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| Focus on exploring co-prodn with foreign partners |
| BS Reporter / Mumbai Mar 16, 2010, 00:49 IST |
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The West is looking at the East and it is not for exploiting cheap labour this time. People in the film business from the US, Germany, Japan, Turkey, Netherlands and the UK are flying here for the next three days to explore opportunities in the Indian market. Foreign film studios are looking to co-produce movies and form joint ventures with Indian companies in the media and entertainment arena.
The annual three-day event of the Federation of Indian Chambers of Commerce and Industry (Ficci) on the media and entertainment (M&E) sector will start tomorrow. Over 150 foreign delegates will be participating in the event and they are expected to work towards exploring co-production opportunities with Indian film makers.
"This year many foreign delegates are participating in the event. Around 50 delegates from Netherlands would be having business meetings with Indian content-providing companies. Netherlands is known for its TV formats and the delegates are expected to hold meetings with 90 companies. Around 10 delegates from Turkey would be participating in the event for the first time, as they would be looking at forging co-production alliances with Indian film makers. Both Netherlands and Turkey have been offering locales to producers to shoot their movies," said a Ficci spokesperson.
Last year, Fox Star Studios had bought the global rights for distribution of the Shah Rukh Khan starrer, My Name is Khan, for around Rs 100 crore. The film was shot in Los Angeles.
In the past two years, several Hollywood Studios have tied up with Indian film-makers and despite not tasting success in India, foreign film-makers are attracted by the demographics and spending propensity of the Indian consumer.
Columbia TriStar Motion Pictures had started the trend by co-producing Saawariya with Sanjay Leela Bhansali Films. Warner Brothers took it forward by co-producing Chandni Chowk To China with Rohan Sippy. Joining the league was The Walt Disney Company, that inked a joint venture with Yash Raj Films for the animation film, Roadside Romeo.
FICCI-Frames this year would be attended by James Nicholas Gianopulos, Chairman & CEO, Fox Filmed Entertainment and Louise Sams, Executive VP and General Counsel, Turner Broadcasting System Inc and President, Turner Broadcasting System International. There would be 40 participants from the US, while 20 industry honchos would be visiting from the UK. And, 20 delegates each from both Japan and Germany at the three-day event. The Japanese businessmen would be here to understand the dynamics of the Indian media industry and would meet stakeholders for possible alliances in the animation and digital technology arena.
The chief minister of Maharashtra, Ashok Chavan, and the Union minister for information & broadcasting, Ambika Soni, would be present at the opening ceremony. The chairman of Yashraj Films, Yash Chopra, and producer Karan Johar would deliver keynote addresses.
The event would also see the release of the Ficci-KPMG report on the M&E industry. KPMG says the industry is poised to start recovery in 2010, after hitting a rough patch in the previous year due to the economic slowdown. Growth in the industry is expected to be driven, amongst other factors, by the growth in subscription through enhanced penetration and expansion of digital delivery infrastructure.
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