Indian market looms large on Hollywood map

NEW DELHI: With Indian audiences lapping up Hollywood blockbusters, big studios are charting strategies and line-ups to cash in on this growing market in the new year.
With over Rs 250 crore in ticket collections in 2004, India emerged a "priority market" for Hollywood studios. Spiderman 2 grossed over Rs 35 crore last year, the second highest English grosser in India after Titanic, which made over Rs 50 crore.The English movie market is growing at 35% in India, which now ranks 15 in theatrical collections made by Hollywood studios.
The year 2005 will witness sequels and remakes. A slew of epic dramas will hit the theatres: Batman Begins, Star Wars Episode III, King Kong, Harry Potter and the Goblet of Fire, Hitch, Miss Congeniality 2, Mr and Mrs Smith, and The Chronicles of Narnia among others.
The year''s book adaptations include Arthur Golden''s Memoirs of a Geisha, Spielberg''s take on H G Wells''s War of the Worlds and Roald Dahl''s Charlie and the Chocolate Factory. On original plotline front, there''s Dream Works'' Madagascar, animated comedy from makers of Shrek.
"We may not have a Spiderman, but we have a good line-up from Sony and Disney. We have strong movies like XXX2, Legend of Zorro, and Herbie: Fully Loaded among others," said Uday Singh, MD, Columbia Tristar Films of India.
Over 70 movies are slated for release and studios have taken a call on simultaneous global release. This is in contrast to most in Bollywood, where there is little planning for the 250 movies lined up for 2005.
Columbia Tristar officials said it grossed over Rs 100 crore in theatrical collections in 2004. "We made the highest profit in 2004 after setting up business in India. Big Hollywood studios have improved their performance here," said Singh.
Other big studios, like Warner Bros, are bullish on Indian operations and officials have made it clear that they are in the country because it is a profit centre.
"There is quantum leap in English movie releases in India. 2005 looks cool with blockbuster releases," said Tushar Dingra, V-P, PVR Pictures. "We have low screen count, but market is maturing and cash flow is getting transparent."
Dingra said new multiplexes would further boost theatrical collections. "We will have 70 screens by end of this year, up from 39."
Delhi continues to be the biggest grosser for English films, followed by Mumbai. However, tier-2 cities in South India gross high figures compared to counterparts in rest of the country.
Ficci''s S Dasgupta said Bollywood needs lot of catching up with regard to contracts, bonds and insurance procedures.