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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.

Mar 21: The novel coronavirus outbreak in the country may have brought the ever-bustling film industry to a halt but it hasn't stopped Bollywood celebrities from utilising their massive online influence to entertain their followers as well as engage them in fitness, dance and yoga routines.

According to the Health Ministry, the coronavirus cases in India rose to 258 on Saturday after 35 fresh cases were reported in various parts of the country.

As the government encourages more social distancing, people from the film fraternity are finding ways to connect to people and ensure their self-isolation isn't wasted.

On Sunday, actor Shilpa Shetty will hold a special live fitness session across digital platforms for people to follow from home.

"In times like these, it's important to stay fit, active, and healthy. Join me on Sunday, 22nd March at 4:00 pm IST as I go LIVE on Instagram-Facebook-Helo (@theshilpashetty) and on the @ShilpaShettyApp to show you some beneficial and helpful yoga asanas.

"You can watch, learn, and practice it from the comfort of your homes. Remember, staying indoors shouldn't be an excuse for deviating from your fitness routine," the actor wrote in an Instagram post.

Online yoga and fitness programs are picking up steam, with many celebrities pitching in.

On Saturday, actor Tamannah Bhatia went live with Diva Yoga, a studio part of a larger yoga ecosystem called SARVA, where she participated in a one-hour virtual yoga class, to encourage people to pursue their fitness goals.

Malaika Arora, co-founder of the yoga studio, told news agency that as the world fights a public health crisis, "we must do our best to stay calm and safe."

"There is also a need to boost our immunity levels even if it means continuing our workout from home. The live sessions being conducted on the Diva Studios Instagram handle and immunity boosting modules being shared on the SARVA app and website are aimed at this.

"Our instructors will offer guided lessons every day... for everyone’s benefit. I encourage people to join in and be responsible for your own health. When you are fit and healthy, you can help others in a better manner. It is these small steps that will lead to a better outcome," she said.

With everything coming to a standstill, choreographer Terence Lewis has also figured out an alternate avenue to reach out to his students: through online classes.

As of now, those who are not his students do not have the access to it, but Lewis said that's going to change soon.

"In few days, we will be starting online dance tutorials for people who have no access and means to be a part of our institute directly. Since, we do not have any branches, neither do I believe in having one, we directly teach from our original space in Andheri.

"Here we have instructors who have learnt from me and is the only legit institute we have hence, we'll think of doing the online classes as way of engaging with people who are far away from us," Lewis told PTI.

As shootings of movies, TV shows and web series stand suspended till March 31, casting director and actor Abhishek Banerjee is encouraging artistes to send self tapes from their homes.

"We are encouraging that to minimise human to human contact and audition spaces. Some actors are known to us, some unknown. It's very difficult to track anybody's health of you don't know the person. So it's easier to see the self tapes and keep shortlisting them and maybe we will call them again for a proper audition when everything is alright," he said.

The process of recording a self audition, according to the "Stree" actor, isn't easy.

"Full marks and respect for actors who are sending the self tapes because audition process takes a lot of efforts and to do that alone, without any help in isolation, without cues, it's commendable."

Banerjee, who runs Casting Bay, a leading casting studios, along with his friend Anmol Ahuja, said on an average, any big casting office had around 100-150 footfalls everyday, which has now come to a griding halt.

"The minute the government decided, we stopped all auditions too. Everything is on a standstill now. The production houses have asked us to hold on the auditions and projects. The major worry is that many actors will have date issues now. Once everything opens in April, let's see how to tackle that. It'll be a very difficult situation," he added.

New York, Feb 26: Disney CEO Bob Iger, who steered the company’s absorption of Star Wars, Pixar, Marvel and Fox’s entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement Tuesday.

The Walt Disney Co. named as his replacement Bob Chapek, most recently chairman of Disney’s parks, experiences and products business.

“Did not see this coming -- Wowza,” tweeted LightShed media analyst Rich Greenfield.

Iger will remain executive chairman through the end of his contract on Dec. 31, 2021. Besides leading the board, Iger said he will spend more time on Disney’s creative endeavors, including the ESPN sports network, the newly acquired Fox studios and the Hulu and Disney Plus streaming services. He said he could not do that while running Disney on a day-to-day basis.

“It was not accelerated for any particular reason other than I felt the need was now to make this change,” Iger said on a conference call with reporters and analysts.

Iger steered Disney through the successful purchases of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney. Last year, the top five movies in U.S. and Canada theaters were all Disney movies, including two from Marvel and one from Pixar. With the Dec. 20 release of the latest “Star Wars” movie, Disney had seven movies that each sold at least $1 billion in tickets worldwide last year.

Iger’s most recent coup was orchestrating a $71 billion purchase of Fox’s entertainment business in March and launching the Disney Plus streaming service in November. That service got nearly 29 million paid subscribers in less than three months. In a statement, Iger said it was the “optimal time” for a transition.

Pivotal Research Group analyst Jeffrey Wlodarczak said Iger had implied he would stay until his contract ended in 2021.

“On the other hand, they just successfully closed the Fox deal and had an unquestionably successful launch of Disney Plus so maybe he felt earlier was better to hand off the reins,” he said.

Colin Gillis, director of research at Chatham Road Partners, said the choice of Chapek seems solid because his parks division has had success.

Chapek said that while he has not led television networks or streaming services, his background in consumer-oriented businesses should help. Chapek and Iger both stressed that Disney would continue on the direction it had already been taking.

Disney is facing challenges to its traditional media business as cord-cutting picks up, meaning less fees from cable and satellite companies to carry Disney networks such as ABC, ESPN and Freeform. Disney’s own streaming services require the company to forgo money in licensing revenue, although the company is betting that money from subscriptions will eventually make up for that.

In the short term, Disney parks in Hong Kong and Shanghai, China, remain closed because of the coronavirus outbreak. In a CNBC interview, Chapek said the outbreak may be a “bump in the road,” but he said the company could weather it given “affinity for the brand.”

Iger told CNBC he had no plans to stay with Disney beyond next year.

Iger’s appointment as CEO in 2005 had been accompanied by controversy and protest from dissident shareholders Roy E. Disney and Stanley Gold. But he has come to be seen as a golden-boy top executive, and even someone who could run for president.

Iger told Vogue in 2018 that he had started seriously exploring a run for president because he is “horrified at the state of politics in America today,” but the Fox deal stopped his plans. Oprah Winfrey told Vogue that she “really, really pushed him to run.”

Iger, a former weatherman, joined ABC in 1974, 22 years before Disney bought the network.

At ABC, Iger developed such successful programs as “Home Improvement,” “The Drew Carey Show,” and “America’s Funniest Home Videos” and was instrumental in launching the quiz show “Who Wants to Be a Millionaire.” He was also criticized for cancelling well-regarded but expensive shows such as “Twin Peaks” and “thirtysomething.”

Since Iger became CEO, Disney’s stock price has risen fivefold. Its stock fell more than 2% in extended trading following the announcement, on top of a broader market selloff on virus fears during regular trading.

Iger, 69, was the second-highest paid CEO in 2018, as calculated by The Associated Press and Equilar, an executive data firm. He earned $65.6 million. The top earner was Discovery’s David Zaslav who earned $129.5 million.

Susan Arnold, the independent lead director of the Disney board, said succession planning had been ongoing for several years.

Chapek, 60, is only the seventh CEO in Disney history. Chapek was head of the parks, experiences and products division since it was created in 2018. He was previously head of parks and resorts and before that president of consumer products.