Tuesday, October 26

Entertainment

Indian film industry may see 70% drop in revenue in 2021 as lockdown extends in many states
Entertainment

Indian film industry may see 70% drop in revenue in 2021 as lockdown extends in many states

By Administrator_India Capital Sands From being allowed to operate at 100 percent in February to shutting shop from April 14 onwards, Indian cinemas are struggling with uncertainty once again. With theatres likely to remain shut until May 15 in most parts of the country, the picture is grim for the entire film industry which bets big on theatrical revenue that forms a major part of a film's earnings. According to analyst Karan Taurani, who closely tracks the media and entertainment space and is Vice-President, Elara Capital, first half of this year will be a write-off and the recovery is expected from September onwards. "Now, instead of 25-30 percent decline which was estimated on the back of 2021 being a good year for the film business, it will be 60-70 percent decline ve...