Radhe, Sooryavanshi or '83 May Not Release Immediately After The Lockdown is Lifted - Here's Why
Movies like Sooryavanshi, Radhe or 83 can be seen as a means to revive the fortunes of Bollywood which is reeling under losses due to COVID-19. But it won't be that easy.
Coronavirus spread has not only led to the loss of lives and loss of jobs but the global economy is in doldrums too. The lockdown in various countries is affecting revenues which will take some time to recover. The film industry in India is going through a terrible phase with cinemas shut. We already told you how the first quarter saw a loss of Rs 400 crore this year and now, this loss is mounting. As per Trade Expert Girish Johar, the industry has already lost close to Rs 1000 crore. If you are expecting Radhe, Sooryavanshi or '83 to revive fortunes, that may not be immediately possible. Coronavirus Effect: Salman Khan’s Radhe: Your Most Wanted Bhai May Not Release on Eid 2020 – Read Details
Johar informs, "Sooryavanshi was supposed to release but I believe seven days of work is still pending. '83 also has a few days of patchwork remaining. Radhe is not complete either. I think even if we get a go-ahead from the government to open cinemas in say June or July, films may not get an overseas release. Who will come in first or be brave enough to tackle the scare, depends on the filmmakers."
Johar had earlier stated how there's zero box office income for one month now. "It will go on for two months. I don't think cinemas will open so early. It's a huge loss. In one month, I think we have already lost Rs 1000 crores. If it goes on for another 6-8 weeks, you can only imagine what will happen. We will be knocked down this time as all the machinery will drown."
Elaborating further on the overseas bit, Johar adds, "Big movies get a major chunk of revenue from overseas from territories like Dubai, Middle-East, UK, North America, Canada, Australia. If they are still in lockdown, it's a huge revenue loss which I don't think any big film would want. That's because the costing of the film factor in such revenue options and big ones will drive the crowd."
He does agree that there will be some spike in demand for movies at the theatres when all this gets better. But that might not be enough. "There surely would be a spike in people going to watch cinemas because they want to go out. That's pent-up demand. Watching movies is a family activity. I presume a base minimum increase of 20% will be there thanks to the pent-up demand. Even if they decide to forgo 30% income that comes from overseas, there will still be a 10% loss. The small and medium films are a different equation altogether. If audiences don't watch them, it will get tougher."
(The above story first appeared on LatestLY on Apr 16, 2020 03:14 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).