28th January, 2009
Every time recession sets in, it infuses a heavy dose of uncertainty, nervousness & self-doubt in everything that we do. It is also a time when one is forced to be more creative, innovative and productive – the basic principles of business, which we start ignoring in times of plenty.
If we look at the current scenario in India, there are two key observations.
The first one is that the audiences have not stopped seeing films. The business of “Ghajini” and “Rab Ne Bana Di Jodi” prove that if they want to see something very badly, they are going right ahead. One could argue that the films had the biggest stars and a lot of marketing hype, but whatever the reason, tickets were sold in these times.
The second important observation is that fewer films are being developed & produced. Most companies are trying to finish and release films that were green-lit last year. Hardly any films are currently being green-lit, unless they are backed by the biggest stars. Also, the scripts of projects that hope to get green-lit this year are being scrutinized further with reasonable budgets.
This will translate into fewer films releasing in late 2009 and 2010. Since the audiences haven’t gone anywhere, I am expecting late 2009-2010 to be virgin Fridays, where filmmakers could commercially exploit the hungry audiences.
Assuming that the capital markets will improve by 2010, the sudden inflow of money will start chasing ready scripts/projects.
That means, now is the time when script & project development activity should be at its peak. The current lean & recessionary time is offering the best opportunity to invest money (whatever is available) and sweat in creating smart, fun & innovative projects.
Hence a classic business opportunity awaits us.
What do you think?
Sid
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