Columbia Tristar India, Sony Pictures' Indian wing, created history last year by becoming the first Hollywood company to cross the Rs 100 crore mark at the Indian box-office. 
Just six years ago, the same distribution house managed a business of a mere Rs 4 crore.
While nearly 30 per cent of this figure came through the contribution of Indian English films like Mira Nair's Monsoon Wedding and Gurinder Chaddha's Bend It Like Beckham, and Bollywood flicks like 16 December, which were distributed by Columbia Tristar, the 70 per cent chunk came from distribution of films from the Columbia Pictures and Buena Vista International stables.
This, in a year when Bollywood had its worst run in recent history and managed just one major hit in Raaz. Says Uday Singh, managing director, Columbia Tristar India, "Unlike the local industry, we had a spectacular line-up of films last year, which is the main reason we stand out. We proved to be the 14th biggest market in the world for our company. Not so long ago, we were at the bottom of the heap."
Columbia Tristar India's dream run was fuelled by the enormous success of Spiderman which released in the first quarter of the year The friendly neighbourhood comic character generated the largest opening weekend in box-office history for the foreign language film category with collections adding up to Rs 5.3 crore. Released across 250 screens all over India, Spiderman ended up with impressive gross collections of Rs 28 crore (about $5.8 million). But when compared to the film's US collections of over $400 million, the Indian contribution is obviously a miniscule morsel.
Yet, there is reason to cheer. Just a few years ago, Hollywood films had a tough time getting a decent release. Today, the blockbusters compete with Indian films. Last year, Hollywood managed half-a-dozen hits in India, including Spiderman, XXX, Minority Report, Harry Potter & The Sorcerer's Stone, Lord Of The Rings and, of course, Die Another Day.
"Till about 10 years ago, there was a restriction on the number of prints that could be brought into India. We could only import 15 prints per film. Besides which, the government procedure for bringing in films was so long drawn that it was impossible to release a film till at least four months after its US release," says Paresh Manjrekar, sales and marketing manager, 20th Century Fox, India.
The relaxation of import rules allowed 20th Century Fox to release Die Another Day within weeks of its US release with as many as 280 prints (including the dubbed versions) -- a record for Hollywood. Kaante, which released the same day, had exactly the same number of prints in India.
Die Another Day has grossed Rs 15 crore (about $3.1 million) so far in India; its US collections are over $150 million.
"We are still not among the important international markets for Hollywood," says Manjrekar. "The basic reason for this is that ticket rates in India are far below other markets. While the minimum ticket price in the US is $1, in India, the average price is Rs 23, which is less than half the US rate," he adds.
Even now, Hollywood accounts for a mere 3 per cent of the Indian movie business. Thanks to the steady burst of multiplexes in urban areas, there is hope its future will shine brighter. Says Singh, "The market is at a beautiful stage right now. Smaller theatres are easier to fill up. The advent of multiplexes allows us to bring in niche films that may appeal to a select audience. Also, we believe a good marketing and promotional campaign can swing business by 40 per cent."
Neither Bollywood nor regional cinemas in various states can blame their failure on the advent of Hollywood. Says Manjrekar, "Last year, a few distributors and exhibitors complained we were a threat to them. But this is far from true. We are not in competition with Bollywood. We are just eating our small piece of the cake."
