By K Ashwin Mob: 09920183006 E-mail: email@example.com
With the weakening rupee and failing investor sentiment, what’s the impact on the Hindi film industry? That’s the big question on Business of Bollywood this week. The answer lies in the dynamics of movie business that is governed by multiple factors explored by a distinguished panel of guests on the show, this Sunday at 7.30pm on zoOm.
Amidst fears of more bad news on the economic front, filmmakers seem to have realized that the big picture isn’t all that gloomy after all. Guests on zoOm’s show Business of Bollywood’s special debate, made a compelling case for how the currency devaluation could mean a mixed bag for B-town.
While overseas travel, shoot and promotions would obviously pinch more, the returns on that investment through ticket sales automatically stands to fetch more.
“All factors of filmmaking like promotions or any kind of expenses made overseas or in foreign currency are going to get affected,” warned COO of Viacom 18 Motion Pictures Ajit Andhare. But in the same breath he was also quick to dismiss these losses by pointing out towards the ability of Bollywood to become a form of escapism for the audience. “It is observed that in times of stress people usually find refuge in entertainment,” Andhare declared.
Adding to Ajit’s observation, Anchor and Editor of the show Brand Equity on ET NOW, Sonali Krishna said that research showed an increase in spending on entertainment during difficult economic times.
Actor-turned-producer John Abraham who has produced films like ‘Vicky Donor’ and ‘Madras Café’ sounded a positive note saying, “Shooting at a foreign location has become difficult, but if you are getting overseas returns on your film then it is good because converting that amount into Indian Rupees will fetch more value now.”
FarhanAkhtar had an even more optimistic take. “On the recovery grounds you earn more than you invested since you are converting the dollars and the pounds into Indian rupees,” pointed out Farhan.
Meanwhile, concerns like foreign talent becoming more expensive were also met by positive views. “Foreign artists that the industry hires are paid in Indian rupees and not dollars, so the deal doesn’t really depend upon the increase or decrease of the dollar,” said recently turned producer, actor DiaMirza.
So even as the Rupee continues its downslide, the cash-rich Bollywood industry that accounts for one of the biggest forms of entertainment across India’s diverse populace, seems adequately geared to battle this sudden economic change.
Catch the full debate on Business of Bollywood this Sunday, 7.30pm on zoOm – India’s No.1 Bollywood Channel.
zoOm, India’s No. 1 Bollywood channel, and a trendsetter in its genre, brings viewers closer to the biggest stars through the hottest entertainment news, features, countdowns, music, trends, celebrity interviews and reviews. zoOm is available across 28 countries worldwide besides heavy presence in the social media space making it the one stop shop for everything related to Bollywood.
About Times Television Network:
Times Television Network is part of India’s largest media conglomerate, The Times Group. It houses upscale brands including ET NOW – India’s No. 1 Business News channel; MOVIES NOW – India’s leading English Movies channel; ROMEDY NOW – a unique destination for Love and Laughter; TIMES NOW – India’s No. 1 English News channel; and zoOm – India’s No. 1 Bollywood channel. The network delivers segmented and differentiated content under one umbrella. It informs, entertains and engages over 100 million urban affluent viewers in India and is available in 45 countries across the globe.