India - also known as Asia's "creative superpower", derives this name for no other reason than its massive entertainment industry. Hindi movies are not, by any means, constrained by the Indian border; and are well recognized across the globe, and throughout a diverse, demographic population. So what are the factors driving this double-digit growth in Bollywood?
Advancements in multi-screen theaters, home entertainment, satellite delivery and other developments of cutting-edge technologies among changes in social behavior. "Movie theaters, the primary market for Indian films, are undergoing historical changes that are serving to energize not only the film industry itself, but the nation's wider consumer boom as well. Modern multiplexes are quickly replacing single-screen cinemas, giving Indian consumers flexible programming, high-quality viewing conditions, and providing concession sales. Multiplexes are included in the plans for most of the 300 shopping malls currently under construction in India," a report by Creative and Innovative Economy Center (CIEC) of the George Washington University Law School has said.
The booming movie industry grew by about 15-20% last year alone. There are on average 1,000 new Hindi movies released annually which gain worldwide audiences.
"PriceWaterhouse Coopers forecasts that India is going to have the fastest growing media and entertainment industry in the world, rising at a compound growth rate of 18.5% between 2006 and 2011. The film business alone is expected to double in size during that period, to some $4.4 billion." (FORTUNE Global Forum)
Despite the optimistic views on the Hindi movie industry, there remains one major reason for concern - piracy. There is undoubtedly more piracy of Hindi movies versus their English counterparts. Just like many other golden opportunities, there remains a challenging byproduct. Despite the legal issues, Hindi movies are freely available for one to enjoy at his/her own leisure; should you choose to watch Hindi movies online, you can do so on site like this: http://www.hindimoviesonline.net
Sources: http://money.cnn.com/2007/11/05/magazines/fortune/india1105.fortune/index.htm - http://www.realbollywood.com/news/2007/02/three-key-factors-driving-bollywoods-growth-study.html
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