Foreign films contributed $60 mn to Indian economy in 2008-2009
By IANSFriday, March 19, 2010
NEW DELHI - Hollywood and other international films contributed about Rs.304 crore ($60.8 million) to India’s economy in 2008-2009 and this is expected to steadily rise, says a new report.
Titled Economic Contribution of Indian Film and Television Industry, the reports was launched here Friday. It has been prepared by consultancy firm PricewaterhouseCoopers (PwC) and was commissioned by the Motion Picture Distributors Association (India).
According to the report, the total direct economic contribution of the US and international film industry in India is estimated at Rs.147 crore vis-a-vis an economic impact of Rs.304 crore.
Some of the movies that proved to be trend-setters here last year are 2012 and Avatar with overall collections grossing over Rs.100 crore each.
Both films released in English, Hindi, Tamil and Telugu in both urban multiplex cinemas and traditional single screen cinemas in small towns and villages.
“Avatar also heralds the trend for viewers to pay higher prices for a 3D movie experience.
The report also highlighted another trend - the release of children’s films by US and international studios in India during the summer season and their success at the box office.
Last year, the two biggest earners of Hollywood for the Indian summer were Harry Potter & the Half Blood Prince and Night at the Museum: Battle of the Smithsonian. Both grossed about Rs. 20 crore and Rs.4 crore respectively in financial year 2009.
The study measures the direct, indirect and induced economic impacts created by the film and television industry, and combines them to determine the industrys total economic contribution.
The Motion Picture Distributors Association (India) Pvt. Ltd. (MPDA) is a wholly owned local office of the Motion Picture Association, and represents the interests of the American motion picture industry in India.
