Click to play videoMumbai: Multi-crore budgets, multi-crore film deals with multi-crore acting fees, Bollywood was booming and but now thanks to the economic depression it looks like it's time for a reality check.
Though with the number of recent hits at the box-office the industry itself is not in any kind of an economic crisis, a correction in the inflated budgets and fees that were bandied about is definitely due.
"The inflated figures will slowly be more realistic but the meltdown as such will not affect us" says producer, Ritesh Sidhwani.
Even as the box-office is on a bull run, the rupees 51,300 crore worth entertainment sector is bound to witness a slowdown. The sector which includes traditional and new-media filmed entertainment, television distribution, radio, music, gaming and animation may no longer see the 17 per cent growth rate projected in 2007.
So expect budgets to get tighter and astronomical star prices to lower into something realistic.
"There will be price fee rationalisation, looking at the current market conditions,” says CEO, UTV Motion Pictures, Siddharth Roy Kapur.
"For the bigger players, big pictures rake in lot of money, they have to re look at their strategy for backing mid and small sized films, because they might not bring in much revenue,” says MD, Percept Picture Company, Shailendra Singh.
In effect there will be fewer releases in 2009, the sale of satellite rights of films, ring tones will dip and producers believe the production of 'risky' alternate projects may be put on hold, with only time-tested, hit formulas getting the green light.
One has to wait and watch if the economic slowdown eventually lead to creative depression in Bollywood town.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
More on IBNLive Right Now
MOST SHARED
PHOTOGALLERY
