Siddharth Roy Kapur
CEO, UTV Motion Pictures
The Indian film industry has come a long way in its almost century long journey. Today it is the biggest movie industry in the world in terms of the number of films produced across all languages. It has established itself as a bonafide industry and is beginning to get duly recognized as one, albeit in fits and starts. With the huge global spread of the South Asian diaspora and the growing idea of Brand India, it has made inroads in the international market, with our movies now being released in more than 50 countries around the world.
But make no mistake. The Hindi film industry today is at a crucial juncture that will define the next phase of growth for the business - both creatively and commercially.
Some of the key factors that will have an impact on the future of the business are:
- The advent of the multiplex culture and the digitalization of cinemas, completely changing the dynamics of the theatrical business for audiences, exhibitors, distributors and producers.
- The entry of a new breed of publicly funded Indian studios and the consolidation of the distribution sector
- The entry of Hollywood studios into the local production sector
- The ever changing external dynamics within other industries that impact ancillary revenues - key among them being satellite, music and home video rights, amongst others
- The emergence of new technologies and new platforms that have and will transform the way movies are watched the world over
- The increasing contribution to the revenue pie from the South Asian diaspora overseas
- The malaise of physical and online piracy, and the huge dent to overall revenues caused by it
- The increasing role that marketing and PR play in aggressively driving a film through the "media noise corridor" right from pre-production all the way to release and beyond
- And finally, the emergence of a bold new generation of film makers, uniquely influenced by a mix of Hollywood, Bollywood and world cinema, with their creative choices informed by the incredible sociological changes they have witnessed growing up during India's transition from a socialist to a liberalized state.
For anyone involved in the movie business in India today, it is both an exciting and yet a challenging time. Exciting because there are so many moving parts today in the movie business that the sheer adrenalin of navigating through them and achieving commercial and creative success can give you an addictive head rush. Challenging because the choices we make today as an industry could determine the trajectory for a whole future generation of studios, filmmakers, actors, technicians and audiences.
So grab your popcorn and enjoy the show!