Business Trends of Bollywood Movies 2008 (Part-1)
The year 2008 has been an eventful year for Bollywood, the famous Indian movie industry. Many movies were released throughout the year. Some of them did bad, some mediocre, and some poorly. Here is a look at the business of Bollywood in 2008.
One of the biggest trends in Bollywood in 2008 was that many movies had worldwide release. Big budget Bollywood movies enjoyed large amount of screening in overseas. Is it a positive thing? Yes, it is. Thanks to the rising number of non-residential Indians living in USA, UK, and other countries around the world. Moreover, people of other Asian countries like Pakistan, Bangladesh also like Bollywood movies. Singh Is Kinng one of the highest grossing movies of 2008 enjoyed huge sucess in Pakistan, UK, and USA. In Pakistan, the movie collected Rs. 20 million.
Another positive thing I saw in 2008 was that more and more Hollywood movie studios are showing interest to invest in Bollywood. The Indian movie market is flourishing and the country has a huge population. According famous accounting firm, PricewaterhouseCoopers, Indian movie industry would grow double in size in the next four years and would generate around $4.5 billion per year. No wonder, this is an ideal place for investment for Hollywood studios. In 2008, Yash Raj Films joined with Walt Disney to produce its first animated movie, Roadside Romeo. In 2007, Sony Pictures Entertainment became the first Hollywood studio to produce a Bollywood movie. The movie titled Saawariya was jointly produced by Sony Pictures and Sanjay Leela Bhansali Production. Then there was Saas, Bahu Aur Sensex, distributed by Warner Bros in 2008. In January 2009, Chandni Chowk to China was released. This is the first Hindi movie produced by Warner Bros. Warner Bors. Pictures also signed a three movie deal with People’s Tree Film in December 2008. Big Entertainment, the entertainment arms of Reliance Industries, signed a 36 movie deal worth $1.2 billion with Steven Spielberg’s DreamWorks SKG. Vipul Amrutlal Shah, who produced Singh is Kinng, was signed up by Fox Star. Things are turning out great for Bollywood movie industry. In 2009 and coming years, we would see more Indian movies produced by Hollywood studios.
The year 2008 saw several big budget movies. In 2008, Yash Raj Films, one of the top production houses of Bollywood, produced for feature films and one animated film. They are: Tashan, Thoda Pyaar Thoda Magic, Bachna Ae Haseeno, and Rab Ne Bana Di Jodi andRoadside Romeo. Then there are movies like Love story 2050, Drona, Kidnap, Mission Istanbul, God Tussi Great Ho, Chamku, Money Hai toh Honey Hai, Ghajini, Singh Is Kinng, Race, Jodha Akbar, Golmaal Returns, Dostana, and Sarkar Raj. Some of these movies did poorly at the box office. For example, Kidnap starring Imran Khan and Minissha Lamba did not do very well. The movie had a very weak story. Then there was God Tussi Great Ho starring Salman Khan and Priyanka Chopra. The movie was a rip-off of Bruce Almighty. Salman Khan’s other movie Yuvvraj, which was released by Subhashi Mukta Arts was another horrible rip off of Rain Man. Harman Baweja and Priyanka Chopra starrer Love Story 2050 has already been labeled as one of the worst movies of 2008. A sci-fi, the movie had lots of special affects and the producer spent heavily on marketing but it did not see success.