Indian theatrical at massive loss of ₹3,000 cr in total

India’s film exhibition market sees little hope ahead even as many other businesses are looking at the upcoming festive quarter beginning October 2020 to maximize sales and make a come back after a dismal financial year. The theatrical market is staring at losses of almost ₹3,000 crore across languages in the six months that theatres have remained shut since March, trade experts say. Of these, Bollywood or the Hindi film industry accounts for around ₹2,000 crore.

Film trade and exhibition expert Girish Johar said, “The covid-19 pandemic has had a crippling effect on the film industry.” He added, “And we’re not even talking of the losses for allied streams of revenue, like tourism or hospitality industries when units travel for shoot, or food and beverage, merchandising, advertising for radio, television or even digital platforms.”

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Reliance Entertainment Group chief executive Shibasish Sarkar had said, “In India thousands and millions have lost jobs or (suffered) pay cuts with no income of cinema hall owners. Halls are now closed for six months.” 

Atul Mohan, editor of trade magazine Complete Cinema said, “Things will get better once we are back in action for sure. We have to be optimistic but we can’t ignore the facts. Winter will set in post November and we know that the virus spreads in cold weather.”