The lockdown in the wake of Corona also had an impact on the film industry. Movie releases dropped significantly last year. That is why it can be said that the reason for the decline of collections …
Box Office Collection Drop: Box office receipts in the Indian film industry fell by 85 per cent in 2020 compared to previous years. Box office receipts were Rs 861 crore in 2020 and Rs 5,613 crore in 2019, reducing collections by 85 per cent. In fact, according to the Care Ratings report, revenue rose 30 per cent to Rs 309 crore from Rs 4,422 crore in 2018. However, the lockdown in the corona background also had an impact on the film industry. Movie releases dropped significantly last year. Hence the reason for the decline of collections. Last year 7 films were released between November 15 and December 25. Then the revenue was Rs 36 crore. However, the remaining 68 films will be released between January 1 and March 13 at a cost of Rs. 825 crores at the box office. However, in 2019, 246 films collected Rs 5,613 crore.
Taking into account the financial position of 44 companies in the film production, distribution and entertainment industry. The total cost of theaters was also reduced by almost three-quarters. With the closing of theaters during the corona, the cost of theaters has come down due to layoffs, reduction of salaries, reduction of electricity and water charges.
Several changes have taken place in the relevant lease agreements due to the epidemic. The central government has allowed the re-opening of cinema theaters for spectators with a seating capacity of 50 per cent from October 15, 2020, while reducing the rent and general share charges due to the reduction in rent and revenue share post openings. However, the reopening of the films was done at the behest of various state governments. Still, many filmmakers are not comfortable with the theatrical release, as release dates have yet to be announced.
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