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Project report on Movie Marketing By Mr. Punit Ketan Thakkar T.Y.B.M.S. Div – B Roll No – 109 Academic year 2010-2011 Project Guide Prof. Pankaj Natu DATE OF SUBMISSION 30TH September, 2010 SVKM’s Narsee Monjee College of Commerce and Economics Vile Parle (W), Mumbai-400053 - 1 - DECLARATION I, Punit Thakkar of SVKM’s Narsee Monjee College of Commerce and Economics of TYBMS, hereby declare that I have completed the project on Movie Marketing in the academic year 2010-2011 The information is true and original to the best of my knowledge. Punit Thakkar - 2 - CERTIFICATE I, Mr. Pankaj Natu, hereby certify that PUNIT THAKKAR of SVKM’s Narsee Monjee college of Commerce and Economics of TYBMS (Semester V) has completed the project on “Movie Marketing” in the academic year 2010-11 under my guidance. Prof. Pankaj Natu Prof. Sunil B Mantri ( Project Guide) (Principal) N.M. College N.M. College Acknowledgement - 3 - I would like to acknowledge the following for being the idealistic channel and fresh dimension in the completion of this project. I take this opportunity to thank the University of Mumbai for giving me a chance to do this project. I wish to appreciate the SVKM management for providing the state of the art facilities, the Principal Prof Sunil B. Mantri for his dynamic leadership and the library staff for their support in providing academic content, and the teaching and supporting staff of N.M. College, for providing the entire state of the art infrastructure and resources to enable the completion and enrichment of my project. I take this opportunity to thank our co-coordinator and my project guide, Prof. Pankaj Natu, for his moral support, guidance and intellect that made this project successful. I would like to thank our college library for having provided various reference books and magazines related to my project. Lastly, I would like to thank each and every person who directly or indirectly helped me in the completion of the project. Especially my parents and peers, who supported me throughout the project. EXECUTIVE SUMMARY - 4 - Gone are the days when the producer’s job ends once a movie is made. In this day and age it is imperative for every filmmaker to market his movie once it is completed. The lag between the completion and release of any movie can have a fatal effect if it is not promoted effectively and smartly. Thus, for a movie to stand out in the minds of the audience, it is important that the merit of the same is communicated to them in the most appropriate and meaningful way. In the last five years, non-traditional media houses have opened up. But the fact that a producer can spend more doesn't really mean that he has to. When you say, you have spent so many crores, it isn't really something to be proud of. What really matters is how we spend the money. Marketing surely has to translate into driving more people to the theatre on that first critical weekend. Today, with the change in speed of operations, a major campaign can be launched in a matter of days, but in such a situation, factors from the ability of differentiate your radio message from the TV to the spread of your costs and what media you buy – all becomes critical. Marketing is the key in ensuring that a film is able to communicate its core theme to potential viewers in an engaging way. It sets up the expectation levels of the audience with regard to what sort of film they can expect when they enter the auditorium, and is primarily responsible for the opening the film garners. Post release, the objective of marketing is to ensure the film remains fresh in the minds of audiences as long as possible and to build on audience reactions to the film by adapting the PR and media plan accordingly. In its true sense, marketing is all about the launch. The Indian film industry has definitely woken up to the importance of marketing in driving the business, however, it is still looked at by many as an additional expense rather than an investment like the cost of production. The reason for me to have chosen this topic for my research project is based on the fascination I have towards Bollywood and its various facets, primarily marketing. The quantum of publicity of movies that is all around is simply hard to ignore. The emerging trend of rightly marketing every movie – right from pre production to distribution and promotion is something that I like to follow keenly. As a marketing student, the idea of effectively presenting a film to the audience and the dynamics that influence the same interests me. This is the reason why I have chosen ‘Movie Marketing’ as the topic for my project. TABLE OF CONTENTS - 5 - SR NO. TOPIC PAGE NO 1. Entertainment industry 7-11 2. History of Indian cinema 12-15 3. Bollywood 16-19 4. Marketing Mix for movies 20-26 5. Marketing and Bollywood 27-28 6. Marketing the Film 29-34 7. Role of marketing in creating a successful movie 35-39 8. Promotional tools 40-51 9. Corporatization of Bollywood 52-55 10. Box office collections 56 11. Case studies 57-67 12. Recession and Bollywood 68-70 13. Future of Movie Marketing 71-72 14. Recommendations 73 15. Conclusion 74 THE ENTERTAINMENT INDUSTRY - 6 - The Indian media and entertainment industry stood at Rs 58,700 crore in 2009, a growth of 1.4% over 2008, said the latest FICCI and KPMG report released at Frames 2010 on Tuesday. The industry is expected to grow at a compounded annual growth rate (CAGR) of 13% to reach the size of Rs 1,09,100 crore by 2014. Last year, print showed a very moderate growth of 2%, reaching around Rs 17,500 crore in size. Music, Internet, gaming and animation brought cheer with double digits growth, albeit on a smaller base. Out of Home, films and radio sectors registered a negative growth during the year. Rajesh Jain, head of media & entertainment, KPMG India said, “The untapped potential for growth in media reach, impact of digitisation and convergence, better consumer understanding, sustained efforts in innovation, and enhanced penetration of regional markets, all augur well for the industry.” Experts believe the annual 13% rate will be driven by factors such as favourable demographics, expected recovery in the GDP growth rate and increasing media penetration. “Though console gaming currently constitutes the largest share of the pie, going forward mobile gaming is expected to eventually surpass console games levels. The growth in this sector will be backed by the increase in number of casual and active games, arrival of 3G, availability of localised content, growth in ad funded gaming platforms and greater awareness of products and services,” said Jain. By 2014, the gaming industry is expected to grow at a CAGR of 32% to reach Rs 3,200 crore in size. PWC recently released – Indian Media & Entertainment Outlook 2009 Report – which however is optimistic of a double digit growth rate for Media & Entertainment sector from next year onwards. Print medium still dominates in terms of the size and share percentage. Total print size is Rs. 111.5 Billion with a market share of 47.3%. Television comes in close second with 38.6% market share and total size of 91.0 Billion. But interesting trend is the fast growth of Online and Radio industry, though OOH still needs to pick up pace. Online medium is at a very nascent stage in India in terms of Advertising and it provides a huge potential. What we need though is a different kind of ad selling model as Google ads doesn’t seem to work the same way in India as in the US. The report also presented some very interesting Stats about Indian M&E sector- - 7 - . Over 1,000 movies released annually (largest in the world) . 3.2 billion movie tickets sold annually (largest in the world) . 80 million pay-TV homes (third largest in the world) . 119 million television households . 450 television channels . Over 300 million mobile subscribers (second largest in the world) . Over 350 radio stations . 6,000 newspapers published, including the worlds’ largest circulated daily. 10,000 music tracks released annually. (That is close to 3 tracks daily) Indian Entertainment and Media Industry in no doubt have witnessed magnificent growth in recent years. If a recent report by PWC is to be believed then India is certainly on the verge to witness major growth in E&M industry after only to China. Indian E&M industry grew at 10.3 per cent to reach the size of Rs. 536.9 billion, although it will witness only 8 % in 2009 compared to 16.6% compounded annual growth over the 2004-08 period. The growth in Indian E&M industry would hover around 10.5 per cent during the forecasted period 2009-13. - 8 - Outlook for Segmented growth of the Indian E&M Industry (2009-13) Television: The industry is estimated to grow at a rate of 11.4% cumulatively over the next five years, from an estimated Rs. 244.7 billion in 2008. The overall television industry would reach Rs. 420.0 billion by 2013. In the Television pie, television distribution is projected to garner a share of 60% in 2013. On the other hand, television advertising industry is projected to command a share of 41.0% in 2013, having increased from current 39.0% in the total ad industry pie.