1 min read.Updated: 02 Aug 2021, 10:39 AM ISTLata Jha
Assuming people take around three to four months to feel safe enough about going to cinemas after pan-India reopenings, the film business in India could see a jump of at least 20% in revenue compared to 2019 once things normalise
NEW DELHI: Actor Kartik Aaryan will play the lead in a new film to be produced by Ronnie Screwvala and directed by Hansal Mehta called Captain India. The movie, to be co-produced by former actor Harman Baweja, will begin shoot early next year.
To be sure, as movie theatres slowly reopen across the country, the Hindi, Tamil, Telugu, Kannada and Malayalam movie industries are fast announcing new projects in signs of returning to work and making films for theatrical exhibition. Telugu stars like Chiranjeevi, Ravi Teja, Mahesh Babu and Jr. NTR have all announced new projects while Tamil stars Vijay and Dhanush have committed to upcoming films, Beast and an untitled venture with director Sekhar Kammula, respectively. As far as Bollywood goes, Ajay Devgn will produce the Hindi remake of Telugu hit Naandhi while Aaryan will be seen in a musical love story titled Satyanarayan Ki Katha.
Trade experts say these are signs the industry is looking at theatrical releases seriously, especially in 2022, when improving consumer sentiment and vaccinated audiences will make for good returns for movies that are ready by then. The theatrical business still brings nearly 60-70% of the total revenue of all films and OTT platforms will co-exist with it like satellite television or home video did.
Assuming people take around three to four months to feel safe enough about going to cinemas after pan-India reopenings, the film business in India could see a jump of at least 20% in revenue compared to 2019 once things normalise, given how hungry audiences are to step out of home, trade experts say. The trend has already been seen overseas with Fast & Furious 9setting a post-pandemic record as it collected around $63 million over its three-day weekend in the US and A Quiet Place Part II having earned around $47 million over the same period earlier.