Experts reveal a downfall in the box office numbers, the second wave going to heavily impact business
Like any other sector, the film industry is also going through criss during the ongoing coronavirus pandemic. Experts project that Bollywood has suffered much more during the second year of the pandemic rather than the first one.
A possible reason for this might be the assumption that after 2020, the infection rates will decrease and everything will return to normal but on the contrary, the second wave has proven to be more fatal in India. This has essentially caught directors and producers off guard and now they are suffering with their most ambitious projects on the line.
The department experts reveal that there will be no improvement this year too as far as the film business is concerned and moreover there will be significantly larger loss in the movie economics in 2021. Big banner movies or movies starring big names of the industry will most likely be postponing their movies yet again and continue to wait for theatres to open.
The biggest concern among the analysts of this entire situation is the fact that there is no confirmed time duration of the pandemic. People and staff units of the movie business are eagerly waiting for everything to go back to normal but it cannot be said for certain, how long will take for it to happen. Hence the uncertainty has led analysts to believe that Bollywood may incur 3,000-4,000 crore loss for Bollywood this year alone.
Till March, Box Office could only earn close to Rs 50 crores, which is less than half the income of the movie industry in normal circumstances. The editor of a trade magazine Atul Mohan said that if the first quarter was so bad with little relief in Covid-19 cases then the second quarter in no way can make any money as teh infection rates are on a steep rise.
The closest release date for an average to large scale movie can now be expected in June but before that, there is little to no hope for the movie business to strike back. Some big names, releases are lined up for Independence Day weekend also, which means that a possible graph on the improvement can be drawn only after August.
Mohan added, “Many other theatre owners are desperate to exit the business, and I don’t see the box office catching up anytime soon.” He also said that it will continue to be a gloomy year and there is no hope as of now for the revival of the business.