These companies generally import the prints of the movies into India throughtheir Indian branch and grant exhibition/distribution rights for lump sum consideration o rRoyalty based on ticket sales. Determination of taxable income of the Hollywood companies hasbeen a matter of interim controversy in view of the practical difficulties faced in computing net

profit attributable to the Indian operations.

Indirect Tax Issues

Differential rate of VAT on sale of recorded DVDs/ CDs in different statesWith the advancement of technology and availability of low cost DVDs /CDs in India, thehome entertainment segment of the cinematographic film is growing at a staggering pace. Theonly path- breaker in this growth is piracy, i.e. unauthorized versions of the original DVDs/ CDsfloating in the market.The VAT rate applicable on sale of recorded DVDs/CDs in majority of states in India is 4% -5%. However, in certain states such as Gujarat, Uttar Pradesh, Rajasthan, Madhya Pradesh andAssam, the rate of VAT on sale of recorded DVDs/CDs is 12.50% - 15%. There is direct nexusbetween the prices of recorded DVDs/CDs with the piracy in India. The increased cost ofrecorded DVDs/CDs (on account of increased rate of VAT i.e. 12.50% - 15%) results in non-affordability of the legitimate copy of the DVDs/CDs to the consumers. In such a scenario, thedemand of the non-legitimate versions of the recorded DVDs/CDs increases and helps piracy toflourish in the market. Such piracy results in loss to the state Governments VAT revenue, as thesale of such pirated / non-legitimate versions of DVDs/CDs go without levy of VAT.Moreover, since the central Government provides specific exemption from levy of excise dutyon manufacture of recorded DVDs/CDs, it would be prudent on the state Governments part to


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either exempt the sale of DVDs / CDs from levy of VAT or reduce the rate of VAT on thesame to 4% - 5%. .

Theatrical RevenueSince the transactions between the producer and the distributor would involve transfer of rightto use copyrights in the films, and copy rights are considered as intangible goods under VAT

Laws, the same would be chargeable to VAT as deemed sale of such copyrights.In addition to VAT, the same transaction will also attract Service Tax under the newlyintroduced category of service, Copyright Services, leading to double taxation. Similarly, thetransactions between the distributor and the exhibitor, if executed on similar li nes, would also besubject to double taxation, creating a major issue for the exhibitors as they have no output taxliability against which the set off of the VAT as well as the Service Tax can be availed.

Non-Theatrical RevenueThe introduction of the new category of service also impacts the transactions in relation to non-theatrical revenue, viz grant of satellite rights, Cable TV rights, Digital rights, besides others.Wherever the copyright in the films is temporarily transferred to other entities, the same wouldbe chargeable to VAT as well as Service Tax, leading to double taxation.

Regulatory Issues

The State Governments are empowered to levy tax on entertainment under the Constitutionof India. The entertainment tax levied on release of films in cinema halls is highly uneven acrossvarious States and is in excess of 30% 40% in certain States. Further, single screen theatres arefaced with levy of higher entertainment tax compared to multiplexes, resulting in disparity. TheCentral Government could consider acting as a coordinator in bringing parity in entertainmenttax rates across India, thus bringing relief to the players and also the end-consumers.

Currently, India has co-production treaties for films with Italy, Brazil, UK and Germany. Indiamay consider entering into more co-production treaties with other countries especially with

strong demand of entering an agreement with USA. This should help to increase the exportpotential of the local film industry as such films would get the status of national production inboth countries. It will also smoothen the process of importing equipment ne eded for films andlead to sharing of technologies and talent. Formation of an Export Promotion Council in orderto promote the development of export markets for Indian films has gathered momentum.


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Direct Revenue Streams

Indian filmed industry, like most film industries globally, is highly dependent on appealingcontent and certain individual stars. A few good movies in a year can spell an excellent year forthe industry as well as its participants, while the lack of good content or dearth of new moviesfrom few superstars can set back the industry and can impact all the revenue streams. There are

four key revenue streams from Indian filmed entertainment industry:

Box Office Collection Domestic

Box Office Collection Overseas

Home Video Domestic and Overseas

Ancillary Revenues

Marketing

Taking the online route Films have received success while marketing online on social forums andother interactive mediums online. Users are engaged on Twitter and Facebook by asking to senda message in the social networking forum to listen to the promos and music.

For Example: Avatars social media strategy also branched out to YouTube (close to 11 millionvideo views) and Flickr (over 1 million photo views). Moreover, various topics of interest werealso started such as Why Avatar aliens are blue? to make it more interactive for the users.

The marketing team also built and Alternate Reality Game (ARG) in association with Zapak to

connect with the youth. They also created a Facebook fan page and Aamir Khans the pukkaidiot where Aamir would be updating his status frequently to interact with the fans. AamirKhan also conducted live chat with the fans over the same page to build momentum before thelaunch of the movie.

Radio: Many FM stations are encouraging their RJs to reach out to listeners using socialnetworks like Facebook, Twitter and Orkut building up a fan base for themselves and the FMstation. This helps the listeners to engage with their favourite RJs even after the airtime on the


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Radio. Moreover, the FM stations themselves have their fan page where the listeners can connectwith the station.

Films: More movies produced in local language to cater to regional audience a number ofHollywood and Hindi films have realised the potential of regional cinema and there have beenincreased instances of international Bollywood films being dubbed in other languages. A number

of English movies are now dubbed in local languages as they yield better returns than theEnglish version of the same.

Music Industry

Indian music industry is currently estimated to be Rs. 7.5 billion in 2009 as compared to Rs. 7billion in 2008 registering a CAGR of 8.5%. Music industry earns its revenue from five majorstreams namely, physical sales, mobile VAS, radio broadcast, online download and publicperformance royalty.

Total music industry would grow from current Rs. 7.5 billion to Rs. 26.5 billion in 2014. If thereis a favourable resolution of music royalty issue between the radio and music industry, it would

further give an impetus to this industry.

The major sources of revenue for a music company are sales from recorded music, i.e. cassettesand CDs and Royalties from licensing of rights to other music companies.

Cost of acquisition of licence/copyright in music forms a significant part of a music companyscost. The issue that arises is whether such cost would be entitled to depreciation at a specifiedrate or is in the nature of revenue expenditure deductible in the first year or is to be treated asamortisable over the period of licence. The Tax Authorities have been following differentapproaches in different cases. This has led to considerable uncertainty and litigation in thematter.

Animation Industry

Traditionally, Indian animation segment has witnessed significant growth on the back of high-end work outsourced from international studios complemented with increased demand ofanimated content in the film industry.As far as the animation industry is concerned, majority of the revenue from India is generatedfrom television (55%), which includes content made for broadcasting and advertisements. Therest is divided between movies (20%) and direct to DVD content (25%).

The reason behind such slender contribution from movies is because it is cost prohibitive forIndian film producers to produce full-length animated feature films. A typical animation movie

can cost approximately Rs. 100 million with movie production forming around 60-70% of thecost.


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Interestingly, many of the movies are now dubbed in various regional languages like Tamil andTelugu to cater to the local audiences. Dubbing has also given a fillip to the market forinternational films in India, especially in the animation genre. International studios enhance theircustomer base by dubbing movies in regional languages.

It is noteworthy to observe that the animation market is expanding due to dubbing, a trendsimilar to that witnessed in live action films.

Though Bollywood cuts across a range of genres like action, romance, drama and comedy,Indian animation films essentially continue to revolve around the mythological genre sinceIndians relate easily to mythology. Popular Indian animated films such as Bal Ganesh,Ghatothkach, that are based on mythological characters bear testimony to this fact.

Advertising:Chirpy and charismatic, animated characters are becoming increasingly popular for advertisingand brand promotions. Though, currently, the volumes are not on a large scale, the demand forthe same is accelerating.Animated ads cost about the same as live action commercials, but with faster turnaround time.

More animation movies are being created locally. Many projects were shelved or postponed andonly a handful of movies were released in 2009 due to recession. But with the financialconditions improving and with Bollywood displaying great interest in this sector (after thesuccess of some animation movies), a renewed enthusiasm has been noted in conceptualizingand creating content suitable to local taste. Studios have understood the importance of owningthe content and hence are looking to create new content, locally.

Growth in animation education segment: Several education institutes are trying to enhance theirlearning experience by providing education through animation.

The Ministry of Information and Broadcasting (MoIB) has decided to set up a National Centreof Excellence (NCoE) to support and augment the animation, gaming and VFX industry inIndia.


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Key challenges for the Animation Industryy Low Capital investmentsy Human capital requirementy Currently, there are not only just few schools in the country providing animation courses.

Slack awareness about the future potential of the animation sector mars the growth of thisindustry.

The Ministry of Human Resource Development (HRD) would need to focus on this issue if theindustry has to expand extensively in coming years.

VFX Industry

VFX comprises of computerized digital animation and process known as composition. It helpsproducers visualize the shots before they are taken, thus making the shot more effective and lessexpensive. Bollywood movies are pushing the Indian VFX industry on a high growth path.

Lowering the budget for a Bollywood movie is possible using VFX. With the growing popularityof VFX internationally, Bollywood movies are looking more and more towards utilizingsophisticated technology to provide a better viewing experience to the movie-watchers.

Radio Advertising Industry

By 2009 end, there were 248 radio stations operational in India. Further buoyancy is expected inthis industry as 700 additional radio stations are estimated to come up after the FM Radio phase-III auctions are concluded. This is expected towards the end of 2010.

Growth in Radio Listeners: Interestingly, a significant growth in listeners over the entire day andespecially during early morning (5am-7am) and late evening (9pm-12pm) periods has been seen.

At present, an annual license fee of 4% of gross revenues is payable by the entity having FMradio licence. A clarification may be provided by the Government to the effect that the licencefee would apply only to revenues from radio operations. Further, boost may be granted to the


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radio sector by charging licence fee on the basis of net income, as this would ensure collectionof annual licence fee only from those companies which are profit making and would providemuch required relief to radio players making losses and also give an impetus to the radio industryin general.

Internet Advertisement IndustryGalloping at a high speed, internet advertising was one of the fastest growing segments in theIndian E&M industry. Not as bogged down by the economic slump as its more expensivecounterparts, this industry leaped by 20.0% from 2008 to reach Rs. 6 billion in 2009. Thisforward march was further propelled by an increasing internet user base and broadbandexpansion.

Online players are getting into long term ad-sales contracts, allowing third parties to managetheir ad sales.

Key Challenges for the Internet Advertising Industry

y Lack of trust in online medium: According to a survey by the Indian internet and mobileassociation, 70% users feel that online information is misrepresented and inaccurate.

y Lack of proper measurement mechanism: There is a general distrust among advertisersregarding the effectiveness and reach of online advertisement. This results in loweradvertisement rates for online portals.

Source: IMAI

Print Circulation RevenuesCover price accounts for 15-20% of the revenues of newspaper players. For magazines, thispercent goes up to 50% as magazines are priced more than newspapers. Recently, quite anumber of new subscription schemes were launched to thwart the competition and hold ontothe existing customers.


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Magazines

There are around 141 million magazine readers in India, commanding a readership share of 28%.

A number of magazines such as Filmfare, Stardust, Cineblitz, etc. are popular totally because of

Film Industry.

Awards

Award Since Awarded by

Bengal Film Journalists'Association Awards

1937Bengal Film Journalists' Association Awards,Government of West Bengal

Filmfare AwardsFilmfare Awards South

1954 Filmfare

National Film Awards 1954 Directorate of Film Festivals, Government of India

Dadasaheb Phalke Award 1969 Directorate of Film Festivals, Government of India

Star Screen Awards 1995 STAR TV (Asia)

Kerala State Film Awards 1968 Government of Kerala

Zee Cine Awards 1998 Zee Entertainment Enterprises

Asianet Film Awards 1998 Asianet

IIFA Awards 2000 International Indian Film Academy

Other awards include the International Tamil Film Awards, Bollywood Movie Awards, theNandi Awards, Global Indian Film Awards, Stardust Awards, Apsara Film and TelevisionProducers Guild Awards.


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Institutions

Several institutes, both government run and private, provide formal education in various aspectsof filmmaking. A few of them include:

y Centre for Advanced Media Studies, Punjabi University, Patialay Film and Television Institute of India, Puney Satyajit Ray Film and Television Institute, Kolkatay Whistling Woods Internationaly Asian Academy of Film & Televisiony KIIT School of Film and Media SciencesOrissa

Shooting Locations

In Film City, a 500-acre (200-hectare) wonderland of fake mansions, poverty-stricken villages,

schoolhouses, and police stations on the outskirts of Mumbai, where many of the big -budget

Bollywood films are shot. This place is a source of income for many people.


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Case Study

A visit to the Rambha theatre in Trichy, CBS after the release of the movie Endhiran showed thefollowing data:

Price of each ticket: Rs 275Money earned in 1 show: Rs 1,70,000Number of shows in a day: 4

Profit of 1 day= 4 * 170000 = Rs 680000Number of days of the week, the movie was screened in the theatre: 7

Date of release of movie: 1st October

Profit of 15 days (houseful shows): 680000 * 15 = Rs 1,02,00,000

Management research on Film industry

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Transcript of Management research on Film industry