Revenues in the Hindi film industry are likely to cross Rs 19,300 crore by next fiscal, owing to aggressive marketing campaigns, growing contribution from overseas markets and improved quality of movies, says a joint study conducted by Assocham and Deloitte.
The current estimated size of Bollywood is about Rs 15,500 crore. The Increased number of multiplexes and growing digitisation in the industry are also contributing to the rise in revenue. "Box office collections in India that are estimated at over Rs 11,500 crore are likely to cross Rs 14,200 crore mark by 2017 and will account for about 74% of the majority of Bollywood revenues," said the study, adding “The industry's revenues from overseas box office collections are likely to cross Rs 1,300 crore from current size of about Rs 1,100 crore.”
Rising demand for movies on TV along with growing penetration of smartphones across the country will spur growth in cable and satellite rights. Online and digital aggregation revenues are likely to grow at a compounded annual growth rate of about 15% till 2017, it said. "Large national producers plan to spend 20% of their annual budgets on regional cinema," it said.