Chinese firms to invest $1 billion in Paramount Pictures
The Dollar Business Bureau Paramount Pictures, one of the 'big six' in Hollywood, has inked a $1 billion investment deal with two Chinese movie enterprises, Shanghai Film Group (SFG) and Huahua Media. According to the deal, 25% of all films produced by Paramount in the next three years will be financed by these Chinese film making companies. An extension to the fourth year is also a possibility. The deal gives Paramount Pictures an entry point to China's movie screens. Paramount CEO Brad Grey said that the company might also make movies in the country someday. The infusion of such large capital will help Paramount regain some of its lost sheen. It can now produce 15-17 movies a year, which a studio as big must, to stay afloat. Under previous leadership, ...
Hollywood enchants Indian market, RDB grosses abroad
By Pooja Jain & Sairaj Iyer Last Friday, the opening collections at the box office for many releases was very gloomy. The only film that garnered huge collections was Hollywood’s Independence Day: Resurgence. The science fiction collected whopping Rs.4.70 crore. It easily left behind Anurag Kashyap’s thriller flick Raman Raghav 2.0, which managed to collect to Rs.1.10 crore on opening day. Meanwhile, Amitabh Bachchan starrer ‘TE3N,’ which was crushed by Hollywood’s Conjuring due to same day release, earned Rs.17.79 crore, while Conjuring managed to mint Rs.53.78 crore in India. The trends have changed; Hollywood has got more to offer to the Indian market. In 2005-06, Hollywood’s share at the Box office was 5%, whereas dependency on Bollywood flicks was 85%. However, since 2015, the ...
Government must address issues of Indian companies in China
The Dollar Business Bureau An industry body has asked the government to take urgent steps to reduce non-tariff barriers and ensure level-playing field for Indian companies in China. The Confederation of Indian Industry (CII) submitted a memorandum to the government a day before Prime Minister Narendra Modi was scheduled to begin his five-day tour to China, South Korea and Mongolia. Expressing concern over various challenges faced by Indian firms in IT, pharma and media sectors, the memorandum said that though the bilateral trade rose at a compound annual growth rate (CAGR) of 15% since 2007-08, the trade deficit has been burgeoning in an unsustainable manner. “Sectors such as IT, drugs and pharma, and media and entertainment pose several challenges for ...
