Bollywood continues to grow as revenues likely to cross Rs 19,300 cr by 2017
A joint study conducted by ASSOCHAM and Deloitte has found that revenues from Bollywood, the Hindi film industry are expected to cross Rs 19,300 crore by next fiscal. This is because of the aggressive marketing campaigns, growing contribution from overseas markets and improved quality of movies. The current estimated size of Bollywood is about Rs 15,500 crore.
This is also because of the increasing number of multiplexes and continual digitisation. According to the study, “Box office collections in India that are estimated at over Rs 11,500 crore are likely to cross Rs 14,200 crore mark by 2017 and will account for about 74 per cent of the majority of Bollywood revenues”. Also, the industry’s revenues from overseas box office collections are likely to cross Rs 1,300 crore from current size of about Rs 1,100 crore, it said.
The study has said that due to the rising demand for movies on TV along with growing penetration of smartphones across the country will spur growth in cable and satellite rights. The online and digital aggregation revenues are likely to grow at a compounded annual growth rate of about 15 per cent till 2017.
The study also mentions the increasing popularity of the regional movies in India and abroad. Cinema in southern India especially Tamil and Telugu may soon dethrone Bollywood from the top spot which accounts for 43 per cent share in terms of box office collections by language.