New Delhi: The Indian film industry revenue is expected to grow by 56% to Rs 12,800 crore by 2015, from Rs 8,190 crore last year due to increasing digitalisation of the sector, Assocham said on Tuesday.
“The digital revolution is visibly impacting the distribution and exhibition of films in India as the industry marches towards completion of 100 years with revenue projection of Rs 12,800 crore by 2015,” it said.
Backed with 12,000 theatre screens, 400 production houses and a huge viewership, the country has world’s largest film industry in terms of number of films produced and ticket size, it added.
The industry body said over 1,000 films are produced every year in more than 20 languages in the country.
Digitalisation of film distribution and value-added services like movies on demand are set to open up new revenue streams and business models, it said, adding that the box office collections, at present, contribute about 80% to the total film revenues.
“Technological advancements like digitalisation, onset of next generation networks and availability of sophisticated devices to access media are contributing to a growing chunk of ancillary revenues,” Assocham said.
It said though the number of multiplexes is rising, the average number of screens is extremely low in India at 12 screens per million compared to 117 in the US.
The chamber further stated that the film industry loses Rs 300 crore to 400 crore a year due to piracy and there is a shortage of world-class institutions to provide film and media training.