Indian Film Industry Draws Growing Investor Interest

[icernet-admin at listserv.cddc.vt.edu]

So far, the numbers are small -- a handful of investors in the valley 
are involved, and investments are relatively small, from $50,000 to the 
million-dollar range. The films are high-risk ventures, but that's no 
big concern for people who made their fortunes in the high-risk tech 
world. Interest in the multi-billion-dollar Indian film industry from 
tech types has picked up in the past year or two, said Kavi Raz, an 
independent Hollywood filmmaker who is making three Bollywood films for 
the U.S. market. Recent "crossover" movies, such as "Bend it Like 
Beckham" and "Monsoon Wedding," which grossed $32.5 million and $14 
million, respectively, caught the eye of Indo-American investors, who 
hope to replicate such success and spotlight Indian culture in the 
United States. Americans in general appear to be more interested now in 
the culture of the world's largest democracy, from music to food to film 
-- a trend the investors hope to cash in on. The cost of producing 
Bollywood films is relatively low -- anywhere from $1 million to $4 
million. In Hollywood, a $20 million film is considered low-budget.To be 
sure, it's a risky business. Outside of India, there are more than 400 
theaters dedicated to Bollywood movies, from Australia to South Africa 
to the Bay Area. And then there is the mainstream U.S. market, which 
some investors hope to crack with crossover movies in the mode of 
"Monsoon Wedding."

Source:
http://www.miami.com/mld/miamiherald/business/national/8461591.htm?1c