 "Rs 1k-cr film next milestone: Experts")
Film industry experts on Wednesday said producing a Rs 1,000-crore movie was going to be the next milestone for Bollywood.
“Setting up a target of Rs 1,000 crore a movie is very ambitious yet aspirational. Today, the audience has still not exceeded 45 million, while the potential is of reaching an addressable audience of 300 million. So, this is an achievable target. With better content and experience, I believe we can achieve the 1000 crore mark,” said Vikram Malhotra, Chief Operating Officer, Viacom 18 Motion Pictures.
Malhotra was speaking at a panel discussion, ‘Planning and Making a 1000 crore blockbuster’, at the ongoing FICCI FRAMES here. Other panellists included Greg Foster, Chairman & President, IMAX Entertainment, Vijay Singh, CEO, Fox Star Studios, Siddharth Roy Kapur, MD, Studios, Disney UTV and Ajay Bijli, MD, PVR. The panel discussion was moderated by Karan Johar, Co-Chairman, FICCI-Media & Entertainment Committee.
One of the major concern remains a low screen ratio. As per KPMG, there are only 8 screens in India per 1 million population.
“We are an under-screened market. In a state like Uttar Pradesh, with a population 180 million, there are only 150 screens. Also, there are regressive regulatory policies like cap on ticket prices, entertainment tax and the language barriers,” said Kapur.
However, he noted that the three main things that could help in the making of a 1000 crore blockbuster were content, infrastructure and regulation.
“Setting up a target of Rs 1,000 crore a movie is very ambitious yet aspirational. Today, the audience has still not exceeded 45 million, while the potential is of reaching an addressable audience of 300 million. So, this is an achievable target. With better content and experience, I believe we can achieve the 1000 crore mark,” said Vikram Malhotra, Chief Operating Officer, Viacom 18 Motion Pictures.
Malhotra was speaking at a panel discussion, ‘Planning and Making a 1000 crore blockbuster’, at the ongoing FICCI FRAMES here. Other panellists included Greg Foster, Chairman & President, IMAX Entertainment, Vijay Singh, CEO, Fox Star Studios, Siddharth Roy Kapur, MD, Studios, Disney UTV and Ajay Bijli, MD, PVR. The panel discussion was moderated by Karan Johar, Co-Chairman, FICCI-Media & Entertainment Committee.
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The experts also discussed the various obstacles in achieving the Rs 1000 crore mark.
One of the major concern remains a low screen ratio. As per KPMG, there are only 8 screens in India per 1 million population.
“We are an under-screened market. In a state like Uttar Pradesh, with a population 180 million, there are only 150 screens. Also, there are regressive regulatory policies like cap on ticket prices, entertainment tax and the language barriers,” said Kapur.
However, he noted that the three main things that could help in the making of a 1000 crore blockbuster were content, infrastructure and regulation.