The global box office in 2019 was valued at $42.2 billion. In 2018, the global film industry was worth $136 billion, including box office and home entertainment earnings. Hollywood is the oldest national film industry in the world, followed, interestingly by the Indian film industry headlined by Bollywood. China, on the other hand, will overtake North America as the world's largest box office market in 2020.
India has the world's largest film industry and the world's second-oldest film industry. In 2009, India produced 2,961 films on celluloid, with 1,288 of them being feature films. Apart from being the world's largest film producer, India also has the highest number of admissions.
In 2011, the Indian film industry made $1.86 billion (93 billion) in total income. India had a cumulative box office gross of US$2.1 billion in 2015, ranking third in the world. India's cinema sold 3.5 billion tickets worldwide in 2011, 900,000 more than Hollywood.
In terms of annual film output, India was #1 in 2013, followed by Nigeria, Hollywood, and China. India produced 1,602 feature films in 2012. In 2019, the total revenue of Indian cinema was $2.7 billion.
The industry is divided into sections based on the languages used. The Hindi film industry accounted for 44% of box office revenue in 2019, followed by the Tamil and Telugu film industries, which each accounted for 13% of box office revenue, and the Malayalam and Kannada film industries, which each accounted for 5%.
The Indian film industry is a multibillion-dollar industry. Its films have been seen in over 90 countries across Southern Asia, Europe, North America, Asia, the Greater Middle East, Eastern Africa, China, and elsewhere. Bahubali: The Beginning, for example, was copied in more than three languages, igniting a pan-India film movement. With a domestic gross of 650 crores, it set new records at the box office. Indian films are watched by millions of Indian people all over the world, accounting for about 12% of total revenue. That percentage in recent times is even on an upward review.
Universal Pictures, 20th Century Fox, Sony Pictures, and Walt Disney Pictures are all global companies. Among the Indian businesses that invested in the sector were AVM Productions, Prasad's Group, Sun Pictures, AGS Entertainment, Mercury 2, Geetha Arts, Zee, UTV, Suresh Productions, Eros International, Ayngaran International, Pyramid Saimira, Aascar Films, and Adlabs.
Indian cinema is becoming seen as more suitable to Asian and South Asian sensibilities than Western cinema in many Asian and South Asian countries. And according to Jigna Desai, Indian cinema had become 'deterritorialized by the twenty-first century, expanding to places of the world where Indian ex-pats were significant.
Indian cinema has just recently begun to influence Western musical films and has played a key role in the resurgence of the genre in the West.
As a result, the Academy Awards have recognized Indian cinema on several occasions. Mother India (1957), Salaam Bombay! (1988), and Lagaan (2001) received Academy Award nominations for Best Foreign Language Film. Bhanu Athaiya for a costume designer, Ray (filmmaker), A. R. Rahman (music composer), Resul Pookutty (sound editor), and Gulzar (lyricist) are among the Indian Oscar winners, as are Cottalango Leon and Rahul Thakkar for the Sci-Tech Award.
India's film industry has indeed carved out a niche for itself within the global film sphere, demanding, and rightfully so, the respect it deserves and now commands as the world's largest film industry.
The facts are indisputable that the Indian film industry has and still is contributing significantly to the global entertainment industry, and it is doing so with bold-faced rivalry to any other film industry in the global entertainment industry.
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Aug 23, 2021
by Eguaogie Eghosa