Imagine enjoying a delicious meal made by a reputed chef while watching a movie being screened only for you and your loved ones in an air-conditioned theatre. Or enjoying the magic of cinema under the stars. Concepts that were once one-off experiences could now well be the new normal in the entertainment world. As the world grapples with the coronavirus pandemic and people try to steer clear of crowded spaces, theatre owners in India are experimenting with private screenings and other innovations to lure audiences.
The pandemic dealt a body blow to the lucrative film industry as shoots came to a halt and theatres shut down after lockdowns were announced in March-end. Revenues were close to zilch for six months. And though operations resumed in October, the response in some of the biggest markets, including Mumbai, has been tepid.
According to audit firm KPMG, the film industry’s revenues are expected to decline by 67 percent to ₹61.1 billion in FY21 as compared to ₹183.3 billion in FY20; revenues earned from the box office during the same period are estimated to plummet to ₹30 billion from ₹139 billion in the same period.
This story is from the December 18,2020 edition of Forbes India.
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This story is from the December 18,2020 edition of Forbes India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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