India produces the maximum number of films every year, but in terms of revenues generated, it contributes only a small percentage of the global film revenues.
India’s contribution from films is under 7 percent of the global film revenues, revealed Ministry of Commerce and Industry in India
The Indian government, aware that there’s a huge opportunity, is keen to improve in this area; the global revenue from film (by 2020) is expected to be about $50 billion.
Experts have suggested that certain steps be taken in the short term.
- Increase the number of digital screens in the country (add at least 20,000 digital screens in India in the next few years).
- Tackle piracy, especially the offending websites that are hosted on foreign countries. This could be addressed with more digital screens and “negotiations with other countries.”
- Until a few years ago, Indian films were quite popular in foreign markets. However, due to several reasons, one of them being – subtitling nor dubbing not happening – the market has virtually eliminated. The ministry is keen to work with the film industry in this regard, if producers and distributors take the initiative.
In India, there are currently about 180 million TV households, close to 2000 films produced annually and about 330 million plus internet users, of which 200 are mobile internet users. With a high percentage of young population, the M&E sector is poised to fly. We just have to build on our successes in order to generate more revenues.