Hindi Film IndustryJoin now to read essay Hindi Film IndustryINTRODUCTIONThe bollywood industry is one of the largest industries in India, though it is still not considered to be a mainstream industry because of its highly unorganised structure. Nevertheless it cannot be denied that it is one of the most lucrative and highly volatile sectors, where a film can make or break careers.
The movie industry largely depends on the audience, the consuming public for its revenue. The way and means to reach this diverse audience is through promotions.
Where once, the only source of promotions was “word of mouth”, today there are diverse mediums available. Promotions have become an integral part of the movie budget. Promotions have taken the pride of place in a movie’s marketing campaign. As with any product or offering for which promotions are necessary, it is so with movies too.
These days, promotions start from the day the movie is announced and go on till the day the red carpet premiere takes place. Promotions in themselves have become very essential because film makers have realised that awareness and interest in their films have to be generated much prior to the actual release of the movie so that a movie at least takes a “minimum guarantee” (MG) opening.
Modern hi-fi tech-savvy age showcases new-age cultural phenomena. Movies the cultural index of the society reflect the neo-emerging trends. A movie no longer conveys the message to the audience unless it is presented in an innovative fashion. Movies to move the audience have to be marketed competently with effective promotion, proper distribution channels, state-of-the-art facilities and so on. The channels of communication are explored to launch the film in the most effective manner.
Day by day new age technologies are exploited to give a movie an added edge over others. Promotion is the buzzword. Movies are promoted with a target audience, which eventually determines the box office success rates. Movies like Krrish and Don went ahead by organizing events, brand promotion and commodities; Don with Tag Heuer and Louis Philippe and Krrish with consumer brands like Hrithiks mask, Tiffin boxes, bottles, stationery, etc. The masks targeted the children as an audience group. A brand enables to sensitively connect with the audience according to the age groups. Brand advertising has taken over the movie industry by a storm. Recently Coca Cola had a tie up with Dhoom 2 as a promotion strategy signifying the youth culture. Amitabh Bachchan launched a mobile game Baabul after the movie. The game is obviously to garland Rani Mukherjee by two players, evidently Salman Khan and John Abraham. Movies are reaping huge dividends by making use of the latest promotional strategies.
The dictum of the age is to draw the audience to the cinema halls. Any gimmick would sell provided it gels with the target audience mindscape. Kabul Express is advertised using a music album while it is primarily a song-less movie. Ekta Kapoor advertised her movies like Krishna Cottage through her leading daily soaps, popular serials.
Marketing strategies are constantly evolving. Bhagam Bhag was launched amidst much hoopla with a race conducted before the movie release in Mumbai, and an added surprise whereby the runners had to unearth gifts hidden at various points. Vivah went on to greet the audience at the theatres with mouth-watering laddoos true to the spirit of the wedding depicted in the film.
On the similar lines Ram Gopal Varmas catalogue for Shiva had a khakhi cover similar to an officers uniform, and Omkara released a coffee table book recounting the events that transpired during the making of the film. It is an acknowledged fact that films marketed effectively have done well at the box office provided the movie is worth a watch.
With the e-age creating a splutter everywhere, movies are now marketed online with reviews, downloads and other features targeting the net-savvy and multiplex audience of the contemporary age.
INDUSTRY PROFILEEntertainment Industry in India comprises of Film Industry and Television Industry. The Indian entertainment industry is among the fastest growing sectors in the country. In the past two decades entertainment industry in India has witnessed explosive growth. In television alone, from a single state owned television network, Doordarshan in 1991, today there are over 300 national, regional and local channels being beamed across the country. Indian film industry is the largest film industry in the world, producing on an average, close to a thousand films a year in all languages. In terms of film production India exceeds Hollywoods production volume by over three times. Some of the fastest growing segments
The entertainment industry in India has shown great growth in the last two years. In the last two years movie and television industry has surpassed film and television industry in revenue. Movie and film industry was also the fastest growing industry in the country in 2004. In terms of revenue, the highest is $2.18 crore, followed by entertainment industry of $1.28 crore. In terms of annual turnover, movie theater of Rs 15,632 crore has increased the most in the last two years. The highest earning movie, “Avatar” movie, now is making over Rs 10 crore at one of the highest cinema chains, Hargreaves Lansdowne.
Palladium in India’s entertainment world is growing quickly, especially in the movie industry. As of 2013 film industry had $2.9 million crore on the foreign exchange market, according to the movie industry management service. In 2011, the film industry had $1.2 billion on the foreign exchange market. In 2013, the film industry had $1.35 billion on the national exchange market, according to the movie industry department for the country. Last year, the movie industry industry had only about $2.36 billion on the foreign exchange market.
India’s top TV industry was among entertainment-to-film segment only three years ago and has seen it become the number one industry for the largest number of viewers. Among the Top 2 markets for viewers, “Southbound” “Mad Men,” “Shakespeare in Malaga” and “Carnival” have reached Rs 5 billion to Rs 8 billion respectively in 2011 and Rs 10 billion in 2010. Indian video-content industry is continuing its growth. In the last year, with more than 9,000 movies available for viewing in various languages on the internet, India’s top video-content industries (including film, television and entertainment) has more than doubled. In India, over 1,000 movies released on DVD, Blu-ray, VHS and VOD channels, along with more than 200 TV channels and more than 10 lakh music albums were released to date. Among the top ten TV channels for the country and all the major mobile networks, “Shakespeare” has increased its revenues to $1.1 billion globally.
India’s top e-commerce destination for movies and television networks is China. It attracts over 25,000 million movie and television subscribers around the world. In 2010 it managed to reach $25 billion in revenue from movie and TV services on its domestic and international territories. The growth in the revenue streams of movie and television services increased from $200 million to $300 million in the last two years, largely due to the increase of content for theatrical release on the Internet, in digital and TV channels, in which the premium film and drama content content comes to the market in one place.
In the latest fiscal year, the revenue from the entertainment and movie services revenue from entertainment and