Can Bollywood Go the Hollywood Way?
According to statista.com, the global film industry shows healthy projections for the coming years. While the global film industry had earned global box office revenue of $38 billion in 2016, it was forecasted to increase to nearly $50 billion in 2020.1
Hollywood
The US film industry, popularly known as Hollywood, is dominated by studios like Buena Vista, Disney, Sony, Warner Bros., 20th Century Fox, Universal, Miramax, Metro-Goldwyn-Mayer, Paramount Pictures, Lightstorm Entertainment, etc., to name a few. Many of these studios have made movies like Star Wars, Titanic, Iron Man, Spider Man, The Avengers, Jurassic Park, Transformers, Fast and Furious, and many more that turned out to be blockbusters worldwide and garnered revenues in billions (Exhibit I).
The US happens to be the third largest film market2 in the world, only behind China and India, in terms of annual ticket sales. However, the US film industry, is the largest in terms of revenue generation. Hollywood studios collectively make over $10 billion each year consistently.3 Comparatively the budgets invested in the making of Hollywood movies are also huge.
This gives Hollywood movies a grander scale and allows them to create movies of exceptional quality, using high quality equipment, software and technology in recording, editing, music, graphics, etc..........
Exhibits
Exhibit I: Highest Grossing Hollywood Films – Worldwide Revenues
Exhibit II: Highest Grossing Bollywood Films – Worldwide Revenues
Exhibit III: Worldwide Gross Revenue of Disco Dancer
1 “Film and Movie Industry - Statistics & Facts”, https://www.statista.com/topics/964/film/ (Accessed Date: July 5th 2018)
2 “Film and Movie Industry - Statistics & Facts”, op.cit.
3 http://www.boxofficemojo.com/yearly/chart/?page=2&view=releasedate&view2=domestic& yr=2014&p=.htm (Accessed Date: July 5th 2018)