Coronavirus Effect: Bollywood Faces Loss Of Close To Rs.800 Crores!

The outbreak of coronavirus has been declared as a pandemic by World Health Organization. The nation is taking every possible measure to fight it and prevent its spread. Life has come to a halt in the entire world and the severity of the impact was felt when schools, colleges and theatres in most part of the nation had been shut down. Bollywood has taken a serious hit, with the business of the released films being affected and upcoming releases being stalled. On top of that, shoots have been cancelled for the time being, which will ultimately result in their release getting delayed.

If a report by Mumbai Mirror is to be believed, then the losses would be close to 800 crores! Yes, that’s the amount at stake for Bollywood. Trade analyst Komal Nahta told the daily, “It’s a loss of Rs 25- 30 crore for the makers of Baaghi 3. Theatres shutting down have also impacted the weekend business of Angrezi Medium. The Hindi film industry stands to lose Rs 800 crore owning to delays in releases and shooting schedules.”

While the first quarter has now been lost with only Tanhaji entering the 100 crore club and Baaghi 3 barely making it, the delays would affect the other films too. Trade analyst Taran Adarsh pointed out that given there are only 52 weekend, there would be a rush in the rest of the year. He said, “We can expect multiple releases coming together, with one film cutting into another’s business. Getting back to normalcy will take time”

What’s more- the theatres are suffering losses due to shutdown and several crew members and technicians are now jobless. While Sudhir Mishra has appealed for help for spot boys and technicians, Vikramaditya Motwane and Anurag Kashyap also expressed concern!

All we can pray for now is the situation to get under control as soon as possible.