Bolly sensex

The financial crunch is hitting people at all levels, and it looks like Bollywood is not exempt. Financiers are facing a credit crunch, resulting in production houses facing cash flow problems, and fewer movies being made. Big budget films are being shelved, and the stars are being asked to cut down on their demands.

Production houses on a budget

The days of multimillion dollar budget films are over.

Pritish Nandy communications (nine films in the pipeline) and Future Picture Company (Heroes) have cut back on publicity spending and asked their stars to take a pay cut.

Even TV18 is said to have backed out of Vipul Shah’s London Dreams. Shah said, “Studio 18 hasn’t given an official statement saying they are no longer part of the project, but we have mutually decided to re-look the project after it is complete.”

Eros International was so badly affected by Drona’s debacle they had to fire some staff. Even Ekta Kapoor’s Balaji Motion Pictures and Sanjay Dutt Productions had to break off their nine-film deal worth nearly Dhs373 million, after Balaji’s production EMI, starring Sanjay, bombed.

Looks like the honeymoon period of Bollywood and the big bucks has now ended.

The new age stock guru

Salman Khan doesn’t seem to be feeling the pinch when it comes to money.

In a recent interview, Salman waxed eloquent on the recession and how it has skipped by him, by saying, “Guess what? I have just increased my price. As far as I see it, the question of production houses slashing money given to actors is nothing but a gimmick. Many of them are just trying to take advantage. It’s all very exaggerated.”

He went on to add a splash of optimism in a darkly pessimistic scenario by advising that, “Instead of worrying about the global meltdown, this would be the best time to invest in the stock market. Though I am not an investor, I think it’s the best time to be one. If I were you, I would put my money into the market.”

Maybe after Yuvvraaj tanked, he has put his money where his mouth is? Or perhaps this is all just another case of foot-in-the-mouth disease!

Wanted dead and alive

While talks of Veer being delayed due to the economic downturn have been pooh-poohed by Salman, it looks like the Boney Kapoor production Wanted Dead And Alive may be a victim of the crunch.

Salman says, “The film is (almost) complete. Two songs are left which could easily be shot here, but Mr Boney Kapoor wants to shoot them in Greece. He may not be in the best of positions as a producer, but he still believes in grandeur.” Ouch! Salman is cattier than we are!

Last heard

Producer Bhushan Kumar has requested Salman to reduce his price for a film to be directed by Anees Bazmee.

Untouched-by-recession Salman retaliated by pulling out of an appearance he was scheduled to do for Bhushan Kumar’s other film Kajra Re, starring his protégé Himesh Reshammiya.

Masala says

Dude, companies are shutting down! People are losing their jobs! Wake up and smell reality!

Why we should be grateful for the financial crunch

No money for bad and inexperienced filmmakers

Farhan Akhtar went on record to say: “Only those filmmakers with a high creative quotient will survive.Movies heavily laden with gadgetry and sci-fi are likely to take a backseat. Having said that, I am going ahead with the making of my big budget film Don 2.”

No more sci-fis

Harman Baweja, who debuted with Love Story 2050, said: “The recession has hit everybody across the globe. When Love Story 2050 went into production three years back, there was a Bollywood boom. But I wonder if such a movie would have been made in today’s climate.” All together – Phew!

What they said what they meant

What Madhur Bhandarkar said:

“I would have cut corners and made Fashion on a more modest budget. But I am glad recession has set in. In the last year, actors had begun demanding astronomical amounts and movies were being planned indiscriminately with massive budgets in mind. Now is the time for simple story telling and stellar scripts. I look at it as a much-needed reality check.”

What he meant

Thank God I finished making Fashion. I don’t care if other filmmakers are now stuck with their inflated designer gown costume bills.

What Arjun Rampal said:

“It’s extremely unfortunate that there could be pay cuts. But, I suppose that such a reality check was required. It will affect actors who demand sky-high prices. But as for me, I ask for a reasonable amount.”

What he meant

Now I am almost on a par with some of the Khans when it comes to the signing fee.

What Goldie Behl said:

“I am adopting the ‘wait and watch’ policy, and I have taken a decision to direct only medium-budget movies that are viable.”

What he meant

No one is willing to trust me with any more funds.

What Shiney Ahuja said:

“Fortunately, none of the production houses that I am currently working with have even proposed a pay cut. It has not affected me yet.”

What he meant

I get paid too little anyway – so there is no question of cutting it further.