Join Rajesh Naidu, ET's film business reporter, and veteran distributor Suniel Wadhwa, along with producer Vikram Malhotra, as they navigate Bollywood's current crisis. Discover why over 40 big-budget films have been shelved, despite the post-pandemic bounce. They delve into rising star fees, weak scripts, and shifting audience preferences towards OTT platforms. The trio also discusses innovative budget approaches and the need for consolidation in the industry to adapt and thrive in this new landscape.
Bollywood is struggling with financial constraints, leading to a record number of shelved projects and diminished star power's effectiveness.
Audience preferences are shifting towards rich, thematic storytelling, prompting filmmakers to adopt a holistic approach and realistic budgets.
Deep dives
Challenges Facing the Hindi Film Industry
The Hindi film industry is currently grappling with significant challenges, with up to 40 big-budget projects shelved due to financial constraints, a stark increase compared to pre-pandemic figures. High costs associated with hiring movie stars and crew contribute to production companies’ hesitance to greenlight new films, as financial investment in promotional activities has diminished. Additionally, the industry witnesses a waning confidence in innovative scripts, resulting in a reluctance from both production houses and streaming platforms to invest in new content. As audience preferences shift toward quality and depth in storytelling, even big stars no longer guarantee box office success, making many projects increasingly risky and unbankable.
The Shift in Audience Preferences
The transformation in audience demographics and preferences significantly influences the current landscape of Hindi cinema, particularly with the emergence of streaming platforms. A majority of cinema-goers come from tier 2 and tier 3 cities, where there exists a craving for rich, thematic experiences in films, rather than Western genre templates. Successful films now tend to embody a holistic approach, blending multiple themes rather than adhering strictly to a singular narrative style. As filmmakers reassess their scripts and production strategies, they must acknowledge the audience's desire for meaningful content that resonates on multiple levels, fostering a more engaged viewer base.
Economic Rationalization and Future Prospects
The economic landscape of the Hindi film industry is undergoing significant rationalization, as rising production costs demand a reevaluation of project feasibility and execution. Filmmakers are increasingly adopting more realistic budgets that reflect current audience dynamics rather than relying on outdated methods of finance and talent remuneration. This shift towards sustainable filmmaking practices is crucial for the industry's survival, as producers and studios prioritize economic viability over star power in project selection. Looking ahead, a focus on content quality, sensible budgets, and a better understanding of audience expectations may ultimately lead the industry towards a more mature and sustainable future.
Bollywood is facing turbulent times, with over 40 big-budget projects shelved or stalled—double the pre-pandemic numbers. Big names like Ranveer Singh, Tiger Shroff, Akshay Kumar, and Deepika Padukone are affected as rising star fees, weak scripts, and the waning bankability of A-list actors weigh heavily on the industry. After a promising bounce back in 2023, uncertainty now looms large. Join host Anirban Chowdhury as he delves into the reasons behind this freeze with ET’s Rajesh Naidu, Suniel Wadhwa of Karmic Films and producer Vikram Malhotra of Abundantia Entertainment.
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