18 May 1912: The birth of Bollywood with the release of India's first film

Shree Pundalik, arguably India's first home-grown film, sparked the hugely successful Bollywood film industry when it was released on this day in 1912.

India's film industry, AKA “Bollywood”, is huge. Every year, it churns out three times the number of films made in Hollywood. And in 2012, it sold 2.6 billion cinema tickets, compared with Hollywood's 1.4 billion – quite a feat, given that India has just 13,000 cinema screens, compared with America's 40,000.

True, the box office take is dwarfed by Hollywood's – just $1.6bn compared to $10.8bn. But the average Bollywood blockbuster costs just $1.5m to make. In Hollywood, it would set you back up to $50m.

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Ben Judge

Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.

Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. 

As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.