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But then, terror attacks or no terror attacks, one cannot disregard the fact that it is purely the global economic slowdown that has resulted in the overseas rights of films getting hurt massively. Vikas Sahni, noted Mumbai based film agent, reveals, “People have either stopped buying overseas rights or are very cautious about it. Companies like Neptune, CA corporation, Venus et al have bought no overseas rights for a Bollywood movie in past few months.” Even Eros has stopped buying rights for new films as of now. And that is surely a big hit, given that some so called ‘intellectual’ movies (or multiplex draws) do badly domestically, yet make up big time overseas – Siddharth Roy Kapur, CEO, UTV Motion Pictures, confirmed to us, “The industry has become quite reliant on such sales to make movies payoff.”

Industry veterans like Sajid Khan, Imtiaz Ali and veteran journalists like Rauf Ahmed share with us that this situation may be beneficial for the industry in the long run as a lot of non-serious filmmakers, who got into the business just for the heck of it, will be discouraged now. Imtiaz adds, “This will also lead to price corrections resulting in tighter budgets and huge slash in talent fees.” UTV’s Kapoor confirms, “We are already working out with all the partners in the value chain (including directors and actors) on how to make costs more rationalised.” Sanjay Dutt, Akshay Kumar, no name is big in the latest move to ‘rationalise’ actor fees. Connected to these are collection estimates. “The kind of collection figures that have been put out by producers in the past, the kind of numbers actors displayed as their fee worth, is unrealistic and unreliable in terms of current viability,” feels Nandy.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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