10000 Cr Loss Due To Theaters Closure

Wed 16th Sep 2020 01:25 PM

Theaters Closure: What Is The Loss?

Theaters
Theaters

Corona pandemic across the world brought the entire economy to a standstill. Almost all professions got affected and many lost their livelihoods. Unlock process started in India and slowly the economy is picking up. However, Theaters are still closed and this is worrying all those associated with the industry.

Even now few of the industry biggies are warning that if the Theaters are opened they still will suffer losses. Others are expressing fear that if the situation continues in the same way for a few more months, exhibitors will be eliminated.

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The Union government and the state governments should think the pros and cons on the issue. Reports are coming that efforts are on to convince the Union Government and get permission for Theaters reopening at least in two Telugu states Telangana and Andhra Pradesh.

Multiplex association of India is trying its best to get permission to reopen Theaters from October. After its meeting with the Union Home secretary, the association released another letter requesting the authorities to permit reopening of Theaters.

As per the estimates, inside talk is Rs 10000crs loss occurred due to Theaters closure at an average of Rs 1500crs per month for more than 6 months. More than two and a half lakh lost direct employment and over a lakh lost indirect employment. So efforts are underway to revive the film industry.

The Union Government did not respond even after hearing the problems in the Exhibition Industry. Hollywood’s most awaited film Tenet directed by Oscar winner which released in a grand manner in over 70 countries, but it did not even get breakeven. So questions are on as to who would watch the films even if Theaters are thrown open.