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.
As a consequence, a number of single screen theatres have shut down and no new screens are expected to be added during FY21. Over-the-top platforms have emerged as a strong alternative with quality content at reasonable rates. What’s worse is that in-cinema advertising, which was ₹10.6 billion in FY20 is likely to drop to ₹3.7 billion in FY21, according to a KPMG report on the media and entertainment sector. Therefore, ticket sales and food and beverages will have to bring in a bulk of the revenue for theatre owners, at least initially. And cinema operators are doing everything they can to survive in these challenging times.
Continue reading your story on the app
Continue reading your story in the magazine
‘The Middle Class Buys Dreams. The Businessman Sells Unrealistic Ones'
Anand Kumar starts the interview by setting the context. “Let’s get the math right,” says the mathematician.
The Home School of Thought
Concerns over a monotonous, formal education system coupled with edtech’s innovative approaches bolster the homeschooling proposition. But is India ready for it?
The Big Small Question
As Byju’s and Unacademy grow at breakneck speed, what will it take for smaller edtech players to survive?
Beating Bharat's Edtech Blues
On the other side of the billion-dollar edtech boom are children who have been unable to access the most basic forms of online education, and people who have been trying to bridge the digital divide
Handa's New Funda: From Academy to Unacademy
How IITian Ravi Handa scaled up his seven-year-old online venture for MBA preparation, and eventually sold it to an edtech major
Six (and more) Degrees of Fakery
How inaction against the rash of fake universities across the country may be incentivising the mushrooming of more such institutions
Meet The Headmasters
Sequoia Capital has bet big on edtech, with over a dozen investments, including in industry giants Byju’s and Unacademy
A Billion-Dollar Dream For Freshworks
Girish Mathrubootham is taking a cue from the rapid growth of Silicon Valley software startups to reach scale and velocity
Changing How Small-Town India Shops
CityMall founders Angad Kikla and Naisheel Verdhan are building a network of micro-entrepreneurs through their app in smaller cities
Liberal Arts: A Road Less Travelled
Colleges offering these courses in India have begun to gain ground, but for them to truly shine on the global map, they must be cognisant of the country’s culture and challenges
Reincarnation And Realpolitik
China, India, and the U.S. are vying to influence the selection of the next Dalai Lama
An Exclusive Interview With Nandakumar Narasimhan
The Little Red Train
A Room for Dad
Before Mom passed, I made a promise to her
THE DANGAL IN THE JUNGLE, PART 1
YOU KNOW YOU’RE SOMEBODY WHEN YOU’VE APPEARED ON AN INDIAN DANGAL POSTER — IN OTHER WORDS, IN A WRESTLING ADVERTISEMENT.
WOUNDS AND THE WOMB
JULIE PETERS explores how to heal a relationship with the sacred womb, a place of death, life, and possibilities.
Giant squirrels, giant lessons? Animal chaplain SARAH BOWEN explores what squirrels can show us about mindfulness.
E8 Caste and the Indian Tech Ivies
IIT grads are highly sought after in Silicon Valley. Are they bringing deep-rooted prejudices with them?
I was happily married, happily employed, just plain happy. Until the accident
IN SEASON Chickpeas (GARBANZO BEANS)
Chickpeas appear in early recordings in Turkey well over 5000 years ago. India produces the most chickpeas worldwide but they are grown in more than 50 countries. An excellent source of carbohydrates, protein, fiber, B vitamins, and some minerals, they are a nutritious staple of many diets. The name chickpea comes from the Latin word cancer, referring to the plant family of legumes, Fabaceae. It is also known by its popular Spanish-derived name, the garbanzo bean. Kidney beans, black beans, lima beans, and peanuts are other familiar foods found in this legume family.
When the Signal Goes Out
Government-ordered internet shutdowns are becoming more frequent