“The industry is going through an incredible shift as it is breaking long-standing patterns. A space is created for new voices to emerge, particularly independent producers who champion a culture of collaboration and teamwork,” said Shikha Kapur, founder of Source Global, a content studio.
Echoing a similar sentiment, Rahul Merchant, managing partner of Mayavi Entertainment, said: “Independent producers who are guided by passion and are open for skilful, strategic collaborations are needed more now than ever. We are seeing more independent producers collaborating with each other based on their synergies.”Producers seek funding through various routes. These include collaborating with studios, selling rights – digital, music, overseas dubbing and satellite – bank loans (interest rates are as high as 12%) and private financing (two times the bank rates). They also raise funds from long-term private equity investors by offering stakes in their production companies, wealthy individuals and even friends.
After the pandemic, independent producers suffered huge losses as the economics of making Hindi films changed significantly. But in recent years, two favourable developments have provided renewed confidence for them. One is the improving footfalls in theatres, as indicated by the huge success of the Hindi-dubbed Pushpa 2 and the performance of the Sky Force. The other development that these producers consider encouraging is streamers using box office performance as the sole yardstick to buy films.
“The sentiment in the industry is changing. Footfalls in theatres are improving. Recent films have shown reasonably good performance,” producer and film business expert Girish Johar said. “These facts have provided confidence to independent producers who are passionate about their stories to collaborate. I see more synergetic collaborations between independent producers.”
Sector experts are of the view that increasing collaborations among independent producers will start bearing fruit in terms of new releases in 2026 as films will go on the floors in 2025.
Karmic Films cofounder and director Suniel Wadhwa said: “This is an era of coexistence. Today, independent producers are no longer solely dependent on traditional studios to greenlight projects. With evolving audience preferences, new funding avenues, and technological advancements, independent producers are driving fresh narratives and innovative business models while still working alongside studios to maximise scale and reach.”
Even though the rise of independent producers is reshaping the industry, studios still remain an integral part of the production ecosystem, he added.
A studio makes four to five films a year in Hindi. Some 400-500 Hindi films are produced annually. This shows that there is tremendous potential for independent producers to collaborate and make films.
