Usually, the period of Eid brings a lot of cheer – and lot of moolah as well – to Bollywood. But this year, due to Covid-19 pandemic, B-Town won’t keep a date with Eid as Salman Khan’s Radhe: Your Most Wanted Bhai and Akshay Kumar-starrer Laxmmi Bomb has been delayed. Reportedly, besides a few days’ shoot, editing work on Radhe is yet to be completed. And apparently, post production work is still left on Laxmmi Bomb. Since Wanted (2009), it’s the first time that Salman won’t have an Eid release.
“The first quarter of 2019 was really bad, and now, with no Eid release, the second quarter has also started on a disastrous note,” says trade analyst Taran Adarsh. Losing out on an ever-dependable Eid weekend is a nasty blow considering Bollywood biz has already lost approximately Rs 250-300 crore in the first quarter with the only major hit being Ajay Devgn-starrer Tanhaji: The Unsung Warrior.
“Missing out on Eid is a huge blow since we depend on big festive periods for our tent-pole films to exploit. Also, the second quarter isn’t going to exist in our books now. The box office is, and will be, zero. But on the positive side, pent-up demand is a big factor in entertainment sector so, we are hopeful,” says distributor-exhibitor Akshaye Rathi. For producer Bhushan Kumar – who has nine films to release in 2020 – too, “it all looks dark right now.” He says: “No one is in the position to foresee anything. There was a time when producers would fight to grab festive periods such as Eid.”
So, the big question is: will 2020 turn out to be one of the worst years in recent times? “We don’t know what the future holds but it could turn out to be true. Right now, movies are the last thing on people’s minds,” says Adarsh. Rathi adds: “When every sector is getting badly hit, how can we be unaffected? Be it the exhibition, distribution or production, every section of film business is losing on a daily basis because our profit margins are, anyway, not very big. And the fact that theatres are the first thing to get shut and the last to open, doesn’t help matters too.”
{{/usCountry}}So, the big question is: will 2020 turn out to be one of the worst years in recent times? “We don’t know what the future holds but it could turn out to be true. Right now, movies are the last thing on people’s minds,” says Adarsh. Rathi adds: “When every sector is getting badly hit, how can we be unaffected? Be it the exhibition, distribution or production, every section of film business is losing on a daily basis because our profit margins are, anyway, not very big. And the fact that theatres are the first thing to get shut and the last to open, doesn’t help matters too.”
{{/usCountry}}Not too bright!
Trade experts feel the first quarter of 2020 has been “has been the worse in the last 2-3 years.” Apparently, the earnings [in the first quarter] has been ₹778 crore, while last year, it was ₹1,090 crore. In 2018, the numbers were around ₹923 crore. Going forward too, there are a lot of questions, says Bhushan Kumar. “When will theatre re-open? Even when they open, will people go to watch films immediately? How will the social distancing norms be followed? Should movies be released digitally? But in that case, there is not enough recovery. So, it’s difficult to gauge anything right now,” he says.