A shrinking pool of pre-sales financing drying up, dwindling ancillary revenues, lower DVD sales and internet piracy had all contributed to less cash available to fund non-studio fare.
But producer Jeremy Thomas singled India out as a “sleeping giant” in independent film, with a history of art house directors like Satyiajit Ray as well as Bollywood bombast.
Emerging markets wealth funds emanating from regions like Abu Dhabi, Doha and the Gulf were more likely to devote their film investment into local production or mass-appeal Hollywood movies, he added.
“And it’s the government’s fault that they have invested a huge amount of money into education for cinema and created this illusion to the people. What we really need is resources for independent films,” he said.
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