Bollywood Industry to rise sky-high, expecting to earn $3.7 billion in 2020

Bollywood Industry to rise sky-high, expecting to earn $3.7 billion in 2020

Who do you think is soaring higher than the birds coming year? It’s none other than the Indian film industry, whose earnings are expected to rise to $3.7 billion, which is 25000 crore when translated, says a Deloitte Indywood report.

This exclusionary insight about the future of the Indian film industry was brought to the people at the Indywood Film Carnival held at Ramoji Film City in 2016. And, since 2020 is approaching, we are curious to witness how true were the estimations which were made back then by the Indywood.

The Indian film industry happens to be the largest amongst all the film industries around the globe, with a production rate of 1500-2000 films produced each year in varied languages.

The true figures which the reports conveyed were that, in 2016, the box office had a gross income of $2.1 billion, which is envisioned to have a growth of 11 percent CAGR, scaling up to $3.7 billion in the year 2020.

The major fallout observed in the reports was, irrespective of the fact that the Indian Film Industry makes the most number of films every year, the gross realisations happen to be considerably lesser than its competitors. Countries like US and Canada, which produce 600-800 films every year, make around $11 billion. This statistics throw a light on a dark truth.

It’s expected, what links to the above results might be encircled and thus influenced by the factors like piracy, extensive layers of bureaucracy, intricate tax regime, minimal growth in Average Ticket Price and most important of all, stringent censorship rules.

Talking about more insights which the reports provided are concerned to cable and satellite rights, inclusive of online as well as digitally collected revenues. They had foreseen it to have a growth of around 15% in between 2015-2020.

The Indian film industry comprises of many other film industries but is dictated by Bollywood, where it contributes 43%  with the rest of the contributions made by the regional film industry.

The major counterparts are chasing pretty well, though currently they form only a  little section. With increase in the number of English speakers in India, a huge number of International movies have gained recognition and have been dubbed and released in the country.

It was conveyed by the report, that, the critical key growth escalators for the film industry are acceptance towards diversification leading into international genre, heading towards the realisation of digitisation, growth in per capita income, rising middle class population and use of Visual Effects and other significant technologies.

Such reports are a result of hefty amount of research and should be made once in a while to aim to head towards the centralization of the growth in gross realisations. A deeper study and understanding of the Indywood report would help the Indian Film industry rise it’s Film Business substantially.

 

Instagram

Instagram has returned invalid data.

Archives