Salman Khan to bear losses for 'Tubelight,' agrees to pay distributors

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.

Los Angeles, Jan 9: Actors Salma Hayek and Tiffany Haddish are hopeful about the future for women in Hollywood and now cinema is making films about women because the audience was "neglected".

The duo along with Rose Byrne star in Like a Boss, a comedy directed by Miguel Arteta, which follows best friends Mia and Mel (Haddish and Byrne) who join forces to run their own boutique cosmetics company.

When the prospect of a big buyout offer from a notorious titan of the beauty industry (Hayek) tempts them, their lifelong bond - and their business - is put in jeopardy.

Hayek said she is happy with the increase in female-driven films in Hollywood.

"We're on the right path. And we're not going to stop," the actor told Variety.

"What I can tell you is that a lot more women are directing and acting and writing and producing. And there are a lot more movies made about women and for women because the audience was neglected, she said.

She was speaking at the premiere of the film in New York.

Haddish added that the mantle for change shouldn't be left to the traditional decision-makers.

To get things, one has to sometimes make noise, the actor-author said.

"It's about us putting in the work and creating the projects and creating the opportunities in order to do those things to make it better. I sit back and I listen to people talk sometimes, saying, 'They're not letting us; they're not giving it to us.' Why do we have to ask permission? Why can't we just start putting it together? If they want to come on board with it, come on board. And if not, oh well," Haddish said.

"I'm about creating an opportunity. People say I'm loud and obnoxious, but sometimes it’s the squeaky wheel that gets the oil and gets things done," she added.

The comedy comes on the heels of a year gone by in cinema that featured female protagonists in films like Little Women and Captain Marvel.