The COVID-19 pandemic has been taking lives across the world and affecting the world economy on a large scale as well. Currently, in order to maintain social distancing, theatres have been closed down, big events are shelved and film shoots are stalled during the lockdown to curb the spread of the virus. With the Indian film industry shut down since more than a month now, according to the latest reports, the industry might suffer losses up to Rs 2500 crore as theatres have been shut down due to the Coronavirus lockdown. Read On
According to a report in CNN, as per trade analyst Komal Nahta, the Coronavirus lockdown might result in the Indian film industry suffering major losses of up to Rs 2500 crore and can also force top actors to take pay-cuts once everything gets back to normal. The report stated that with the shoots of film stalled and theatres closed down during the lockdown, the entertainment industry in India might suffer big losses.
In the report, explaining the situation after the lockdown is lifted, trade analyst Komal Nahta said that even if theatres open up, they will not operate at the capacity they do normally, due to social distancing. Explaining further, the trade analyst shared an example that with the theatres in China, if the theatre owner is selling tickets considering social distancing, the capacity will be reduced as they will have to sell every seat keeping one vacant in between. The trade analyst further mentioned that in such cases, the theatres could not support the budget of big films with some of the top actors then required to take pay cuts.
Meanwhile, speaking about the issue further, in the report, trade analyst Komal Nahta, biggies both in front of the camera and behind it will be required to take pay-cuts. On the other hand, the trade analyst also explained that as the revenue of Indian films is based on overseas released, there is a possibility that may cause issues in the revenue generation as theatres worldwide are shut down. Also Read: CORONAVIRUS SCARE: Meeting Between Reliance Entertainment And Sooryavanshi, 83 Makers Underway To Delay The Release Of The Films- EXCLUSIVE
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