Akshay Kumar, Ranveer Singh, Aamir Khan, John Abraham, and Kartik Aaryan are among those who are eagerly awaiting the state’s reopening of theatres so that new films may be released.
The Hindi film business hasn’t fared much better in 2021 after losing over Rs3,000 crore in 2020. As the third quarter of the year draws to a close, Bollywood has already lost Rs3,000 crore this year.
Bollywood films grossed more than Rs4,300 crore at the box office in 2019 – the biggest year in the industry’s history – and 2020 and beyond were projected to be much larger and better. The epidemic, on the other hand, hit hard, and theatres haven’t reopened since April 2020.
Back of the envelope calculations reveal that the epidemic has cost the country approximately Rs6,000 crores in earnings over the last six quarters.
Things were anticipated to improve at least by the third quarter of 2021, with the epidemic waning in most regions of the nation (with the exception of Kerala) and nearly all companies progressively returning to normal.
Over 794 million Covid vaccinations have been provided across the country, with over 21 million injections delivered on September 17. People have, for the most part, begun to venture out while taking Covid-specific precautions. Restaurants are filling up again, planes are flying again, religious sites are available to the general public, and streets are once again packed.
Despite this, the entertainment industry, particularly the big-screen industry, continues to struggle.
The 50 percent occupancy requirement is still in effect in most jurisdictions, at both single screens and multiplexes. Yes, Rajasthan just claimed 100 percent occupancy, but other states have yet to follow suit, particularly Delhi NCR, which accounts for a significant portion of the film industry.
Of course, Maharashtra has yet to allow theatres to reopen.
