Washington, Aug 2 - South Asian filmmakers, media watchers and viewers in the US are all agog about the mega-million deal between Indian business tycoon Anil Ambani and American filmmaking icon Steven Spielberg that they hope would one day bridge Hollywood and Bollywood.

Under the deal inked last month, Ambani's Reliance Big Entertainment would provide $825-million funding for Steven Spielberg's Dreamworks Studios to make six films a year for global audiences.

'It can only help bridge the gap between the world's two biggest film industries,' said indie filmmaker Anurag Mehta, best known for writing and directing 'American Chai' about an Indian-American college boy who pursues his rock n' roll dreams.

'I think anytime you have two powerhouses of media from both sides of the globe joining forces, you have to anticipate that the impact will be great,' the Los Angeles based filmmaker told IANS in an e-mail interview.

'Directly, their pledge to make pictures together will produce new films aimed at satisfying both audiences, but indirectly I think the impact will be greater.'

Gitesh Pandya, head of Box Office Guru and Indian media consultant to several Hollywood studios agreed saying, the 'deal helps ensure that one of the world's greatest filmmakers can continue to produce films and entertain audiences around the world.'

'It also shows Hollywood that there are other sources of capital besides Wall Street and Europe.'

New York-based film producer, Rohi Pandya too believes the joint venture 'opens up doors and puts focus on a region that has been making films as long as Hollywood and makes people realise that India is a major player in this industry.'

Mehta hoped it would help 'to bring into light that elusive 'crossover' market...because that will finally help greenlight a lot of interesting movies that typically encounter heavy headwinds from the powers that be.'

'There are many of us that have been trying for some years to find common ground between Hollywood and Bollywood, often left with a movie that is neither here nor there, in terms of finding audiences,' he said.

'And if the venture does indeed succeed, then I think we'll start seeing many types of films that we have not yet seen, and that is truly something to look forward to.'

Mehta also believes that the venture could lead to better Indian films more geared to global audiences.