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Imax sets its sight on Bollywood and India's audiences | Imax sets its sight on Bollywood and India's audiences |
(about 11 hours later) | |
By Jorn Madslien Business reporter, BBC News | By Jorn Madslien Business reporter, BBC News |
With 689 movie theatres in 52 countries, the large-screen cinema operator Imax has emerged as a truly global player in the world of films. | With 689 movie theatres in 52 countries, the large-screen cinema operator Imax has emerged as a truly global player in the world of films. |
Well, almost. | Well, almost. |
The Canadian company has yet to conquer India, home to the world's second largest film industry after Hollywood. | The Canadian company has yet to conquer India, home to the world's second largest film industry after Hollywood. |
And that, acknowledges Imax chief Rich Gelfond in an interview with BBC News, is not going to be easy. | And that, acknowledges Imax chief Rich Gelfond in an interview with BBC News, is not going to be easy. |
More than a decade after first entering this vast country, there are still just four Imax theatres in India. | More than a decade after first entering this vast country, there are still just four Imax theatres in India. |
And even as the company guns for growth, their number is expected to barely hit double digits by the end of this year. | And even as the company guns for growth, their number is expected to barely hit double digits by the end of this year. |
"India is still fairly embryonic," Mr Gelfond reluctantly admits. | "India is still fairly embryonic," Mr Gelfond reluctantly admits. |
"India is not China, and it's not going to grow as quickly as China." | "India is not China, and it's not going to grow as quickly as China." |
Hard to change habits | Hard to change habits |
The contrast between the two is enormous. | The contrast between the two is enormous. |
In China, there are more than 100 Imax theatres, up from just 13 in 2008, and another 150 or so new ones are planned for the next few years, Mr Gelfond says. | In China, there are more than 100 Imax theatres, up from just 13 in 2008, and another 150 or so new ones are planned for the next few years, Mr Gelfond says. |
When compared with its success in China, Imax's failure to conquer a country of movie lovers such as India might come across as incompetent at best. | When compared with its success in China, Imax's failure to conquer a country of movie lovers such as India might come across as incompetent at best. |
But Mr Gelfond insists it is not as easy as it might seem. | But Mr Gelfond insists it is not as easy as it might seem. |
Establishing Imax in China was aided by the Chinese people's "enormous appetite for what I like to call 'affordable luxury'," Mr Gelfond says. | Establishing Imax in China was aided by the Chinese people's "enormous appetite for what I like to call 'affordable luxury'," Mr Gelfond says. |
He agrees that $15 (£10) cinema tickets will be seen as an expensive treat for many in China, though he points out that it is not as costly as many other luxury goods. | He agrees that $15 (£10) cinema tickets will be seen as an expensive treat for many in China, though he points out that it is not as costly as many other luxury goods. |
"The main market in China can't afford Chanel bags," he observes, "so going to an Imax becomes a sort of status kind of purchase. The Imax brand is stronger in China than it is in the US." | "The main market in China can't afford Chanel bags," he observes, "so going to an Imax becomes a sort of status kind of purchase. The Imax brand is stronger in China than it is in the US." |
The Chinese have also fallen in love with films made in Hollywood or elsewhere in the West, unlike the Indians whose relationship with the movies is different, Mr Gelfond reasons. | The Chinese have also fallen in love with films made in Hollywood or elsewhere in the West, unlike the Indians whose relationship with the movies is different, Mr Gelfond reasons. |
In India, Bollywood films that are often low-budget are shown all over the country, often in small, local cinemas where tickets cost $2-3. | In India, Bollywood films that are often low-budget are shown all over the country, often in small, local cinemas where tickets cost $2-3. |
This makes it much harder to sell an altogether different entertainment proposition that costs five times as much or more, he says. | This makes it much harder to sell an altogether different entertainment proposition that costs five times as much or more, he says. |
"In China, we could build from the start," Mr Gelfond says. "It's harder to change people's habits." | "In China, we could build from the start," Mr Gelfond says. "It's harder to change people's habits." |
Exports potential | Exports potential |
Imax's latest India strategy is much more comprehensive than its previous ones. | Imax's latest India strategy is much more comprehensive than its previous ones. |
At its core is a partnership with Bollywood production company Yash Raj Films Studios to shoot Dhoom 3 in the Imax format, in an effort to build on the success of blockbusters Dhoom and Dhoom 2. | |
"The Dhoom films have been the most successful Bollywood films in history," insists Mr Gelfond. | "The Dhoom films have been the most successful Bollywood films in history," insists Mr Gelfond. |
Investing in Indian-made films is crucial for anyone who wants to win over an Indian audience, even though many there are developing a taste for international movies. | Investing in Indian-made films is crucial for anyone who wants to win over an Indian audience, even though many there are developing a taste for international movies. |
India's fast-growing middle class is increasingly willing to pay a premium to see movies from Hollywood, Mr Gelfond reasons. | India's fast-growing middle class is increasingly willing to pay a premium to see movies from Hollywood, Mr Gelfond reasons. |
"There's been a fair bit of Western cinema building in India, with ticket prices in modern multiplexes often coming in at about $9," he says. | "There's been a fair bit of Western cinema building in India, with ticket prices in modern multiplexes often coming in at about $9," he says. |
Hence, the jump to Imax is not as large as it used to be, he says. | Hence, the jump to Imax is not as large as it used to be, he says. |
Yash Raj and Imax are not planning to rely on the Indian audience alone, however. | |
Movies are becoming increasingly global, Mr Gelfond says, pointing to the international success of Life of Pi, which was shot in India with Indian actors. | Movies are becoming increasingly global, Mr Gelfond says, pointing to the international success of Life of Pi, which was shot in India with Indian actors. |
In other words, Imax films made in India should work for audiences in China, Europe or the US too, not just in the domestic market, he explains. | In other words, Imax films made in India should work for audiences in China, Europe or the US too, not just in the domestic market, he explains. |
This export potential of big budget Imax films should make expansion in the vast, but hugely competitive, Indian market economically viable, he believes. | This export potential of big budget Imax films should make expansion in the vast, but hugely competitive, Indian market economically viable, he believes. |
As such, Imax's efforts to conquer India might just be the fillip needed for Bollywood to conquer the world. | As such, Imax's efforts to conquer India might just be the fillip needed for Bollywood to conquer the world. |
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