New Delhi [India], September 8 (ANI/SRV Media): Thought Leaders of India, an exclusive business community of India's top industry leaders across genres, recently organized a fireside chat between film producer & director and Chairman, Mukta Arts, Subhash Ghai, and Joint MD & Creative Head, Balaji Telefilms Ltd., Padma Shri Ekta Kapoor, on the topic, 'Business of Entertainment: Why is it so tricky?'
Their chat was moderated by Komal Nahta, Bollywood trade analyst and host of the well-known TV show ETC Bollywood Business.
Giving a background on how the film fraternity functions as an industry, Nahta said, "The industry is divided into three sectors: the production sector, the distribution sector, and the exhibition sector. The production sector deals with producing films that includes the producers, the directors, the actors, the crew. It entails producing that film. A producer arranges for the finance, the shooting dates, etc. and the director is the technical and creative head of the film." Nahta explained, "The distribution sectors comprises distributors, who buy the films for releasing them in cinemas. The exhibition sector comprises all the cinemas where you and I go to watch films." He expressed confidence that things will normalize with the easing of lockdown restrictions gradually.
Subhash Ghai, whom Nahta called the dream merchant in his introduction, said, "What makes the film industry different from the other industries is that it is a business of creative minds. And when I say creative minds I mean to create new stories, new content, new communication, new narratives" Ghai said that his journey of four decades in the film industry has been a journey of self-discovery, fueled by his insatiable quest to become better at connecting with his audience. He said that he has been learning throughout this journey that began from an actor and progressed to a writer, from a writer to a director, from a director to a producer, from a producer to an educationist, an educationist to an exhibitionist to remaining a student for life. He said that today's audience includes a six year-old to a 60-year-old and a filmmaker has to keep in mind the various segments while creating the content for the films.
Ekta Kapoor, speaking on creating content for the big screen, the small screen and also producing web-series for different audiences that each of these mediums cater to, said "We are a nation of 1.3 billion people and the one thing that we have realized in recent days is that there is democracy in content. A good story, old or new, will always do well. And Innovation has become very important. You cannot repeat content. You have to break the mould and make a new mould." Commenting on the risks in going by one's instinct, she said, "You can have an instinct. You can go completely right based on it or completely wrong. You have to take failure as lesson and move on".
Nahta wanted to know if cinema will change so much that superstars will fade away. Ghai disagreed. "Not at all," he said. "Habits die hard. For example, people can also get married at home but they don't because everyone loves the feel, the dresses, the ceremonies of a wedding. Similarly, we will continue to have superstars".
Kapoor said that each of the three mediums caters to different, yet evolving requirements of the audience. "Certain content is best enjoyed at home with the family. That is where television comes in with family-oriented shows. Then there is certain content which is best enjoyed as a community and that is where theatres come in. And then there is content which is best enjoyed when viewed individually -- when one is travelling or relaxing and is on a break. Each medium caters to the evolving mood of the audience," she said.
Kewal Handa, Chairman, Clariant Chemicals Ltd. and Patron Member of Thought Leaders of India addressed the gathering on the significance of forums like Thought Leaders of India in the life of a Business Leader. Sharing his recent interaction with Nirmalya Kumar at the launch of Kumar's book Handa said he asked Kumar, how come there are more Indians abroad who are thought leaders than there are in India. Kumar replied, "It all depends on the ecosystem, the ecosystem abroad nurtures thought leaders -- the ecosystem recognizes thought leaders, the ecosystem rewards thought leaders. The ecosystem provides enough platforms to thought leaders to showcase their content." Comparing the scenario with India Handa said, "Though forums such as TLOI are few in number, they provide a platform for thought leaders to showcase themselves and contribute to the overall growth of the thought leader." Handa also shared the very essentials needed for becoming a thought leader in today's day and age.
Speaking on behalf of Thought Leaders of India, Rishi Kapoor, Associate Partner & Business Head, Sapphire Connect said "I am excited with the fact that the second engagement of TLOI was very well received. As Ekta said one must break the mould and innovate every step of the way, that is what we did for this second engagement. We wanted to delve deeper into the business of entertainment. What are the pitfalls, how has the industry evolved, what makes it so lucrative and tricky at the same time. And we had a phenomenal session on the subject with Komal, Ekta & Ghai saab, three of the most renowned names from the industry followed by an inspiring session by our patron Member Handa, a leading visionary from the pharma industry." Speaking on TLOIs' upcoming engagement scheduled for later this month, Kapoor said "And for our next engagement, which is part of TLOI's Nation Building Impact initiative, we are coming to New Delhi for an on-ground experience, an in-person interaction with Dr. Rajiv Kumar, Vice Chairman, NITI Aayog, who will be joining us as the Chief Guest of the engagement."
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