Shahrukh-Kajol's 'Dilwale' earns Rs 150 cr even before its release

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.

Mumbai, Jan 4: After the Indian Institute of Technology (IIT) Kanpur constituted a panel to decide whether legendary poet Faiz Ahmed Faiz's poem 'Hum Dekhenge' is offensive to Hindu sentiments, filmmaker Shoojit Sircar had a cryptic take on the burning controversy.

"Best time for the rich & small businesses to make money as most of the population are engaged with a revolutionary poet named Faiz," Sircar said in a tweet.

The poem, penned down by the iconic poet in 1979, came into limelight again recently during the protests against CAA and NRC in IIT Kanpur.

Earlier on Thursday, senior lyricist Javed Akhtar rejected the claims about the poem being 'anti-Hindu'.

IIT Kanpur on Thursday had set up a committee to look into the issue.

The move came after a complaint that the students who took out a peaceful march in the campus on December 17 against the Citizenship Amendment Act and in solidarity with Jamia Millia Islamia students, sung it as a mark of protest, which hurt the sentiments of other communities.

The CAA grants citizenship to Hindus, Sikhs, Jains, Parsis, Buddhists and Christians who faced religious persecution in Pakistan, Afghanistan, and Bangladesh and came to India on or before December 31, 2014.

Washington D.C, Jul 8: Adding another feather to her cap, actor Priyanka Chopra on Wednesday announced that she has been chosen as the ambassador of the Toronto International Film Festival (TIFF) 2020.

Priyanka has joined the list of 50 celebrated filmmakers and actors who are invited as the ambassadors of the TIFF.

The 37-year-old star put out a post on Instagram and shared a montage featuring snippets of her empowering addresses at the TIFF. Along with the video, Priyanka noted that the TIFF has been a second home for her.

She wrote, "Throughout my career TIFF has been a second home for me, with many of my films, as both an actor and producer, making their world debut at the festival."

Talking about the film festival that focuses on special stories and storytellers, the 'Dostana' star added, "TIFF has always been at the forefront of supporting and championing global content that showcases diversity and inclusion, a charge led by my friend @cameronpbailey and his talented team, who work with passion to shine a spotlight on these special stories and storytellers."

"Even more than that, one of the most exceptional parts of the festival are the fans of cinema who congregate to celebrate the magic of the movies, and who have always embraced me with so much warmth and love," Priyanka added.

She shared that she feels proud to serve as the ambassador to the festival and noted," I am very proud to serve as an ambassador this year, and I look forward to continuing a relationship that I value tremendously."

The esteemed film festival will be opting for digital screenings and virtual red carpets in the wake of the coronavirus pandemic. The festival is scheduled to kick off from September 10 to September 19, 2020.