Mumbai: The Indian film industry is the largest in the world in terms of number of films produced with between 1,500 to 2,000 films produced every year in more than 20 languages.
In terms of revenue, the industry has gross box office realisations of $2.1 billion which is expected to grow at 11 per cent CAGR reaching $3.7 billion by 2020, Deloitte Touche Tohmatsu India LLP (DTTILLP) has released the report on the Indian Film Industry at the on-going Indywood Film Carnival in Hyderabad.
Despite the large number of films produced in India, the industry gross realisation has been substantially lower than its global counterparts.For example, the box office realization in the US and Canada stand at $11 billion whereas these countries produce which produces a significantly lower number of films (approximately 700 films).
The domestic box office contributes a majority of the revenue, representing 74% of the total industry.Cable and satellite rights and online/digital aggregation revenues are the fastest growing segments, and expected to grow at a CAGR of about 15 per cent over the period FY15 – FY20.
Further, the Indian film industry is dominated by Bollywood, the Hindi film industry, contributing 43 per cent of the revenue while the regional films contribute the remaining 57 per cent.
International films is currently a small, but growing, segment, driven by rising numbers of English (and other foreign language) speakers, as well as increasing numbers of international movies witnessing dubbed releases across the country. (UNI)
