Even though there is global financial and credit turmoil going on, Hollywood production studios entry into Indian film industry continues unabated. The latest to join the bandwagon includes Fox Star Studios, a JV between Twentieth Century Fox and Star, who have entered into a multiple-film deal with producer and director of the latest blockbuster film ‘Singh is King’ Vipul Amrutlal Shah. 'Singh Is King' released in August, starring the current most bankable star ‘Akshay Kumar’ went on to cast its magic all over India as well as in foreign countries, including neighboring Pakistan. The movie also is considered to have got the biggest opening ever for a Hindi movie with a global box office figure of $16.1mn. Shah has also directed hit films earlier which include Namastey London, Ankhein and Waqt.
The deal includes the development and production of an action movie and a romantic comedy and a first look deal on Shah’s future projects. The visual film effects event film will be supported by a team of top visual effects directors from Hollywood and supervised by Fox’s multiple award-winning in-house visual effects team. Vipul Shah said that these kinds of associations are the future of Indian cinema and the Indian film makers should team up with the best technical and creative talent from around the globe while yet keeping the Indian soul in the films. The director is now working on Salman Khan and Ajay Devgan starrer 'London Dreams,' again one of the biggest films in the line up for 2009.
The deal follows similar deals by leading Hollywood production houses viz. Walt Disney and Sony Pictures Entertainment that have struck similar production deals in India. Disney is producing a Bollywood version of its High School Musical film while Sony recently released Saawariya, its first stab at a three-hour Bollywood epic. With growth slowing in the US film industry, Hollywood studios are looking to new markets such as India, South Korea and Russia. The main reason for more companies looking towards the Indian film Industries is due to the expectation that Indian film industry will double in size over next five years, that is from $2.4 bin in 2007 to $4.4 bn in 2012.
An exception to this trend has been Anil Ambani, which recently was covered by Indiabusinessbazaar last month, he has gone westwards, inking a $1.5 bn deal with Steven Spielberg’s Dreamwork’s.
Reliance Big Entertainment hits it BIG
The deal includes the development and production of an action movie and a romantic comedy and a first look deal on Shah’s future projects. The visual film effects event film will be supported by a team of top visual effects directors from Hollywood and supervised by Fox’s multiple award-winning in-house visual effects team. Vipul Shah said that these kinds of associations are the future of Indian cinema and the Indian film makers should team up with the best technical and creative talent from around the globe while yet keeping the Indian soul in the films. The director is now working on Salman Khan and Ajay Devgan starrer 'London Dreams,' again one of the biggest films in the line up for 2009.
The deal follows similar deals by leading Hollywood production houses viz. Walt Disney and Sony Pictures Entertainment that have struck similar production deals in India. Disney is producing a Bollywood version of its High School Musical film while Sony recently released Saawariya, its first stab at a three-hour Bollywood epic. With growth slowing in the US film industry, Hollywood studios are looking to new markets such as India, South Korea and Russia. The main reason for more companies looking towards the Indian film Industries is due to the expectation that Indian film industry will double in size over next five years, that is from $2.4 bin in 2007 to $4.4 bn in 2012.
An exception to this trend has been Anil Ambani, which recently was covered by Indiabusinessbazaar last month, he has gone westwards, inking a $1.5 bn deal with Steven Spielberg’s Dreamwork’s.
Reliance Big Entertainment hits it BIG
Posts
No comments:
Post a Comment