Who lost Spielberg, UTV cracks US Top 20 and Snoop goes Bollywood

An assortment of news with an Indian flavour in the last few days.

It is talked about as if the ink is dry on the paper, but this article from the New York Times gives a bit more context to the Ambani-Spielberg/Reliance-Dreamworks deal under negotiation, particularly the financial climate in which an Indian conglomerate trumped Hollywood studios and traditional investment banks to the world's most commercially successful director:

But there was still an element of shock [following the announcement of the Reliance negotiations]: Hollywood could not come up with a rich enough deal for Mr. Spielberg, the most bankable director in the business and a “national treasure”? His last movie alone, “Indiana Jones and the Kingdom of the Crystal Skull,” has sold $743 million in tickets and is still playing in theaters around the world.

For that matter, there wasn’t anybody on Wall Street willing to write a blank check for the guy with “Jaws” and “Jurassic Park” on his résumé?

The pending deal with Reliance underscores some realities about Mr. Spielberg — mainly that he has become so expensive that few public companies can afford him. Mr. Spielberg’s standard deal, on par with other blue-chip talent, is 20 percent of a movie’s gross from the first ticket sold, although he agreed to a somewhat less aggressive paycheck on the latest “Indiana Jones” installment to offset its high budget.

And:

Hollywood’s seeming inability to close a deal with Mr. Spielberg highlights the shift toward a more corporate, buttoned-down movie business. Just a few years ago, bragging rights often drove business decisions. Steven Spielberg is available? Back up the money truck. We want that jewel in our crown no matter what the cost. And studio bosses could justify such ego-driven loss leaders: In the entertainment business, talent draws talent.

And:

As for Wall Street, the firm belief in Hollywood is that the arrival of Reliance marks the end of the private equity and hedge fund boom that has propped up the industry. With the capital markets in turmoil, terms have tightened substantially for movie deals. Investors are demanding faster payback schedules, better guarantees and even a say in how movies are made and marketed.

So out with the Germans and in with the Indians, confirming once again that Hollywood is colour blind when it comes to foreign investment, as long as it is dollar-green.

Elsewhere follow Indian company UTV has just cracked the Top 20 US distributors list on the strength of several Bollywood hits. From THR.com:

UTV Motion Pictures said Monday that it earned $5.48 million from ticket sales in North America in the first half of the year, becoming the first foreign-language distributor to rise into the ranks of the top 20 distributors in the territory. North America's growing South Asian population flocked to see such UTV releases as the historical epic "Jodhaa Akbar," which earned $3.44 million in ticket sales; action-thriller "Race," which earned $1.37 million; and recent musical release "Jaane Tu Ya Jaane Na," which has earned $539,857 so far.

Not bad, but I am sure that the likes of UTV and Eros can and will climb even higher than this, possibly all the way up to the Top 10.

An unlikely convert to all things Bollywood is bad dog rapper Snoop Doggy Dog. But soon he will be seen duetting on the big screen with Bollywood's comedy star du jour Akshay Kumar. Sayz the Snoopster himself in IHT.com:

"I really dig how much music is infused with the movies" in Bollywood, Snoop Dogg said in an e-mailed response to questions. "Lots of hip-hop tracks sample Indian music, and a lot of their music sounds like it was influenced by hip-hop," he said. "We're putting together something real big" in India, that will include collaborations, live shows and "more movies with some of my Bollywood homies."

"I'm coming to take over Bollywood," Snoop Dogg promised during the video shoot. "I've never been able to come over there and do shows for you all, but now I'm going to come and do shows," he said in a clip that the video's promoters put on YouTube. "This is just the beginning."

I for one can't wait.