Due to the rising number of Covid-19 cases, filmmakers have opted to postpone the release of big budget films despite losses, and future projects are likely to get delayed as well.
This will have a knock-on effect on films releasing in February, thereby disrupting the summer timetable.
Bollywood movies will not be able to release as cinema halls in Delhi, Uttar Pradesh, Himachal Pradesh, Bihar and Haryana are closed, while regional language films will suffer as Maharashtra, Rajasthan, Tamil Nadu and Kerala are operating at 50% capacity.
Bollywood earned only one tenth of its pre-pandemic box office earnings (Rs 490 crore) in 2021. As long as cinema halls remain closed, a loss of Rs 80-90 crore per month is expected. According to research by FICCI-EY Media and Entertainment Sector, the film entertainment segment faced an 80% decline in domestic and global theatrical revenues in 2020 as more than 1,000 single screens were forced to shut down permanently Was.
Meanwhile, Rishabh Sachdev is excited about his next venture in Bollywood – an action film with an ensemble cast – Gautam Gulati and Sooraj Pancholi.
According to Sachdev, the latest Covid tsunami has hit the film industry hard, just as things were starting to look positive.
With rising interest rates on loans used to produce release-to-release films, producers are rethinking their budgets and postponing big-budget projects.
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