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Cinema Exhibition Industry Losses Rs 10,000 Cror
By: Tupaki Desk | 15 Oct 2020 10:50 AM GMT
The cinema exhibition industry sector has been one of the hardest hit due to the pandemic and the subsequent restrictions implemented to curb its spread.
The virus has not only disheartened moviegoers, but axed several thousand jobs and cost the industry an estimated Rs 10,000 crore in revenue in these seven months. This is an irreplaceable loss for them.
After almost seven months, the theatres are resuming operations partially. The multiplexes and movie owners are in financial stress as the 50% occupancy system will not fetch any profits them.
They hope that only after the arrival of the vaccine, the situations will return back to normalcy. Meanwhile, the filmmakers are hoping that the people will flock to theatres from Sankranthi 2021.
The virus has not only disheartened moviegoers, but axed several thousand jobs and cost the industry an estimated Rs 10,000 crore in revenue in these seven months. This is an irreplaceable loss for them.
After almost seven months, the theatres are resuming operations partially. The multiplexes and movie owners are in financial stress as the 50% occupancy system will not fetch any profits them.
They hope that only after the arrival of the vaccine, the situations will return back to normalcy. Meanwhile, the filmmakers are hoping that the people will flock to theatres from Sankranthi 2021.
