China offers big mkt for Indian films

China offers big mkt for Indian films

China offers big mkt for Indian films

 China is emerging as a big market for Indian films, and this trend would help Bollywood boost its overseas collection.

Indian film-makers have always been eyeing the Chinese film market for a very long time now. But the country’s restriction to theatrically release only 34 foreign films a year, which include, 14 Hollywood movies, and 20 movies from the rest of the world, have not worked in the favour of Bollywood. Only five Indian films have been released in China, till date.

Currently, China’s film market boasts of a turnover of $5 billion, growing at a CAGR of 34 per cent, with an average rate of $8 per ticket. The country is the second largest film market in world, following the US. At present, with a total of 26,000 screens, the Chinese market is expected to surpass the US film box office market in the next five years, according to the Motion Pictures Association of America (MPAA).

Aamir Khan-starrer PK, which was released recently in China in over 3,500 screens, has grossed more than Rs 100 crore. Eros International has signed a memorandum of understanding (MoU) with three Chinese state-owned film and entertainment companies last week, namely, China Film Group Corporation (CFGC), Shanghai Film Group Corporation (SFG) and Fudan University Press. This was done at the India-China Business Forum in Shanghai, which was part of Prime Minster Narendra Modi’s China visit.

There are discussions at various stages by both these bodies with their Chinese counterparts.

In fact, there is a favourable environment between both the countries as the Ministry of Information and Broadcasting and China’s State Administration of Press, Publication, Radio, Film and TV, (SAPPRFT) signed an agreement during Chinese President Xi Jinping’s visit to India, last year, to allow joint productions with joint investments.

According to Ultra Media and Entertainment CEO Sushil Kumar Agrawal, “For Indian film-makers, apart from picking and choosing the right films, cracking the distribution model is the key. It is important that the Indian film-makers plan and work with the China Film Group and other apex distribution bodies much in advance, and sync in understanding the country’s geographical intensity and local consumption patterns and taste.”

“It is through this approach that they will be able to tailormake their films in terms of positioning, dubbing and marketing as per the Chinese viewer preference,” he added.
“India has always been a huge fan of Chinese action and martial art films for years now. Also, history has proved that Chinese films always were very high in entertainment quotient. Their films have a very effective story telling format and it will resonate very well with the Indian audience,” Agrawal added.

A Sino-Indian filmi love story

Chinese taste for Indian films is good news for Bollywood
Chinese and Indian film-related bodies discussing various possibilities
China’s film market has a turnover of $5 billion, growing at a CAGR of 34%
Indians too have always had a fondness for Chinese actions flicks