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Overseas Market Collapses Completely
By: Tupaki Desk | 24 Sep 2020 12:38 PM GMT
The entire business revolving around films have collapsed in the past 6 months but the one area which took a severe beating is undoubtedly the overseas market. The overseas distribution and theatres have collapsed completely and they may not get back to their past glory at least for another year.
Though Corona outbreak is one of the biggest reasons for it, sources say that the internal reasons too played a huge part in the damage. As per insiders, the overseas arena doesn't have strong distribution agencies which made them buy films for heavy rates. According to reports, many distributors who are not that established or popular gave huge advances to films that were still under production.
But the lockdown delayed the production and many of those distributors are demanding the producers to return back the money. The producers, on the other hand, are not agreeing to return the money and asked them to wait till the theatres reopen and buy the movie by paying the entire sum which was discussed before. But such rates may not be working now as people abroad may not be so enthusiastic as before to enter theatres as per trade analysts. We have to wait and see what happens.
Though Corona outbreak is one of the biggest reasons for it, sources say that the internal reasons too played a huge part in the damage. As per insiders, the overseas arena doesn't have strong distribution agencies which made them buy films for heavy rates. According to reports, many distributors who are not that established or popular gave huge advances to films that were still under production.
But the lockdown delayed the production and many of those distributors are demanding the producers to return back the money. The producers, on the other hand, are not agreeing to return the money and asked them to wait till the theatres reopen and buy the movie by paying the entire sum which was discussed before. But such rates may not be working now as people abroad may not be so enthusiastic as before to enter theatres as per trade analysts. We have to wait and see what happens.
