Indian filmmakers under-utilise digital revenue streams: Fox top man
“Each time there has been a doomsday threat to the entertainment business, it has become a great opportunity, and business has expanded not despite the threats, but because of them,” says Jim Gianopulos, chairman and CEO, Fox Filmed Entertainment.
He was speaking at ScreenSingapore, a film business event organised by the Media Development Authority of Singapore from June 5-12.
“When multi-channel TV came in the 1980s, it was seen as the big challenge to the film business,” he observed. “But both box office and TV channels grew, increasing studio revenue. Similarly today, there are low cost, digital entertainment alternatives to film, which mean lower margins. But the fact is, wherever you are, entertainment is within arm’s reach.”
Digital technology has brought a revolution in entertainment, he pointed out – in film production, information, and consumer access.
“In production, apart from making low budget (regular) films using digital cameras, you could produce entire films like Ice Age using digital technology. You could use multiple digital platforms to generate business, including imdb.com, Flixster, Twitter, Facebook, Youtube and Amazon. And you could digitally access entertainment through multiple digital platforms, including multi-channel video providers, video-on-demand, iTunes and Playstation,” he says.