COVID-19 fallout: A setback for exhibitors as cinemas continue to remain shut in Maharashtra

"Exhibitors were keen on getting some kind of relaxation in Maharashtra because it has been a long time since theatres have been shut. On one hand there is no form of relief, on the other we aren't allowed to function. For a state which calls itself the home for Hindi films, the decision is bizarre," Akshaye Rathi, film exhibitor/ director, Saroj Screens PVT Ltd, told Moneycontrol.

Maryam Farooqui
August 02, 2021 / 10:12 PM IST
 
 
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While exhibitors were expecting Maharashtra to allow cinemas to reopen, the state government's order dated August 2 has turned out to be a disappointment for theatre owners.

"Exhibitors were keen on getting some kind of relaxation in Maharashtra because it has been a long time since theatres have been shut. On one hand there is no form of relief, on the other we aren't allowed to function. For a state which calls itself the home for Hindi films, the decision is bizarre," Akshaye Rathi, film exhibitor/ director, Saroj Screens PVT Ltd, told Moneycontrol.

Saroj Screens, a chain of single screens operates in Maharashtra and in Chhattisgarh.

He added, "Producers of big-ticket films are not looking at releasing films without Maharashtra because for Hindi films the state contributes 25-30 percent of box office collections."

Currently, only one Hindi film has announced a release date. And with Maharashtra remaining shut, the film is likely to see a significant impact on its business.

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Bell Bottom which will hit theatres on August 19 is the first Hindi box-office release to hit cinemas post the Covid-19 lull this year. The film is expected to do a business of Rs 75 crore.

However, Karan Taurani, senior VP, Elara Capital, said that the upcoming Hindi venture Bell Bottom starring Akshay Kumar will see a 20 percent impact on its box office revenue due to theatre closures in Maharashtra.

An impact on box office business of a big-ticket Hindi venture like Bell Bottom will have an impact on the business of both multiplexes like PVR, INOX and single screen cinemas.

He also expects the decision to impact business of Hollywood films releasing in India. There's a strong lineup of English films including Fast 7 Furious 9, Conjuring: The Devil Made Me Do it, among others.

"Films that are releasing in theatres will see high impact because for Hollywood Mumbai as a circuit is higher than 20 percent in terms of box office business," said Taurani.

The negative impact on box office collections of upcoming ventures is likely to discourage producers to release their films in theatres.

This is why Rathi said, "I really hope a pragmatic decision is made and some concrete measures are rolled out for cinemas and we are given permission to reopen."

Taurani expects cinemas to reopen in next two to four weeks in Maharashtra.
Maryam Farooqui
Tags: #coronavirus #Entertainment
first published: Aug 2, 2021 10:03 pm