That lead to expanded width of release and gross box office. The top 10 Hollywood releases in India collected a combined $98 million in 2015, up from $64.8 million in 2014, according to accountancy firm KPMG.
The data was part of the annual sector report compiled by KMPG and the Federation of Indian Chambers of Commerce & Industry and published at this week’s FICCI-Frames convention. However, Hollywood remains a small part of the Indian scene.
India’s overall media and entertainment sector is currently valued at $17.4 billion and is set to grow by 14% per year to reach $34.1 billion by 2020.
After a sluggish 2014, the film industry grew 9.3% to $2.08 billion in 2015 and is projected to reach $3.4 billion by 2020. The report notes that the Hindi-language Bollywood industry remained flat and growth was led by performances of other Indian language movies and Hollywood.
Television remains the biggest sector, representing $8.1 billion, a 14% increase over 2014. It is projected to grow by 15% annually to reach $16.5 billion by 2020.
The biggest growth, according to KPMG, will be in the digital advertising segment of the market. Currently valued at a modest $906 million, it is projected to grow by a third per year to reach $3.8 billion by 2020. The animation and vfx sector was valued at $771 million for 2015 and is set to grow to $1.6 billion by 2020.