Scrabble expects 50 per cent revenue from Hollywood movies in next 2 yrs

MUMBAI: Scrabble Entertainment, which is in the business of converting 2D content to 3D, is expecting 50 per cent of its revenues to come from Hollywood movies in the next two years, said a top company official.

The only Indian firm to be 2k DCI-compliant has a revenue of Rs 75 crore and expects a three-fold growth in its earnings at Rs 250 crore by FY 13. Of this, about 50 per cent will come from Hollywood movies, the official said.

"The film industry has undergone a paradigm shift in the last two years with the entry of 3D movies. Hollywood production houses are releasing their movies in India at the same time as their global releases. We expect about 50 per cent of our revenues to come from such movies," Scrabble Entertainment's CEO Ranjit Thakur said in Mumbai.

Revenue from Hollywood movies has increased from a mere eight per cent in 2008 to 18 per cent at present.

In 2009, the total box office collections stood at Rs 2,800 crore of which Hollywood movies contributed around 16 per cent at Rs 450 crore.

The figures are expected to touch 4,000 crore and 840 crore, respectively in 2011, Thakur said, adding that the Hollywood films would contribute around 21 per cent to the total box office numbers.

Thakur attributed the growth in revenue-figures to the changing lifestyle of the people, an increase in income, revolutions in the technology space and a spurt in the number of multiplexes.