A joint study by The Associated Chambers of Commerce of India and Deloitte has found that Bollywood is likely to earn revenues of more than Rs 19,300 crore by the next financial year, PTI reported. The report listed marketing campaigns, rising contribution from overseas markets, better quality movies, a higher number of multiplexes and growing digitisation of the industry as reasons behind this revenue growth.

“Box office collections in India that are estimated at over Rs 11,500 crore are likely to cross [the] Rs 14,200 crore-mark by 2017 and will account for about 74% of the majority of Bollywood revenues,” the joint study said, adding that overseas box office collections are likely to cross Rs 1,300 crore from the current value of around Rs 1,100 crore.

Cable and satellite rights will also see growth as a result of the rising demand for movies on television and the reach of smartphones. However, the compounded annual growth rate of the home video industry will witness a 10% drop in revenue due to rampant piracy and the popularity of digital platforms.

The Hindi film industry, which is currently valued at Rs 15,500 crore, is one of the world’s largest film production centres. In comparison, Hollywood movie Star Wars: The Force Awakens, which released worldwide on December 18, already has a global collection of as much as $1.510 billion, or nearly Rs 100 crore.