Film studios focusing on content, maintaining tight budgets
"Entertainment industry in India is going through a churn period. Excessive liquidity had caused over aggression and some incorrect decisions and most studios are in a correction mode at this point. The budgeting of films is definitely a lot tighter, more importantly there is lot more focus on `content` of each film than just putting together a slate of films," Gianchandani told PTI.
He said most studios were encouraging the `pre-sell` model for TV rights to ensure early recovery of cost and mitigation of risk for producer as the selling price of the TV rights were not linked to the actual theatrical box office performance of the film.
Theatrical exploitation remains the most important aspect of motion picture business and most studios prefer exploiting the theatrical rights directly through their own distribution set up, he said.
Gianchandani described the current year as that of consolidation for PVR`s motion picture business.
"We shall be releasing around 6-8 Hindi films this year out of which two would be our own productions and rest will be exploited by us as distributors. In addition, we shall be releasing 7-9 Hollywood films this year as right holders and all India distributors," he said.
He said PVR Pictures will be be releasing Hollywood films like `3 Musketeers` and `The Breaking Dawn` in India.
"Our total investment in our Hollywood slate for this year will exceed out last year investment by at least 25 per cent including acquisition cost. Most of our films releasing this year were picked last year or year before that at the scripting stage," he said.