Industry debates the possibility of 1000 crore hits in India at FICCI
We Are An Underscreened Market: Siddharth Roy Kapur
The ongoing 14th chapter of Asia’s foremost Conclave on Media &
Entertainment – FICCI FRAMES, today hosted a session on ‘Planning and Making a 1000 crore blockbuster’.
The big names from the content providing business who participated in the panel discusion included Greg Foster, Chairman & President, IMAX Entertainment, Vijay Singh, CEO, Fox Star Studios, Siddharth Roy Kapur, MD, S tudios, Disney UTV, Ajay Bijli, MD, PVR, and Vikram Malhotra, Chief Operating Officer, Viacom 18 Motion Pictures. The panel discussion was moderated by Karan Johar, Co-Chair, FICCI-Media &Entertainment Committee.
Vikram Malhotra, Chief Operating Officer, Viacom 18 Motion Pictures, “Setting up a target of Rs 1000 crores per movie is very ambitious and aspirational.Today the audience has still not exceeded 4.5 crores, with the potential of reaching an addressable audience of 30 crores. So this is a hittable target. With better content and experience, I believe we can achieve the 1000 crore mark.”
Siddharth Roy Kapur, MD, Studios, Disney UTV added, “We are an underscreened market, with a state like UP with a population 18 crore has only 150 screens. Also with regressive regulatory policies like in the case of the cap on ticket prices, entertainmnet tax and the language barrier, the 3 main things that I think can help in the making a 1000 crore blockbusters are- Content, infrastucture and regulation.
Commenting on the distribution aspect, Ajay Bijli, MD, PVR, “Multiplexes are still an urban concept, but the appetite to watch movies is spread across India. But the regulatory environment is the main obstacle in achieving the 1000 crore mark.”
Giving a global perspective on the subject, Greg Foster, Chairman & President, IMAX Entertainment added, “ I am pleased to let you know your country is on fire overseas. With agencies and studios opening up in India, the focus on india is on the rise. While aiming for the 1000 crore mark, quality has to drive everything including filmmaking, visual effects, signing ,exhibition, etc.
Greg also announced Imax’s association with Yash Raj Studio for additional release of Dhoom:3 next year.