Greg Coote talks emerging markets, co-productions and Singapore
Greg Coote is one of Australiaâ€™s film pioneers â€“ his extensive media-heavyÂ resume includes stints as joint managing director of Roadshow Distributors, executive vice president of Columbia Pictures and managing director of Network Ten.
Today, the Los Angeles-based Australian views emerging markets with the same pioneering fervour.
â€œGoing into India and China is like walking the plank â€“ itâ€™s fraught with all sorts of danger but the rewards are equally huge,â€ Coote tells IF. â€œThere are 300 â€“ imagine this â€“ 300 cities in China with a population of around a million, which donâ€™t have one cinema screen. Isnâ€™t that extraordinary?â€
Both China and India are undergoing rapid industrialisation and both represent untapped markets for Hollywood and potentially, countries like Australia.
China currently limits its intake of foreign films to just 20 a year â€“Â a situation likely to change as the World Trade Organisation continues its lobbying efforts. Meanwhile, India’s local industry â€“Â BollywoodÂ â€“ still accounts for more than 90 per cent of its box office.