Movie News

Coronavirus Effect: Estimated Loss of 500-800 Crores to Film Industry

coronavirus

The entire market is being affected due to the Corona virus. Bollywood and the film industry are also not untouched by this. To avoid this, state governments have announced the closure of theaters. More than 3500 screens have been discontinued so far. Theaters in major Hindi films are closed in Mumbai, Delhi, Rajasthan, Gujarat, Punjab, and Bihar. At the same time, the release dates of many films have been postponed. The shooting of TV shows has also been stopped.

Also Read, The World Health Organization has started the #SafeHands Challenge with Celebrity

If the atmosphere continues like this due to Coronavirus, then the Hindi film industry is being estimated to lose 500–800 crores. Apart from the makers, the cinema owners working at the lowest level are suffering a lot. According to film critic and multiplex owner Raj Bansal, ‘If theaters across India are closed, theaters owners will suffer a loss of around 40-50 crores a week. At the same time, almost half of India is closed at this time.

Regarding the loss of the film industry, Raj Bansal said, ‘Now it depends on how long it will be closed. The release date of the films has been postponed. The films have gone ahead. This has resulted in the loss of the owners, distributors and theaters owners. If one month is closed, then the film industry will suffer more than 500 crore loss. At the same time, while talking to Mumbai Mirror, trade analyst Komal Nahata said that the coronavirus has a loss of Rs 800 crore to the Hindi industry.

The biggest loss to owner and producer

Raj Bansal said that due to Corona, the owner and producer are the biggest losers. At the same time, on the government’s help regarding this loss, he said, ‘What should the government ask for at such a time. The government is engaged in saving the lives of the people. At a time when there is a big disaster in the country, there is no such discussion right now. At the same time, he said about the closed shooting, ‘Indian Motion Pictures Producers Association will hold a review meeting with the government on 26 March. After this, it will be decided what will happen next. ‘

About the author

By News Reader Web News Network

We are published the latest and news on Newsreaderweb.com. Get live news about India and the World from Movie News, Entertainment, Movie Reviews, Tech and much more.

Add Comment

Click here to post a comment