New York: Most American movies enthrall audience worldwide with their creative exuberance, but media baron Rupert Murdoch feels it is India’s Hindi film industry Bollywood that influences Hollywood, both financially and creatively.
For Murdoch, whose business empire stretches from newspapers to television channels to filmed entertainment, among others, India is more welcoming of competition in the media industry.
“India, which far, far earlier in the economic development cycle, has been more welcoming of competition and so Bollywood has come to influence Hollywood, financially and creatively,” media conglomerate News Corp chairman and chief executive officer Rupert Murdoch has said.
Fox Filmed Entertainment from the News Corp is a leading entity in movie production and distribution. Further, the group’s Twentieth Century Fox Film has churned out top grossing movies including the multi-Oscar winner Titanic.
There have been increasing collaborations between the Indian film industry and Hollywood in the recent times. Earlier this year, billionaire industrialist Anil Ambani announced a partnership with ace film maker Steven Spielberg for producing films, in a deal worth millions of dollars.
In India, News Corp has a significant presence through its television network Star India, among others.
Applauding the diverse and growing media industry in India, Murdoch noted the great winners of this progress are the people of India.
“A willingness to allow international companies into the domestic television market has prompted local companies to improve their production quality.
“... The great winners are the people of India, who have much pride in their global success and a choice of programmes unimaginable a decade ago,“ Murdoch said at the recent World Media Summit held in Beijing.
According to him, pioneers like Star India have made a significant contribution to the country’s growing media sector. Star India has a total of 19 channels in eight languages.
News Corp also owns prestigious brands like The Wall Street Journal, The Times, The Sunday Telegraph, National Geographic and Dow Jones.