News Corp. Chief Rupert Murdoch said that Indian film industry Bollywood is influencing Hollywood in every aspect both financially and creatively. This statement from the media baron becomes more important when it is said in the first ever World Media Summit in Beijing among 300 executives and journalists assembled from around the world.
Murdoch’s company News Corp. is pioneer in the field of movie production, distribution. Group’s 20th Century Fox film has numerous blockbusters in its kitty including multi-Oscar winner Titanic.
Murdoch said there is a lot of competition among media channels but India has welcomed this and allowed international companies in their domestic television market which has also prompted local companies to improve their quality. They are the great winners who feel pride in their global success and a choice of programs which was unimaginable a decade ago.
It is known that there have been increasing collaborations between the Indian film industry and Hollywood in the recent times. Earlier this year, billionaire industrialist Anil Ambani announced a partnership with ace film maker Steven Spielberg for producing films, in a deal worth millions of dollars and Slumdog Millionaire (a movie depicting India’s slum life) also won Oscar award for best movie this year.