India's Bollywood film business is facing its own version of a horror movie as it reels from a crash in the price of film rights, competition from cricket broadcasts and a dispute with multiplex operators.
Acting stars in the world's most prolific movie-making industry have seen their fees plunge by up to 80 per cent from the peaks they reached last year, leading producers say.
In addition, there has been a “30 to 40 per cent fall” in the number of new films being approved for production, according to Ronnie Screwvala, chief executive officer of UTV Motion Pictures, which has produced movies in partnership with Twentieth Century Fox.
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