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to a report published by PricewaterhouseCoopers last month, India’s entertainment and media market was worth bn in 2008. This is predicted to grow at an annual rate of 10.7% to more than bn by 2013. Bollywood – which has a 3.6 billion fan base around the world, according to the New York Times – is a major part of that industry. It is hardly surprising that Hollywood and others are taking notice.
Last year Disney took a 32% stake in the Indian media company UMP, and George Soros spent 0m on a 3% stake in Reliance Entertainment. The Indian entertainment group Eros International already has two joint ventures, one with Lionsgate and another with Sony Entertainment, that will see the two companies develop, produce and distribute Hindi films.
Kishore Lulla, chairman of Eros, said the “cross-pollination” of Bollywood and Hollywood was inevitable.
