All Pakistani artists have left Mumbai, will hunt down whoever is still left: MNS

New Delhi, Jul 11: The COVID-19 triggered restrictions on cinema exhibition industry have not only disheartened movie goers, but axed several thousand jobs and costed the industry an estimated ₹ 5,000 crore in revenue.

The sector has been one of the hardest hit due to COVID-19 pandemic and the subsequent restrictions implemented to curb its spread.

Presently, cinemas and multiplexes continue to remain in the list of prohibited activities under the Centre's Unlock 2.0 Guidelines.

In an interview to media persons, movie exhibition major Inox Leisure's Chief Executive Alok Tandon said, "The industry on an average collects about ₹ 1,000 crore a month of 'Box Office' and on an average generates about ₹ 500 crore a month of ancillary revenues."

"Keeping in mind that the lockdown has been effective for more than 100 days now, which is about 3.5 months, the cinema exhibition industry would have accumulated losses worth ₹ 5,000 crore so far."

According to Tandon, associated businesses such as pre and post-production, make-up artistes, graphics, film set fabrication, film crew, events, marketing, F&B services have all been impacted due to the restrictions.

"With the production and exhibition of movies coming to a halt, the industry was bound to witness some job losses," he said without divulging any estimates.

As per industry data, the multiplex industry in India employs more than 200,000 people directly and accounts for nearly 60 % of revenues of the film business.

On the way forward, Tandon elaborated that the industry expects to regain business momentum and sentiment post resumption of operations.

"We believe it will be a matter of a couple of blockbusters, and we will be back to our usual operational numbers," he said.

"We are rightfully relying on the unshakeable passion of the Indian movie lovers, who are yearning to step out and spend time enjoying the giant screen experience."

Furthermore, he cited that industry has sent representation to the Centre for immediate re-commencement of operations and a support package.

"We have requested for financial support in the form of salary subsidies during the lockdown period, interest-free loans for three years, exemptions from various taxes and duties, like 'GST, Show tax, LBETs and Property taxes' for a period of one year from the date of operations, waiver on electricity minimum demand charges for one year and auto renewal of licenses and permits for the next one year," he said.

"We have been talking to our mall developer partners and are working together with them to see through this phase."

However, even after re-commencement, the industry anticipates at least 3-6 months before things return anywhere close to normal.

"The cinema ecosystem is such that we will need all the aspects of the business to swing into action and fire together for us to see a resurgence, and we are highly optimistic about the same," he said.

In terms of global experience, Tandon pointed out that cinemas have started operating in more than 25 major countries, and some of those markets are witnessing a healthy response.

"India is a massive movie market and we are confident that the passionate and responsible movie lovers will turn up in huge numbers to enjoy their favourite form of entertainment and also follow the prevention guidelines at the same time, ensuring a safe and steady revival of the cinema exhibition sector," Tandon said.

The film exhibition industry in India is mainly comprised of single screen and multiplexes.

At present there are around 9,527 cinemas across the country, including 6,327 single and 3,200 multiplex screens.

Srinagar, Feb 7: Jammu and Kashmir High Court on Friday dismissed a petition seeking a stay on the release of the movie 'Shikara' which is based on the exodus of Kashmiri Pandits from the Valley.

The film which hit theatres today has Vidhu Vinod Chopra at the helm and narrates the story of the mass exodus of Kashmiri Pandits in 1990 that forced lakhs to flee their homeland almost overnight following a genocidal campaign by militants.

Shot primarily in the Valley, the movie is being promoted mainly as a journey of love between the lead couple.

Mumbai, Jan 23: Actor Tiger Shroff is set to share the screen with his father and veteran actor Jackie Shroff for the first time in "Baaghi 3", the makers announced on Thursday.In the third installment of action-drama, directed by Ahmed Khan, Jackie will play the on-screen father of Tiger and his co-star Riteish Deshmukh's characters.

In a cameo appearance, the 62-year-old actor will essay the role of a police inspector in "Baaghi 3", producer Sajid Nadiadwala said.

"Everyone has been waiting to see Tiger team up with his 'Hero' father Jackie since we launched him. There have been plenty of speculations and no one has been able to bring them together in the last six years as the duo was categorical they would only share the screen when a film and role merited their presence.

"Ahmed and I feel the story line required Jackie to be a part of them film and I believe our visions matched to understand how it's a pivotal role in the film," Nadiadwala said in a statement.

The producer said having Jackie on board will add to the film's expectations.

"... I am confident no one will be disappointed by this double dose of Shroffs and will stand as a strong USP," Nadiadwala added.

Jackie started shooting for the film on Wednesday.

Also starring Shraddha Kapoor and Ankita Lokhande, "Baagi 3" is scheduled to be released on March 6.