Industry & Economy
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Cinema
Auditing panel mooted for film business
Our Bureau
Mumbai
,
Sept. 8
TRANSPARENCY on the revenue side of the Indian film business as a means to ensuring organised financing for film production, was emphasised at a discussion on film financing organised by FICCI here recently.
Raising the point, Mr Sunir Kheterpal, Head (Media & Entertainment), Rabo India Finance, suggested that a data collection and auditing body akin to A.C. Nielsen be set up for the sector. "Even in Hollywood, the cost side of the equation remains intriguing and a closely guarded secret, especially ones related to overheads. But, the revenue side of the equation is fairly transparent," he said in his presentation.
With banks continuing to be conservative in their exposure to the sector, a well-defined revenue collection pattern and the potential for innovations therein like securitisation, is seen to help producers tie up funding for their projects; particularly with reference to newcomers in the field, who may have no or little track record to submit.
Already some instances of such data collection exists - private equity funds that have partnered distribution and film exhibition companies saying they are privy to details on cash flows. The question is how to work further and create a formal mechanism on a larger scale.
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