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29 March, 2020 10:51:52 AM

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Bollywood looking at losses of Rs1300 crore due to Covid-19 lockdown

Independent Online/Hindustan Times
Bollywood looking at losses of Rs1300 crore due to Covid-19 lockdown

With fears of a global recession looming due to the coronavirus outbreak, India’s Hindi entertainment industry — one of the biggest in the world — is staring at a likely revenue loss of upwards of Rs 1300 crore, based on predicted domestic net collections of 12 big-ticket films that either released in March or were slated to release in April and May.


 
To be sure, these figures are average estimates provided by many industry trade analysts whom HT spoke to, and offer only an indication of how much money a film could have earned, based on factors like the number of shows and screens, the actors starring in the film, the previous work of the directors, the release period, and even consumer sentiment.

“In the last two years, the industry made around Rs 850-900 crore in net collections in the quarter April to June. We’re definitely losing that amount,” trade analyst Atul Mohan said.

Several of the upcoming films have also been forced to hold back releases in international markets as the Covid-19 pandemic that has infected over 549,000 people worldwide, has led to theatres closing down.

Markets like the UAE, United States of America, United Kingdom, Australia, and Fiji account for approximately 30 to 40% of a film’s overall box office collection.

To be sure, once the pandemic runs its course, these movies could release and technically recover costs. However, whether they will be able to do so will depend on several factors, including the state of the economy, the number of Fridays left in the year, and importantly, the movie-goer’s willingness to spend on tickets.

 

SI

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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