'London Dreams' yet to be filmed but sold for a record sum

London Eye Twilight by Gary T PalmerThe distribution rights of filmmaker Vipul Shah's, yet to be filmed movie, 'London Dreams', have fetched $27 million. On the other hand Britain's Tourism arm Visit London is launching a £4m global ad campaign ahead of the Olympic handover to promote the capital as a tourist destination in the run-up to the 2012 Games. The international campaign will target markets including India. Is there any connection between the two?

Visit London, in an attempt to lure Indian tourists, had earlier published a Bollywood Map of the locations where more than 40 Indian films were shot. And in the middle of this campaign, 'London Dreams', a film based in London, has set a record in Bollywood, as the worldwide distribution rights of the film have been sold for Rs 120 crore ($27 million). The deal, which includes satellite, theatrical, video and music rights, is the first to cross the Rs 100 crore mark. Bollywood films are known to glamourise locations of London. Indian tourists prefer London over other world destinations.

Themed around the contemporary Asian underground music scene in Great Britain, the film 'London Dreams' is yet to be shot but the bidders anticipated a huge market in advance for three reasons. The film will be directed by Vipul Shah whose production 'Singh is Kinng' has become a Bollywood blockbuster this year. Secondly, it stars Salman Khan, Ajay Devgan and Asin, fresh from her role in Aamir Khan’s Ghajini. Thirdly, it's a lethal combination of London and its happening music. Shah's earlier film 'Namaste London' too was a blockbuster.

The film is about two childhood friends and their struggle to become rock stars in London.

The UK and Indian Governments signed the UK-India film co-production agreement this year. The treaty will enable UK and Indian filmmakers to work together to co-produce films that will be eligible for national status in both countries.

Bollywood films helped in getting more people to cinema halls in the UK as box office collections last year crossed the record £900 million mark. After the US, India became the second country in terms of maximum releases, leaving the UK at number 3, according to the Chief Executive of Britain's powerful Federation of Distributors' Association (FDA). A report published by the FDA in 2008 also reveals that, in the UK, more Pakistanis watch Bollywood movies than Indians.

"The Bollywood segment of the UK market goes on growing. It is rare nowadays for the top 20 films each week not to feature at least one Bollywood title," says Mark Batey, Chief Executive of the FDA in an exclusive interview with India-EU Film Initiative, a London-based think tank.

In 2007, there were 525 new film releases in the UK from at least 49 countries. According to Mark Batey, 2007 was a buoyant year in the UK theatrical markets. Box Office receipts topped £900 million ($1.78 billion) for the first time.