Assignment - Daivata Patil Ma'am-1
Assignment - Daivata Patil Ma'am-1
Assignment - Daivata Patil Ma'am-1
(MACJ)
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INTRODUCTION:
Media Economics encompasses all forms of Media including
traditional forms such as print, broadcasting, music, and film, and new forms
such as the Internet. For investing in media we should have ample
knowledge of some media forms to invest in media business. Here is the
company which is a Movie Studio that produces a blockbuster every year. It
seems to be a good opportunity in this company. India has a longstanding
reputation for its acclaimed film industry and continues to be by far the
world’s largest producer of films. Nevertheless, domestic demand for films
appears to be waning as in a number of developed countries with mature film
industries.
Hence, the econometric analysis in this paper is particularly timely as
with demand for films in Indian cinemas falling. It is important to identify
those factors that make films appealing for Indian audiences. Then its
challenging also because to create a product that will make a good business
and it should cover atleast the amount we are investing or make a
blockbuster that will be a financial success and the satisfaction of the
creation.
Indian film industry first came into be with the efforts of many
producers and directors but first it all started with the efforts of "Father of
Indian cinema Dadasaheb Falake" who produces the first ever Indian feature
film "Raja Harishchandra" which released on 3rd May of 1913 with this
journey from 1913 to 2019 India gained a longstanding reputation for its
acclaimed film industry and continues to be by far the world’s largest
producer of films.
There was a time in India where creating a movie took a major time of
life of Dadasaheb Falke's film. It was surprise for the audiences when first
talkie film Alam Ara released. Now these Indian films are competing
Hollywood in India.
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OPPORTUNITY & CHALLENGES:
The opportunity is with the Movie studio as is making blockbuster
every year. It means the company has that title and reliability they have
earned from the audiences. The staff in this company is between 20 to 60 it
means we have the both energetic fresher’s with new ideas and experienced
staff with there analytical understandings. With the help of them and our
own creativity we can sustain the name and fame of this movie studio or
moreover we can make it that much successful which was never. The most
important that the new trend of small budget film with a good content has
emerged. This year many films released with a interesting content and small
budget which made many blockbuster.
In this process we should also know the challenges and difficulties of
film industries, audience's demand, current competitions and market. As like
films are facing such challenges of Piracy. a major challenge of film piracy
which limits the revenues that can be reinvested by producers, distributors
and exhibitors. A complicated system of regulations with responsibility
shared by a number of national and state level government departments only
contributes to the often ineffective nature of policies and laws that should
guard against piracy.
The shift from television, cable and DVDs to the internet is changing
cinema both inside and outside the theaters. Netflix has led the way,
dominating the internet streaming business by investing heavily in the
making of series and features. We can look at the Netflix as a challenge as
well as an opportunity. With this production house we can produce Feature
films, Short Films and Web series which is demand of time. With this
challenge and opportunity of Netfilx one more thing can be challenging i.e.
television the latest home televisions are techniquely becoming superior
compared to previous one so the theatre screen should be more superior.
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People should feel the need of theatre screen then only they will come to the
theatre to watch a movie.
Cinema is a both a global industry and a technological art, so it's only
natural that the trends and challenges I see are interweaved in business,
technology and culture. The trends in the film making are changing now and
the current trends are Practical Effects, Smaller-Budget Films, films are
dubbed online, Increased Social Commentary in Film etc. The audience's
approach has changed. They want genre specific movie. Genre is the only
way that a film buyer and the marketing manager of a distribution company
can quickly visualise the movie poster, trailer and marketing campaign.
Filmmakers are facing these challenges.
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to 7 crores and earned 300 crores it means the movie earned 40 50 times of
the budget furthermore, it has dubbed and recreated in another languages.
This trend of making money from multiplying the budgets has
emerged in Bollywood though there are the technological advancements and
medium of entertainment has changed its shape. Hence, the econometric
analysis in this paper is particularly timely as with demand of audience for
films in Indian cinemas. The Indian film market also can continue to have a
significant positive impact on the Indian economy because in this era of
internet, people also giving response to the feature films as well. The
discussion highlights appropriate film production company strategies and
government policy responses that should be considered to ensure the
continued success of the Indian film industry both domestically and in an
increasingly competitive international market.
According to economists The Indian film industry is expected to grow
at 11.5%. So this current market growth of film industry will be beneficial
for us after the acquisition.
After the acquisition first I will study market strategy and it will be
according to current trend
1. Investing minimum but ample amount of money but will try to work
on a brilliant content from this the money can be multiple in terms of
input ( this will be initial strategy because without any experience
there is a risk in the production of big budget film)
2. The marketing of the product means promotion. The trailer of the
movie is the key of marketing. Will try to show the trailer of the
movies for many days before the release of the film in this way some
money can be recover through trailer even before releasing the movie.
3. Songs and music will do the same as trailer. With songs and music if
the music becomes the popular there are chances to attract audiences
this happens particularly with Indian audiences.
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4. As it’s a production house not necessarily will make only feature films
starting a web series can be beneficial for the production house throgh
the web series the money can earn through advertisements.
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Tough the number of films produced by Hollywood is less than Films
produced by Bollywood It’s not quantitatively competitor but qualitatively
is. The term Bollywood is though often inaccurately conflated with Indian
cinema as a whole refers just to the Hindi-language industry in the city of
Mumbai. There are several different regional film industries throughout the
country, each in a different language; the most prominent ones are Tamil,
Telugu, Bengali, and Kannada languages.
The regional cinemas share a variety of common tropes (music,
dancing, fabulous costumes, high melodrama, et cetera, ad infinitum), with
noticeable differences; in a general sense, the south cinemas, Telugu and
Tamil in particular, are more floridly rowdy than the comparatively
restrained Bollywood industry. The highest paid star in Asia after Jackie
Chan is the Tamil-language star “Rajinikanth” who also known as “Superstar
Rajinikanth”.
Bahubali Part 1 and 2 were highest grossing South Indian films.Its
difficult to target audience from South because they are much more
interested in Tollywood only. It’s a challenging to make business in south.
Plus point from South Indian film industry is that there are many remakes of
South Indian films in Bollywood which are blockbuster the recent example
is of "Kabir Singh" is the second highest grossing Bollywood film of 2019
which was the remake of Tamil film "Arjun Reddy". The film has a
worldwide gross collection of ₹379.02 crore.
The Upcoming movies Akshay Kumar's Laxmi Bomb, Amir Khan's
Vikram Vedha, SRK's Sanki, Shahid Kapoor's Gersy and Salman Khan's
Radhe are the remakes of the south Indian movies and will be strong
competitors for Us. Like Bollywood and Tollywood other regional film
industries also growing faster e.g. Marathi film industry has been growing
leaps and bounds over the years because of its rich content and creative
thinking. No wonder it even has a global reach today.
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The year 2018 too has been pleasant for the Marathi industry so far
due to various efforts and initiatives taken by the new generation of
filmmakers, actors and technicians. "Sairat" is best example sairat grossed
over 300 crores its remake in Kannada and in Hindi also done. With all these
production houses and film industries there is also a competition with the
Netflix, Zee five, Hotstar, MX Player and You tube also.
There is a competition of web series because it is easily accessible on
mobile phones though we have to subscribe Netflix many people subscribe
because movie or film is only of 2 to 3 hours and web series are the series
which can be watched for more days furthermore it has seasons also after
watching one season we can watch another season. And as the taste and
demands of the new-age viewer changes, content providers are exploring
new ways to deliver original programmes specific to the digital
audiences. From this very stand point Web series plays a classic role to
individuals.
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first feature film will not be more than 30 crores. Though the production
house has debt amount zero we should try best that it will be always zero.
Including all expenses of the department the movie should be
completed in decided budget and decided time limit. The making of movie
won't be started till we get a good script. Because it can be a foolish decision
to work on script which is not satisfying. But in case of other department one
thing I will do that I will continue with the same staff because as the
production house was creating a blockbuster every year it’s better to work
with same experienced people atleast for the first movie and if this idea work
then for many times. Will also plan the projects like web series because
through the web series we can capture the audience through their home also.
Web series are mostly watched by youngsters so the content of the web
series according to audiences. Middle age people also watch it so it can be a
combination of both type of the content.
AUDIENCE ANALYSIS:
This production house is giving blockbuster every year and budget of
every movie is approximately 50 crores and on box office this production
house is making about 200 to 300 crores. The production house has an
audience already. But it’s necessary to fulfill audiences' expectations. This
production house has been making a movies with genre of comedy drama so
its already have that audience class which is interested in comedy drama.
Not only is the comedy drama but there also other genres like romantic,
Crime drama etc. If 6 out 10 films are blockbuster then doesn't matter even
the 4 films are not. Cinema is a both a global industry and a technological
art, so it's only natural that the trends and challenges I see are interweaved in
business, technology and culture. Audience analysis is the part which should
be studied before creating the content.
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Audience Analysis has the massive importance in mass media. It helps
to expand its reach to the audiences. That’s why audience analysis is a
prediction of the intensity of the effect of media content on audience. The
term audience analysis aims to identify the audience and adapting their
interests. Through the glasses of media economics audience analysis is the
key factor which helps to bring an adequate response in terms of investment.
For the audience analysis the cultural understanding is important.
1. It’s better to try to target all classes of society than specific class, language
and culture. If we target all age group and the many cultures in this way we
can get more audiences. India is a multicultural and multilingual country its
not be financially beneficial to show any one type of culture or setting. Even
if we look at historical movies such as Jodha Akbar and Bajirao Mastani
they have shown two cultures or either we can say two religions. There are
many religions also in India this fact also should be considered in audience
analysis.
2. Will keep the multicultural characters this will help to target audience
from many cultures. E.g. if I show Marathi Bangali or Asami culture it will
help to target many people. In the movie two states there are Panjabi and
South Indian culture has shown. Means they have targeted audience from
north and south as well which is difficult in Bollywood.
3. There will not be any age limitations in the content means even if the
script or story is of youngsters, the middle age or old age people also should
be attracted. e.g. the "3 Idiots" movie. This film has setting of an engineering
college and it has shown college life but this movie attracted all age
audiences because the content is that much strong no matter the audiences
are college going students or are they from engineering field or not.
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4. The interests of people are changing day by day people are seeking
something different today than yesterday because of social media and other
atmosphere they have started to find something different now its not the time
when people will go to theatre to look the set of that movie. As everyone is
aware of technological advancement either they want some strong content or
strong technology used content as like SRK's movie 'Zero' in this movie
SRK's height was reduced through animation so this thing attracted
audiences that time.
5. It’s better that How many audiences than who is our audiences. Who is
our audiences question becomes important when we think about the financial
class. How many people will go to PVR, INOX, how many can go to the
Multiplex and how many can afford ticket of Single screen theatre.
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earning for distributor and theatre owner at single screen theatre is 25:75 and
in multiplexes in the first week its 50:50 after a week its 60:50. In multiplex
the theatre owner also earns more but in case of single screen theatre
distributor and producer earns more. So it’s better to target both types of
theatres, multiplexes and single screen theatre and mostly will try to cover
maximum single screen theatre.
Ticket prices will be decided on market value of each city and
theatrewise also it will be more at multiplex and less in single screen theatre.
And I think the high cost of the movie tickets are driven by the movie
studios than theatres. If our company is making the movie and distributing,
releasing it. It will take majority of earnings of the tickets that's why the
popcorn and other things are very expensive at multiplexes.
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REFERENCES:
1) https://prezi.com/ukmqdzveayjc/how-has-hollywood-impacted-
bollywood/
2) http://collegetribune.ie/hindiwood-hollywood-influence-hindi-film-
industry/
3) https://economictimes.indiatimes.com/industry/media/entertainment/m
edia/film-industry-in-india-to-hit-3-7-billion-by-2020-says-
report/articleshow/60998458.cms?from=mdr
4) https://link.springer.com/article/10.1007/s10824-019-09351-6
5) https://www.youtube.com/watch?v=lfGvpVedT-k&feature=youtu.be
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