Lights, Camera, Merchandise: Will Bollywood Pick up the Merchandising Trend?

Reliance Entertainment's 1983 World Cup-based movie, "83," set the mega trend of movie merchandising and collaborations with over 30 brands banking on the hype of the film's storyline and top star cast such as actor Ranveer Singh and Deepika Padukone. The global movie merchandising market is forecasted to be the size of USD 35,070 million by 2028. With Gen Zs and Gen Alpha closely associating with movies and web series, brands are closely monitoring this space to engage with the growing trend.

According to Market Analysis and Insights: Global Movie Merchandise Market report, the merchandising industry is growing with a CAGR of 2.3 percent during the forecast period of 2022-2028.

Banking on Merchandising Trend

In a much-awaited franchise, Ghostbusters: Frozen Empire, over ten brands have associated with Sony Pictures. The consumer products program, anchored by licensees, including Hasbro, Funko, Timberland, and Kellogg's, aligns with a new phase in the "Ghostbusters" franchise, marked by the arrival of Sony Pictures Entertainment's latest film, "Ghostbusters: Frozen Empire," which premieres March 22.

Jamie Stevens, Executive Vice President, Worldwide Consumer Products, Sony Pictures Entertainment said, "As we embark on the newest adventure in the 'Ghostbusters' franchise, a property that has been uniting fans across the world for generations, we have developed a truly robust consumer products program that invites fans to evoke the excitement and adventure of 'Ghostbusters: Frozen Empire' into their own lives."

Stevens further said, "Complete with fun, unique, and high-quality merchandise that spans categories, our collection is an open invitation for fans to embark on a thrilling and chilling journey as they gear up for the 'Ghostbusters: Frozen Empire' theatrical release and as they celebrate the franchise well beyond."

Similarly, The ICEE Company will launch new beverage blends inspired by the "Ghostbusters: Frozen Empire" movie. As per the agreement, it will introduce four new drinks alongside new items that feature the anticipated movie. Fans can buy Ghostbusters: Frozen Empire-themed branded cups that go well with the popular "Ghostbusters" Proton Pack.

Kimmra Hingher, Vice President of Marketing, The ICEE Company said, "We are excited to bring the fun of Ghostbusters to life. Both ICEE and Ghostbusters are cross-generational brands that adults and kids can enjoy, and we are thrilled to help bring the latest installment to life with a range of limited-edition flavors inspired by the movie franchise." "While most of the flavors are a fun new take on some of our most beloved ICEE classics, Mischievous Mini-Puft is a completely new flavor profile for us, so fans of all ages can let the kid out with this playful addition," said Hingher

Will Bollywood Pick up the Trend?

The growth of movie-based merchandise in global markets have also kicked in a craze for merchandise products in India. Be it Bollywood or anime, Indian fans are not only actively indulging in enjoying the content but are also building a bond with the movies and web series with collectibles and memorabilia.

According to the Ormax Box Office Report 2023, Indian box office grossed Rs 12,226 crore last year, making it the first-ever year to cross the Rs 12,000 crore mark. In 2019, the Indian film industry box office was at Rs 10,948 Cr gross.

According to the report, Hindi cinema saw its best-ever year in 2023, with a gross box office of Rs 5,380 crore, crossing the Rs 5,000 crore mark for the first time. Hindi cinema's box office share (44%) reached the pre-pandemic level of 44 percent, up from 33 percent in 2022. While Tamil and Telugu languages held on to their share, Hollywood and Kannada cinema lost their share compared to 2022, moving down from 12 percent to 9 percent, and 8 percent to 3 percent, respectively.

Homegrown franchise of Krrish and Dhoom have successfully managed to create hype around its films with merchandise and have also managed to generate revenue from its multiple collaborations and licensing deals. Today, there are multiple online websites which provide merchandise of popular Bollywood films. The recent popular film 'Fighter' launched merchandise ranging from trendy apparel and accessories to coveted collectibles and memorabilia.

Collaborations for 'Ghostbusters'

Frito-Lays has announced the return of Cheetos Flamin' Hot Smoky Ghost Pepper Puffs, and best yet, the fan-favorite flavor has received Ghostbusters: Frozen Empire branded packaging. The Ghostbusters' newest recruit, the eye-catching bag includes Chester Cheetah wearing the iconic tan khaki uniform and Proton Pack.

Other innovative collaborations such as Timberland x "Ghostbusters" Premium 6-Inch Wheat Nubuck and Timberland x "Ghostbusters" Premium 6-Inch Black Nubuck with Camo, reimagined from the Original Timberland Boot with inspiration from the movie's ties to New York City and nods to the "Ghostbusters" universe. Hasbro has collaborated with the movie franchise for providing variety of toys and action figures based on the movie, allowing fans to save the world from a second ice age.

While AMC Theatres, the largest theatrical exhibitor in the United States announced that with the opening of "Ghostbusters: Frozen Empire," moviegoers will be electromagnetically drawn to AMC Theatre's near prop-replica-quality Ghostbuster Ghost trap popcorn vessel and other unique, Ghostbuster merchandise and apparel.

Hank Green, VP, AMC Food and Beverage said, "We think the spirit will move a lot of moviegoers to snap up these vessels and apparel available only while supplies last. So don't be forever haunted by missing out on these crazy cool Ghostbusters popcorn vessels, special drinks, merchandise, and more."

It will be interesting to see if the trend of merchandising catches up with Bollywood moviegoers, as the industry continues to innovate and adapt to changing consumer preferences, the integration of merchandising into the Bollywood ecosystem holds promise for enhancing fan engagement, driving revenue streams, and further cementing the cultural impact of Indian cinema on a global scale. It will be fascinating to observe how this trend unfolds in the coming years, shaping the intersection of entertainment and consumer culture in the digital age.