Film Producers Demand Increase In Post-covid Revenue Share From Exhibitors (tntribune.com)
NEW DELHI — The pandemic year of 2020 was a harsh time for cinema, leading to revenue-share changes in the film industry.
The pandemic-induced economic slowdown has hit the film industry severely across the world. The Indian film industry, Bollywood, has been greatly affected due to delayed film releases, with revenue expected to drop from INR 18,300 (about $2.5 billion) to INR 6,100 crore (about $840 million), according to a KPMG report.
Producers of some of the big budget films, including “Sooryavanshi,” “83” and “Laal Singh Chaddha,” among many others had to put the release on hold due to the Covid-related lockdown.
In Hollywood, too, big production houses have put a hold on releases. The release of the next scheduled Marvel film,“Black Widow,” and “The Fast Saga” have been moved to this year. Producers of “No Time to Die,” “Avatar 2” and “West Side Story” are also looking at new dates after year-long delays. Disney has pipelined two of its films to online streaming debuts.