Recession in Bollywood

The Bollywood bubble seems to have finally burst. Bollywood is badly struck by recession.

Akshay Kumar, whose acting fees had reportedly hit a high of Rs 75 crore in 2008, has slashed down to around Rs 33 crore. So it seems even the Khiladi could not dodge the effects of an economy in recession.

The recent two month face-off between producers and multiplex owners has already cost them Rs.100 crore and Rs. 250 crore respectively. Add to it, the economic slowdown and producers are being forced to tighten their budgets. They have cut down on star prices, limited the hire of studio equipment, studio floors and even vanity vans.

Marketing films has also taken a hit. Kambakht Ishq, made at Rs 65 crore, went over budget as a result the plan to fly in the Hollywood talent used in the film including Sylvester Stallone has now been scrapped.

Films like Om Shanti Om and Ghajini were being picked up for unheard of prices ranging from Rs 60 crore – Rs 90 crore. However, the offers aren't so readily coming in now.

Salman Khan and Ajay Devgan starrer London Dreams which was to be bought by the Indian Film Company for Rs 120 crore at one point of time is finding it difficult to fetch even Rs. 80 crore now.So is the case with Akshay Kumar and Sanjay Dutt starrer Blue reportedly made at
Rs.100 crore is still looking for a buyer. Even one of Bollywood's most successful filmmakers Rakesh Roshan is reportedly having trouble getting the Rs 100-crore price attached to the Hrithik Roshan-Barbara Mori starrer Kites.

In fact, several productions in the pipeline have been affected by the current market scenario. While Big Pictures have scrapped their adventure drama Talisman starring Amitabh Bachchan, Eros has pushed the start date for their animation and special effects heavy futuristic film RA1 starring Shah Rukh Khan.

Star prices, or budget of Bollywood films and star tantrums thus are things of the past. The only thing certain in this world is uncertainty!