Thanks to new age motion picture technology, 3D movies have in a way revolutionised the world of entertainment. But just ‘in a way’, as for starters, the 3D experience in some halls was no great shakes. But then, Avatar is the most expensive 3D movie ever made and also the highest grosser ever. Not only has it been successful all over the world but has also created a lot of frenzy in India. India seems to be wanting more of the same. It’s not only the latest blockbuster Clash of the Civilzations which is expected to be a huger hit than Avatar (in India), but also that the last four matches of the on going IPL will be broadcast in 3D. Now, a lot of post production work is also expected to move to India. According to industry experts, in another three years, 3D movies would account for 10% of Bollywood’s total revenue as compared to the current 2%. From content to distribution, everyone in the value chain is gearing up to capitalise on this new opportunity. By the end of this year, India will have 180 cinema theaters that can showcase 3D films as compared to the current 50 odd. But the entire ‘picture’ is not so rosy as the cost of producing a 3D movie is almost 50% higher compared to a 2D movie (In Hollywood, it takes between $150-300 million to make a larger than life 3D movie). And to top it all, ancillary revenues from DVD sales and syndication are not possible in the case of 3D movies. Would 3D succeed in India? Well, India’s most successful (and first) 3D movie Chota Chetan was released in 1984. That didn’t lead to a stampede despite earning above Rs.50 crores. One wonders why this new wave will.
For more articles, Click on IIPM Article.Amir Moin
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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