India's new labor codes may raise film, streaming costs 15%-20%
India's new labor codes are about to make movies and streaming shows more expensive to produce: Costs could jump by 15% to 20%.
The rules, designed to better protect gig and freelance workers, mean companies must now stick to regulated working hours and pay for overtime.
Rajat Agrawal from Ultra Media and Entertainment Group points out this also means higher contributions for things like provident fund and gratuity.
Production houses consider virtual production tools
To handle these changes, production houses are looking at smarter planning and tech upgrades: think virtual production tools.
Sanjay Dwivedi of Balaji Telefilms Ltd. says better production planning, improved scheduling efficiencies, and technology-driven production management to optimize costs will help keep projects running smoothly while staying within the new rules.
All in all, it's a big shift aimed at balancing worker rights with keeping the industry financially healthy.