Reconfiguration of the Indian Film Industry During the COVID-19 Pandemic: The Enablers and the Impeders

Reconfiguration of the Indian Film Industry During the COVID-19 Pandemic: The Enablers and the Impeders

Selvalakshmi M, Kabila RM
Copyright: © 2022 |Pages: 10
DOI: 10.4018/978-1-7998-8678-5.ch011
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Abstract

The Indian film industry has consistently performed well across years and has emerged as the largest in the world in terms of the number of movies it produces annually. However, the year 2020 presented a crude shock to the prospects and promises of the industry. The catastrophic effect of the pandemic in the year 2020 led to the drop in the global box office by as much as 72% with a mere $12 billion collections across the world in the form of ticket sales. To understand the factors facilitating the Indian film industry to go beyond theatres during the pandemic and to explore the key challenges faced by the industry in light of its advancement, secondary data was collected from available publications, industry reports, and official websites of various bodies. The chapter aims at exploring the factors which contribute to the recent trends of the Indian film industry, attempts to identify the new and emerging challenges that plague its growth and how this transition can speed the recovery of Indian film industry as this would provide ample input to the various stakeholders of the industry.
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Backdrop Of The Indian Film Industry

The catastrophic effect of the Pandemic in the year 2020 lead to the drop in the global box office by as much as 72% with a mere 12$ billion collection across the world in the form of ticket sales (2020 Theme Report- Motion Picture Association)

FIGURE 1.

2020 top 15 global box office markets- all films (US$ Billions)

978-1-7998-8678-5.ch011.f01

Indian film Industry’s origin dates back to nineteenth century with the first film being made in 1913 by Dadasaheb Phalke, acclaimed as the father of Indian cinema (Selvalakshmi etal, 2019) With the phenomenal growth of the industry since then, the industry evolved as a global enterprise with established markets in well over 90 countries and has been respected more for its business than Art. Indian film industry serves as the world’s second movie capital next only to Hollywood with South Indian film industry comprising of Tamil, Telugu, Malayalam and Kannada accounting for more than 50% of the films produced (Murthy, 2013). Block buster movies such as Dangal and Bahubali II released in the year 2017 had successfully garnered a turnover of $15 billion, all across the world and running forward towards achieving record $20 billion. The Industry has been acknowledged for its diversity by reputed Hollywood directors (Murthy, 2015) and has gained the confidence across years in the world market that it can no longer be treated as marginal. (Raju, 2016)

The industry turnover crossed $1.2 billion in 2010, hovered around $2 billion in 2015 and is projected to grow steadily to $2.8 billion by 2020 (FICCI KPMG Report, 2017) While the revenue from the global movie box office was hovering around 42.5 billion dollars in 2019, Indian film Industry crossed its 10,000 crore (100 billion dollars) mark seeing a growth of 11.6% overtaking the previous year1. Due to the devastating effect of the pandemic, the year 2020, the industry turnover managed to close at $2.5 billion and has seen a turnover of $8.3 billion in 2021 (Statistica, 2021)

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