Bollywood Sets Sights on Wider Market

Unlike the Academy Awards, historically hosted close to home in Hollywood, the Indian International Film Academy roves around the globe. In its 12th year, the IIFA awards event will be held in the Americas for the first time: “Toronto, home to a prestigious international film festival of its own, is seen as a fitting launch pad for world cinema hoping to gain a foothold in the US market,” report Shabnam Mahmood and Manjushri Mitra for BBC News. “Ultimately Bollywood producers have an eye on closer collaboration with Hollywood – a fact that is not lost on Canadian officials.” India is the world’s most prolific film producer, with an output double that of Hollywood’s and increasingly diverse. The emerging economy offers double-digit growth potential, and the tales of romance and overcoming hardship appeal to the Indian diaspora and families worldwide. North America is responsible for 25 percent of Bollywood’s overseas box-office revenues, and there’s increasing Bollywood-Hollywood crossovers for talent, investment and distribution. – Yale Global