One of the email forwards brought this news item about a CII-AT Kearney report on the growth of the Indian Film industry. The news items says “The Indian film industry is worth around $1.8 billion in 2006 (around Rs 7,500 crore) and is expected to grow at 25% per annum in value terms for the next four years to reach $4.5 to $5.1 billion (around Rs 20,000 crore) by 2011, said a report by CII-AT Kearney on ‘The new economics of the Indian film industry: creativity and transformation’.
Contrast this with the other great Indian industry – the IT Industry. For one, the CII-AT Kearney report could just as easily have been about “The new economics of the Indian IT industry : innovation and transformation”, and with a few deft global changes of “box office” by “US Market” and such, the report may stand up quite well (perhaps better than a blog automatically translated by Google from one language to another). But if we look at the numbers, they tell a different story.
Surprising, isn’t it? For all the ritz-and-glitz, the film industry is rather small! That is one difference between Films and IT Industry. The difference in scale!
Companies like TCS, Infosys, Wipro, Cognizant, are all making more money than the whole Indian film industry!
Move aside Dev Anand! Make way for Narayana Moorthy?
Which brings to mind the advice that Mr Narayana Moorthy gave in his valedictory address to the film and entertainment moghuls in an entertainment industry summit a few years ago. Do you remember reading about that? No?
Well, its worth reading all right. Check this
The Chairman of Infosys gave a 5 point Mantra to Moviedom. He said Globalize, Benchmark, Corporatize, use project management techniques, and go for quality certifications. But I wonder about the wisdom of all this cross pollination, esp the last pollen. Imagine making a movie using procedures conforming to ISO 9000 (or whatever) standards😦
I would rather try the reverse. For eg, from IT industry perspective, I wouldn’t mind checking out the best processes of movie-making. I am not sure, but I suspect that the film industry is pretty good in project management. I read of massive productions being completed in record time. It may well be that we in the IT Industry need to check out film industry benchmarks! Also, in terms of staff assignments, I quite like the specialization of roles in film industry – Producer, Director, Actors, Playback singers, music directors, stuntmen, visual effects folks etc. Compare that with IT industry where, generally speaking, the same person tends to be fungible across all kinds of roles! I am sure there are more learnings!
What say you?