Entertainment industry shows 17 per cent growth

BOOM-TIME: A PricewaterhouseCoopers report has mapped the annual growth of Indian cinema.

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Mumbai: The Indian film industry is booming but now there are finally some figures to prove it.

The Annual FICCI Frames meet kick-started in Mumbai on Tuesday with the annual growth report on the entertainment industry’s performance.

The report, produced by Price-Waterhouse-Cooper threw up some interesting figures including the fact that revenue from Indian cinema has grown by 17 per cent between 2004-2007.

The overseas box-office share stands at an incremental 9 per cent for the same period and the home video market has shown exponential growth to the tune of 30 per cent.

Experts believe that the integration of ancillary sources of revenue and the growing acceptance of Hindi cinema abroad is responsible for this collective change.

"More and more overseas markets like Mauritius, China,Japan, Korea are being explored with each passing year,” said filmmaker Yash Chopra.

"I think the market revenue is getting divided in an even manner. Be it home video or be it theatricals, the viewership is expanding,” producer Bobby Bedi pointed out.

The report also reflects an interesting forecast of a drastic reduction in the domestic box-office share in the future by as much as 70 per cent. Yet, with an entire ancillary world of cable and DTH TV, out of home video and radio plus internet film-based content rapidly developing, Bollywood's global reach is set to expand business and markets substantially.