No Money no ilm; no film no money. Bollywood is in a tough spot.
Lacking financing, India's movie producers are unable to finish and market their films. It could mean as many as half of the films scheduled for release this year won't make it, industry officials say.
The resultsspeak for themselves. Bollywood, an industry that generates annual global revenue of above $2 billion, has released only about 20 magor films so far this year. that is down from about 100 for the same period in past years, estimates UTV software, a large movie production and distribution company.
Without these blockbusters, ticket buyers are staying home. Cinema occupany in India has dropped to 40 % from as high as 60 % at the end of 2007, analysts estimate.
So the film industry is being forced to change the way it does business. Song and dance routines may be less flashy. And massive upfront salaries for film stars actors' pay accounts for nearly half of a film'stypical budget are out.
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