Multiplexes have decreased film business: Manmohan Shetty
Mumbai: Manmohan Shetty, who had kickstarted India`s multiplex revolution, now blames their growth on negative impact on film industry revenue.
"Proliferation in multiplexes to provide high value entertainment to a niche audience, has left no space for growth and sustenance of single screen theaters, which in turn has drastically affected overall business," Shetty said.
Stating that the multiplexes were meant primarily for the upper middle class market, he said, "this has eventually made the film business lose a significant share of its total audience representing the middle and lower income groups."
A spinoff was that those who could not afford a trip to a multiplex fell back on pirated CDs and DVDs, he said.
Shetty, who is also the president of The Film and Television Producers Guild of India, demanded special incentives from state governments for the construction of single screen theaters for the low income group.
"In order to re-tap the bigger lost market, offering entertainment at a cheaper price must be accorded topmost
priority," he said.
Shetty who has produced a number of acclaimed films like `Mrityudand`, `Gangaajal`, `Apaharan` and `Namastey London`, said higher risk by investing in new faces and fresh talents, of which there is acute shortage at present, is also of critical importance for the industry to sustain its growth momentum.
Shetty who had led the multiplex bandwagon in 2001 setting up one of the first multiplexes in the country, Fame Adlabs, was discussing key issues prevailing in the Indian film industry at a conclave organised by the Indian Chamber of Commerce here last night.