Fast & Furious 7 becomes the highest Hollywood weekend grosser in India : The Economic Times

MUMBAI: Fast & Furious 7 has become the highest Hollywood weekend grosser in India, earning Rs 70 crore (gross box office).The Universal Pictures' franchise, has been estimated to have generated over $ 2.5 billion worldwide.

The film, starring Vin Diesel and Paul Walker ­who died while the film was being made ­was released in India with around 1,651 prints at about 2,600 screens. Of them, at least 1,500 screens were e­cinemas (digital) and not 2K compliant which ensured the film a wider reach in B and C centres. This was a first for any of the six big Hollywood studios that had agreed not to release films in screens which were not 2K compliant. In what could be a one­off case, Universal Pictures International India got permission to release the movie at such screens. 

"The Indian gross box office is close to $1.5 billion. Hollywood, which is at a tipping point in terms of getting on par with large Indian releases, is using all its might to further increase its share. The success of Hollywood movies like Fast & Furious 7 shows that we will increasingly see action movies with strong story lines doing well in India," said Farokh Balsara, partner and media & entertainment industry leader ­Europe, Middle East, India and Africa ­Ernst & Young. Until a few years ago, Hollywood was considered an urban phenomenon and it released movies only for English­speaking audience.

 However, much has changed over the last few years as wider distribution network, growth in multiplexes and robust marketing have aided the growth of Hollywood content in India. The share of Hollywood may still be small (8­9%) in the overall domestic market, however, players are not complaining as its films continue to draw footfalls. In fact, dubbed versions in languages such as Hindi, Tamil and Telugu contribute about 35% of the total revenues. 

What could change things around is the e­cinema or digital non­DCI compliant release of Fast & Furious 7. Exhibitors, who had invested heavily in converting their screens to 2K, are not very happy . "It's disappointing that Universal chose to make Fast & Furious 7 available in non­DCI compliant cinemas, as well. That said, the impact of Hollywood films releasing in e­cinemas, on Hindi and other Indian language films, would be minimal at best. Indian films remain the most­preferred choice of content for cinemas in B and C centres," said Kamal Gianchandani, CEO, PVR Pictures. 

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