Let’s just mull on the two contrasting scenes before we go into some self-introspection. The past six months have been some sort of eye opener for us. It’s perhaps time that we learn from our mistakes. Today, I am going to talk about one such mistake that I feel we are all making. It’s a mistake that can be corrected easily if we make up our minds.
Scene 1: The News Production House Over the past six months the TV News industry has gone through an unexpected churn in India. Hundreds of journalists have lost their jobs. Some channels are even struggling to make two ends meet because money is not flowing in easily. The costs are rising and the profit margins have shrunk so much that costs are threatening to take over the already shrinking profits. Running television channels are becoming expensive by the day and on top of that the media regulations about revenue collections are becoming stricter. The same media houses which were lavishly spending even two years ago are now drastically cutting down costs because they need money to invest in their businesses. The writing on the wall is clear: If TV channels don’t start consolidating their operational costs right now they will soon have to down their shutters.
Scene two: The Bollywood Production House: The budgets of Bollywood films are becoming lavish by the year. Bollywood production houses are also letting the cash flow when it comes to publicity. Bollywood is also spending humongous amounts on media relations, acquiring billboards, road shows and events, across the world. According to unofficial estimates, any big budget Bollywood film (which is made at a cost of Rs 60 crores) is spending at least Rs 40 crores on promotions and publicity. Bollywood films that are clicking in the market are taking home huge amounts as profits and coupled with rights selling across media platforms (like music and satellite), most of big budget hit films are making a neat profit of Rs 100 crores and upwards. A total revenue return of Rs 150 crores is becoming an industry norm for any super hit Bollywood film. The scene is bright, sunny and looking up towards even a brighter future.
Why Bollywood should afford its publicity
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We have not paid Soumyadipta Banerjee for this article and that we have picked this article from his blog at www.bollywoodjournalist.com.