Movies

There is a need for uniform tax regime in the country: Siddharth Roy Kapur

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/movie-images/2014/08/23/scds.jpg?itok=AiKNSJ8V

MUMBAI: A country, which is considered filmy, with the kind of movies produced and the impact it has on the people, still faces numerous challenges. And one of this is the lack of cinema screens.

In a panel discussion at the 2nd Media & Entertainment Law Forum 2014 conducted by Legal Era, Walt Disney India MD Siddharth Roy Kapur stressed on how even with a population of 1.2 billion, there are only 13 screens for every one million people. “In fact, 3 Idiots, the greatest hit and revenue generator so far reached out to only 3 per cent of the entire Indian population, in terms of screens. All the others saw it on TV,” informed Kapur.

M&E industry contributes 0.5 per cent of the overall GDP of the country, of which movies is a Rs 12,000 crore business. Theatrical release, satellite rights, international rights and digital screening are all different models of revenue streams for the industry currently.

“We have so far not represented ourselves in a way that we should have to the government. We need to work with the government so that they know how well we can contribute to the economy of the country. It is only then that they will understand our challenges,” added Kapur.

According to Kapur, infrastructure, piracy, regulation and creativity if galvanised in the right direction can take the movie industry forward.  “There is not much regulation on the piracy front as well,” he said.  

The country also needs to invest in talent to ensure creativity. “Apart from that, of course we need good movies. The industry has to focus on writing and paying more to the writers. We need to move out of the south Asian diaspora and cater to a wider audience world over,” he opined.

An interesting point that came out during the panel discussion was the fact that regional movies contribute to 40 per cent of the total revenue the industry generates. “Mostly it comes from the Tamil and Telugu movies,” informed Reliance Big Films CFO Shibasish Sarkar.

Addressing the growth of regional movies, Kapur said that though these are important markets their sensibilities are different. “So it is better to ally with local partners, in terms of directors or producers at least for a couple of initial movies and then get your hands dirty. We do one Tamil movie a year now,” he informed.

Talking on the investment in movies, Sarkar said that any investor today looks at risk return ration before investing in a project. “Unfortunately, we have not yet been able to create an environment such that the investors can be made to feel confident of their investments,” he added.

What’s more, even with popularity of Bollywood world over and 100 per cent FDI, none of that money comes to India. “There is no venture capital environment here,” said Cinema Capital Advisory managing director and founder Samir Gupta.

Investors, according to Gupta, look for incentivised markets and so the government should be working at giving more incentives, if not at the central level, but at the state level. “There should be a legal framework for states, which can help them grow,” he said.

India is a tough market for animation movies, feels Kapur. “Audiences are used to watching animated content on TV for free, and so it is very difficult to get them to buy a movie ticket worth Rs 300 for an animated movie.” Another reason why animation movies have not grown in the country, Kapur opines that it lies in the fact that Indian filmmakers are not good storytellers when it comes to animation.

The panel also felt that there is a need for a uniform tax situation in the country. “Overall Goods and Services Tax (GST) is definitely a positive,” said Kapur. According to the panelists, in a uniform GST regime, entertainment tax will get subsumed into it, and this will be a complete game changer.  

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/16/pvr_0.jpg?itok=UZKfyV-h
PVR acquires minority stake in US luxury theatre chain

PVR Ltd (PVR) will acquire a minority stake in US-based luxury restaurant and theatre iPic-Gold Class Entertainment (iPic).

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/11/15/sunil-lulla_1.jpg?itok=sqgylncT
Eros reports higher profit margin despite fewer releases

BENGALURU: Sunil Lulla-led Eros International Media Limited (Eros) reported 21 per cent margin (on operating income) for consolidated profit after tax (PAT) for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with 12.8 per cent margin for the corresponding quarter a last ago. The...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/31/inox1.jpg?itok=CpHFAdho
Inox reports increase in revenue, profits for second quarter

BENGALURU: Indian cinema chain Inox Leisure Limited (Inox) has reported improved revenue and net profit after tax (PAT) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding quarter of the previous year (Q2-17, year ago quarter). Inox revenue from...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/31/Grand-Challenge.jpg?itok=Eg01vsKl
1700 films received on ending violence against women film contest

NEW DELHI: Around 1700 entries from over 600 colleges have come in response to a campaign launchged earlier this year for two-minute films on generating debate and promote positive change in cultural and social norms around the value of women in India. The campaign ‘#BasAbBahutHogaya – Enough is...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/28/TP_Aggarwal.jpg?itok=WSDOM3Rj
Reduce GST on film industry, IMPPA pleads to FM Jaitley

NEW DELHI: The Indian Motion Pictures Producers Association (IMPPA) has urged the government to fix 5 per cent as the maximum GST rate that should be charged on all goods and services connected with the entertainment industry including entertainment tax.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/27/pvr.jpg?itok=O3ssMyZ4
PVR reports lower numbers for second quarter

Indian entertainment and exhibition company PVR Limited (PVR) reported a slight decline in total revenue for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding year ago quarter (y-o-y). Operating profit (EBIDTA), net profit after tax (PAT) and total...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/24/Bahubali%202_0.jpg?itok=jd72CACi
Baahubali 2 catapults Sony Max across genres and in Hindi movies genre

BENGALURU: Baahubali 2 raked in viewership for Sony Max as the channel topped Broadcast Audience Research Council’s (BARC) weekly ratings for Top 5 Hindi Movie channels - HSM (U+R) : NCCS All : 2+ Individuals for week 41 of 2017 (Saturday, 7 October 2017 to Friday, 13 October 2017). Sony Max was...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/23/Priya_Giri_Desai-David_Schwartz.jpg?itok=salialb2
Women filmmakers' northeast works to be highlighted at India fest in NY

NEW DELHI: Three films from northeast India and a special focus on films made by women filmmakers will be the highlights of the second edition of the India Kaleidoscope Film Festival (IKFF) to be held in New York next month. The festival is being presented by the Museum of the Moving Image (MOMI)...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/10/21/Secret%20Superstar.jpg?itok=6bQiSsgV
Secret Superstar: Patchy underdog movie riding on Aamir's fame

There have been numerous films on a protagonist going against the tide to fulfil his ambition and childhood dream. Usually, in films, such aspirants come from second rung cities, small towns or mofussil India. That adds to the sympathy or the underdog quotient as the script’s requirement.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories