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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.

Feb 6: The Income Tax Department on Thursday recovered Rs 65 crores from the residence of Tamil actor Joseph Vijay's financer in Chennai during raids which were carried out in the connection with an alleged tax evasion case linked to AGS Cinemas, said sources.

The department is conducting raids and surveys at Actor Vijay, Financer and Producer Anbu Chezhiyan residences.

Around 38 premises have been covered in the raid.

According to IT sources the counting of money is still on so there are chances that the amount will rise. Vijay's wife was at Chennai home when IT sleuths carried out a raid at his residence.

Speaking on the reports of the Actor being intervened during the shooting of the film, the income tax official said, "Actor Vijay was not picked up between his shooting as reported in some media reports."

The actor was shooting for his upcoming film "Master in Neyveli" when he received the news of the raid.

"Actor Vijay had cut short his shooting and returned to his home immediately after getting the news of raids, now the officials are ready to facilitate him to continue his shooting if he wishes to," sources from Income Tax told news agency.

Mumbai, May 30: Actor Vaani Kapoor on Saturday said she will go on a virtual date with five people as part of an initiative to raise money for daily wage earners, who have been affected due to the nationwide lockdown implemented to rein in coronavirus.

Vaani has teamed up with actor Arjun Kapoor's sister Anshula Kapoor’s online fundraising platform, Fankind, to raise funds for daily wage workers.

Vaani and Fankind have come together to provide five of her fans a chance to go on a virtual date with her - by donating to provide food to daily wage workers.

“As human beings, we will need to come forward and support as many people as possible in need due to the coronavirus pandemic in our country. I’m doing my bit to support the daily wage earners of our country and their families who are in dire situations given the lockdown.

“My activity, in which five lucky winners can have a virtual date with me, will see us collect funds to help feed them and their families across the country," Vaani said in a statement.

Earlier, Arjun too supported the initiative to help daily wage earners.

According to the press release, the funds will go to GiveIndia, a non-profit organisation, which will provide hot cooked meals to wage earners and their families. Each meal costs Rs 30 and will be delivered in various areas of Maharashtra, Bangalore, and Chennai.

A.T.E. Chandra Foundation has also come on board and will be adding 25 percent of the total donation value collected as a matching amount, thereby multiplying the impact, the release said.