Indian Film Industry Takes a $1b Hit at the Box Office
Box office receipts—which determine a film’s success or failure based on cinema occupancy and ticket sales—did not see a rise in cumulative collections for the first time in five years.
Trade analysts had projected a total earning of Rs 10,000 crore (more than $1 billion U.S. dollars) for the year, based on the announced film releases.
Instead, the Indian film industry has reported an estimated loss of Rs 5,000 crore ($667 million in U.S. dollars) after five months of the coronavirus lockdown, which closed cinemas. The figure takes into consideration films released in regional Indian languages like Hindi, Marathi, Telugu, Malayalam, Kannada and Tamil, along with revenue received from films released outside India.
Photo credit: sftimes