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Big films like Sooryavanshi, Radhe, 83 lined up to avoid a clash with each other

April 7th, 2020 | by vBollywood Author
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Big films like Sooryavanshi, Radhe, 83 lined up to avoid a clash with each other
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The world is dealing with coronavirus and fearing a global recession. India’s Hindi entertainment industry is known to be one of the biggest in the world is expected to suffer a huge loss of an estimated Rs 1300 cr. According to the report in Hindustan Times, the film business will face massively as the 12 big films which were supposed to release in March-April are postponed. The film is based on factors like the number of shows and screens, the actors starring in the film, the previous work of the directors, the release period, and even consumer sentiment with the film, HT reports that various trade analysts believe that Rs 1300 crore is just the estimated number and can rise as well. The publication quoted Trade Analyst Atul Mohan saying, “In the last two years, the industry made around Rs 850-900 crore in net collections in the quarter April to June. We’re definitely losing that amount.”

Not only in India, the release of the movies has been stalled all around the world. The report suggest that since the International markets like the UAE, United States of America, United Kingdom, Australia, and Fiji account for approximately 30 to 40% of a film’s overall box office collection, the industry is set to witness a huge loss.

Limited number of Fridays are left in this year, Bollywood movies will be stacked for a release and box office collection will witness a tough competition. Big budget films like Sooryavanshi, Radhe, 83 and others have already worked hard to avoid a clash with each other.

Superstars such as Salman Khan and Akshay Kumar collide at the box office, fans are already waiting to watch the films. According to the report, the weekend collection of both films was pegged at a conservative estimate of Rs 175 crore but now that the films have completed yet due to the lockdown, there is little hope that they will release on May 22.

HT quoted Taran Adarsh saying, “Even if say that the total business for each of the films (Radhe and Laxxmi Bomb) is Rs 200 crore, cumulatively that would mean Rs 400 crore, and this is when the business is going right. In the Eid weekend alone, the films could have made Rs 175-200 crore. That’s what we are looking to lose on that particular weekend.”

According to Atul Mohan, the film industry was expecting to make Rs 500 crore in net collections in March based only on the three big releases: Baaghi 3, Sooryavanshi and Angrezi Medium. Tiger Shroff’s Baaghi 3 picked Rs 92 crore after being made on a budget of Rs 70 crore. Irrfan’s Angrezi Medium faced a blow as it released just a few days before the situation became worse in the country. On March 15, the film shooting in all formats – television, web or film were stopped till March 31. On March 24, PM Modi announced a 21-day national lockdown that will end only on April 15.

“When this outbreak started, we predicted losses of approx Rs 600 to 900 crore for the industry, but now, it’s uncertain. If you notice, the statements issued by production houses or filmmakers only say they’re postponing the release, but there’s no date. Because nobody can say for sure. It could be June, July or August,” Taran Adarsh said.

Bollywood and even Hollywood films will also suffer in the Indian market. Films like No Time to Die, Wonder Woman, a DC superhero production have been pushed ahead. “Last year, Hollywood films which were released in India made approximately Rs 1,400 crore, in 2018, the amount was about Rs 1,000 crore and in 2017, it was some Rs 50 crore. This year, we haven’t had any major Hollywood release in the first quarter, and now the ones coming out have been pushed,” Mohan said.

It is “inappropriate to put a number in terms of quantum of loss” Rathi said, as one could not be sure of the “longevity of this (pandemic) or its geographical impact”. “It’s not absolute loss but delayed profits,” he said.

The trade analysts also expect that many films will make it to the web if the situation worsens. With just half a year left, many big releases will mark the Friday which will force the other films to make their way to the web rather than have a theatrical release.

Photo courtesy: www.indiatvnews.com/entertainment/bollywood/

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