Bollywood is facing a huge loss this quarter. 2020 is not a good starting for Bollywood as it doesn’t earn as much it used to earn every year. 2020 starts with a great bang with the movie Tanhaji The Unsung Warrior. It earns a profit of Rs 268.72 crore in the month of January but the month February didn’t perform well as January as the movies like Love Aaj Kal and Bhoot Part One: The Haunted Ship are failed to impress the netizens. The movie that impressed the netizens a little bit is Malang as it earns a profit of 54.16 crores.
Now the March arrives with a great disappointment because of the novel coronavirus. Due to this deadly virus, the shooting of the movies is being at a halt as well as the release of the movies. After the disappointing February industry was eagerly waiting for the March as March is going to give them some big hits of the year but this coronavirus makes them upset. The Bollywood is now facing the loss of Rs. 450 crores informed the Trade analyst Girish Johar
Not only the shooting and release are at a halt but the theatres in Delhi and Mumbai are also closed as it seems that coronavirus has become the main culprit of the Bollywood industry. Girish Johar said
Keeping February’s box office and the Coronavirus outbreak in March into consideration, we’ve lost more than Rs 400 crores
He further said
The films were looking good. Last year, we had this particular benchmark. We are almost more than Rs 400 crore short by that benchmark achieved last year
Trade analyst Girish Johar informs that it’s not only the Bollywood releases that effects the industry but Hollywood also contributes to the Indian Box office. Disney’s Mulan is about to release in March but now due to this covid-19, the release of the movie has been postponed. Mohan Umrotkar, CEO of Carnival Cinemas considers March as ” Washout”, he believes that maybe the coming months can be the game-changer as he said
This quarter will be at least 30 to 40 percent down as compared last year. The revenue will come in subsequent months. But it is a loss. This quarter will be at least 30 to 40 percent down as compared last year. The revenue will come in subsequent months. But it is a loss.
Now it is to see what is in the store for the Bollywood industry. Girish Johar believes that it will take time to get back in track for the Boc Office.