Talking about movies, the entertainment industry thrives on consumers flocking the big screen which allows them to get cash registers ringing and rake in some moolah. With movie halls opening for a small window of time before shutting down in many states again, it has impacted the economic muscle.
Trade analyst Joginder Tuteja estimated that over Rs. 1000 crore is being lost every quarter. “Every quarter, at least Rs 1000 crore is being lost in terms of the box-office revenue. Typically, in a year, more than ₹4000 crore comes from the box office. We are losing money every month,” he said.
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Another analyst and producer, Girish Johar did a similar math. “In terms of the box-office numbers, we are looking at over ₹1500 crore losses in the first quarter itself. Due to the crisis, the festive weekends of the first month of the year are lost,” he says. Talking about the movies immediately being impacted with the Covid surge, Shahid Kapoor’s Jersey has been rescheduled, joining the long list of postponed releases which include films like RRR, Radhe Shyam, and Prithviraj. The outdoor schedules of many films have been affected, including names like Merry Christmas, Pathan, Tiger 3, Liger, and Rocky Aur Rani Ki Prem Kahani.
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Director Anees Bazmee spoke about the built up pressure they now have. “We have seen huge losses till now aur agar aise chalega, toh aur (losses) honge. It’s been happening continuously, bahut zyada bada setback hai” he said. The losses are running by the minute and with no immediate relief in sight, it looks like a scary time for movie producers.
Source: HT
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