Coronavirus Outbreak May Cost Bollywood Rs 800 Crore
Trade experts talk about how the pandemic can affect the film industry.
Due to the coronavirus outbreak, over 3,500 theatres across the country had shut down by Sunday following government advisories. The film industry suffered a hit as major markets like Mumbai, Delhi, Rajasthan, Gujarat, Bihar and Punjab are experiencing complete shutdowns. The collections of Baaghi 3 and Angrezi Medium took a serious hit because of the pandemic.
Speaking to Mumbai Mirror, trade analyst Komal Nahta reiterated that the drastic fall in box office collections is because of the panic created among movie-goers.
“Baaghi 3 has suffered a loss of around Rs 25-30 crore. Even the weekend collection of Angrezi Medium has been affected. Not just that, because of delays in releases and shooting schedules, the Hindi film industry stands to lose Rs 800 crore.”Komal Nahta, Trade Analyst
Trade expert Taran Adarsh also told Mumbai Mirror that because the entire chain of production, distribution and exhibition of films has been stalled, monetary losses can amount to hundreds of crores. “Out of the 52 weeks in a year, quite a few of them have already gone. Once the situation returns to normal, films will clash with one another, cutting into each other’s business,” he said.
On Sunday, 15 March, filmmaker Ashwini Chaudhary put out a tweet saying, “Producer bodies decides to stop shootings of all films , serials , web shows etc from 19th March to 31st March.”
The letter said, “In view of the epidemic spread of Corona COVID19 virus throughout the world including India, an urgent joint meeting of IMPPA-WIPFA-IFTPC-IFTDA-FWICE held on 15-3-2020 unanimously decided to stop shootings of films, TV serials, web series and all other entertainment including digital formats from 19-3-2020 till 31-3-2020 as a result of health advisory, closure of all cinema halls, all sporting, educational institutes and entertainment events by the Government of India which has declared a medical emergency over the corona virus.
All units shooting till the stoppage comes into force have been strictly advised to follow all precautionary measures and preventive measures without fail.”
The letter also stated that the decision to begin re-shooting the films, web series and TV serials will be taken after 30 March once the situation is re-examined.
(Inputs: Mumbai Mirror)
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