Box office duds spelling doom for big Bollywood production houses

Fitoor and Mohenjo Daro

When the Katrina Kaif-starrer Fitoor tanked earlier this year, it came as a big blow to Disney

For a while now, trade circles are buzzing with news of Disney pulling the plug on its Indian arm, UTV Motion Pictures. At the same time, Ekta Kapoor's film production venture Balaji Motion Pictures, too, has decided to direct its attention to their new digital wing, ALT Entertainment, and stay focussed on television and the Web.

The poor response to Hrithik Roshan and Pooja Hegde in Mohenjo Daro led to Disney allegedly pulling out of UTV

To most industry observers, this is a clear sign that the corporate business model has gone kaput. Is it a rude shock? Many claim to have seen this coming - big budgets, overpaid stars and inadequate returns over prolonged periods has resulted in skewed balance sheets. But for individual producers, this could be the new beginning.

Rakesh Roshan

Boom busted
For producer Mukesh Bhatt of Vishesh Films, the news has been nothing short of sound of music. "Oh thank God, finally!" he said, with childlike glee. "When the corporates entered the movie business, they came with nothing except big money. They entirely destroyed the fabric of filmmaking in this country. Bollywood was on a high. To onlookers like me, it was a scene right out of Udta Punjab, where everyone was intoxicated by the power of money. The love for films was diminishing and movies were becoming a money minting exercise. Before MNCs came into the business, we don't remember paying stars and their staff such obnoxious sums. MNCs created the perception of a booming market, but who was making money from it? A movie is not a hit till all parties have made profit."

Mukesh Bhatt

Scale is a myth
Film exhibitor Akshaye Rathi, however, doesn't mirror Mukesh's feelings. He laments that the industry has lost monetary support, which could lead to films compromising on their scale. "We are losing money banks and that cannot be a good sign for a growing industry. The fraternity and its working needs correction and hope this is a trigger for people to introspect. Without the MNCs, it won't be remotely possible to make movies on a large scale."

Mukesh, however, makes a clever point. He says scale doesn't sell, content does, adding, "Even before MNCs came to India, we were making Sholay and Mughal-e-Azam. SS Rajamouli made Bahubali without help from any MNC."

More than just a cash cow
Producer-director Rakesh Roshan tells us that one of the main reasons for the failure of MNCs is that they were investors - no strings attached. "Single producers like me cannot afford to stop at cash inflow. We have to know every aspect of filmmaking - direction, music, ability to pick the right talent, cinematography and so on. The personal touch is necessary. Even when the MNCs were coming in, I was one of the few people who kept my banner close to me. I was never pressurised by them because, I didn't feel the need to look around. I knew I can manage well
by myself."

Akshaye adds, "Filmmakers should be more responsible when someone else's money is on the line. When a film like Jagga Jasoos is in the making for over three years, the studios also want to know if it is worth their money."

Earn your salary
Akshaye agrees that the return of the solo producer might do the industry some good as they will bring back the ethos and values of the Hindi film industry. "The one thing that needs to change urgently is the high cost of talent. Most superstars and big actors are now taking profit shares from films. The actors need to be paid vis-a-vis the openings they command or the moolah they can earn," he says.

Corrective phase
Trade analyst Taran Adarsh calls this phase a ‘corrective' one. "We hope there will be more inclusive collaborations between solo producers and MNCs. The corporates are not going anywhere. They will return." And till then, "It is time for business models to change," quips Emraan Hashmi.

We agree.