Abstract
We review how the paraxial approximation naturally leads to a hydrodynamic description of light propagation in a bulk Kerr nonlinear medium in terms of a wave equation analogous to the Gross-Pitaevskii equation for the order parameter of a superfluid. The main features of the many-body collective dynamics of the fluid of light in this propagating geometry are discussed: generation and observation of Bogoliubov sound waves in the fluid of light is first described. Experimentally accessible manifestations of superfluidity are then highlighted. Perspectives in view of realizing analogue models of gravity are finally given.