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Demand of new releases expected to go up post COVID-19

By IANS News
March 24, 2020 at 1:55 PM IST
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4 min read
Demand of new releases expected to go up post COVID-19

Mumbai, March 24 (IANS) Bollywood and Hollywood were the box office drivers of 2019, making the coveted one billion clubs the new normal. With the coronavirus epidemic hitting the entertainment sector hard, the demand for new films is expected to grow so that the industry can return on the same path after the lockdown phase.





According to a study by Kotak Institutional Equities Research, CY2019 was the second consecutive year of good box office performance. Bollywood churned out 17 over Rs1 billion grossers, nearly doubling the count over CY2017-19.





The box office success report highlights some trends -- impressive progress of movies into Rs 1 billion and Rs 2 billion clubs. The number of films crossing Rs1 billion/Rs2 billion Net Box Office Collection (NBOC) has doubled to 17/7 over CY 2017-19.





The growth can be attributed to -- the proliferation of multiplexes, the rise of young stars and the associated increase in the supply of good content, broad-based demand across weekends, a gradual move away from quarterly seasonality and high dependence on long weekends.





Another highlight was the relatively muted growth of the top five movies. Over the past few years, the top five movies (5-yr CAGR at 4%) have dragged Bollywood NBOC growth. This trend is due to fading BO performance of the big stars (the three Khans -- Shah Rukh, Salman and Aamir); the new crop of stars are yet to deliver blockbuster hits, the inability of multiplexes to expand footfall base given a weak macro and modest growth in per capita income/purchasing power and limited crossover films such as "Baahubali" that cut across regions.





It is important to mention that the steady improvement in the performance of the new crop of stars (Ranveer Singh, Ranbir Kapoor, Shahid Kapoor, Tiger Shroff, Ayushmann Khurrana, Kartik Aaryan, Rajkummar Rao and Alia Bhatt) and Akshay Kumar have more than compensated for the falling contribution of the three Khans' NBOC.





The market of streaming services must be growing in India, but it doesn't affect the box office business. Several movies that score low on visual effects/production value have garnered Rs1 billion + NBOC. Ideally, OTT should have impacted BO collection of such movies if one assumes that consumers prefer to watch movies with good visual effects in cinemas and low-to-mid budget films on small screens.





The "Avengers" film broke records. Hollywood's contribution to PVR's ticket sales increased to 19% in CY2019 from 16-17% earlier. It is worth noting that "Avengers: Endgame" surpassed the #1 Hindi movie of CY2019 in terms of India NBOC. It was the only movie to have round-the-clock shows on the release weekend.





In fact, "Avengers: Endgame" (CY2019) grew 67% over "Avengers: Infinity War" (CY2018) in India versus 37% growth worldwide. The report shows a growing market for Marvel superhero movies in India, backed by the popularity of a few Hollywood sequels in India and untapped opportunities.





When it comes to the regional box office, CY2019 was one of the weakest years for regional BO, especially South. PVR's SPI cinemas' occupancy dropped to 51% in CY2019 from about 57% in CY2018. A pick-up in the regional box office led by multiplex penetration is a trend that should play out in the future.





With the world experiencing a complete/partial lockdown of cinemas in view of the Covid-19 outbreak, PVR is expected to incur a cash loss of about Rs550-600 million per month. According to the study, the company has adequate liquidity to navigate a complete lockdown of about five months and would be able to borrow more, if need be.





Post Covid-19, things seem to get better with "a strong bounce-back" expected. The demand is expected to be led by pent-up demand, and a packed line-up of movies.





"We believe that PVR's performance is largely linked to content quality and likely weakness in macro aftermath Covid-19 would have a modest impact on PVR's operating performance," read the report.



For more and latest news about Bollywood and Hollywood, stay tuned with us.

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Published on March 24, 2020 at 8:25 AM

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Karan Johar Unfollowed Shah Rukh Khan, Alia Bhatt, And Others On Instagram: Here Is Why

BY SACNILK

Mumbai, May 29 - Filmmaker Karan Johar left Bollywood fans stunned after eagle-eyed social media users noticed that he had unfollowed several celebrities on Instagram, including superstar Shah Rukh Khan. The sudden move quickly became a major talking point online, with fans speculating about possible fallout and tension within Bollywood circles. Apart from Shah Rukh Khan, Karan Johar also reportedly unfollowed several major Bollywood names, including Alia Bhatt, Kareena Kapoor Khan, Kajol, Malaika Arora, Ananya Panday, Kartik Aaryan, Varun Dhawan, Sidharth Malhotra, Manish Malhotra and even members of the Khan family such as Gauri Khan, Aryan Khan and Suhana Khan. (adsbygoogle = window.adsbygoogle || []).push({}) The development first gained traction after Reddit users noticed changes in Karan Johar's following list and began sharing screenshots online. Social media platforms were soon flooded with theories ranging from friendship issues to professional differences and PR strategies. What made the situation even more surprising for fans was Karan Johar and Shah Rukh Khan’s long-standing bond. The duo shares one of the most iconic friendships in Bollywood history. Shah Rukh Khan played the lead in several of Karan Johar's biggest films, including Kuch Kuch Hota Hai, Kabhi Khushi Kabhie Gham, Kabhi Alvida Naa Kehna and My Name Is Khan. Over the years, Karan has repeatedly credited Shah Rukh for shaping his filmmaking journey and career. (adsbygoogle = window.adsbygoogle || []).push({}) As speculation intensified, Karan Johar finally addressed the controversy through his Instagram Story and dismissed all rumours of fallout. The filmmaker clarified that the mass unfollowing was simply part of a "digital detox." He wrote, "It's a DIGITAL DETOX!!!! Am unfollowing everyone to reduce my time and energy spent on the gram!!! This can't be national news for god's sake... please clickbait something else! This is irrelevant!" His statement, however, did little to stop online discussions. Many social media users questioned why unfollowing people was necessary for a digital detox, while others believed it was simply a social media strategy or public reset. Reddit discussions were filled with mixed reactions, with some users calling it a "PR move" and others describing it as attention-grabbing behaviour. Another detail that caught attention was that actress Priyanka Chopra reportedly continued to remain on Karan Johar's following list despite several other celebrities being removed. This sparked even more speculation online. According to reports, the move was part of a planned "social media strategy" and had nothing to do with personal disputes or issues with any actor.

Bhooth Bangla Box Office: Akshay Kumar's Horror Comedy Is Super Strong In Sixth Week Bollywood
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Bhooth Bangla Box Office: Akshay Kumar's Horror Comedy Is Super Strong In Sixth Week

BY SACNILK

Mumbai, May 28 - Superstar Akshay Kumar's horror-comedy entertainer Bhooth Bangla continues its impressive theatrical run and is showing remarkable stability at the box office even in its sixth week. At a time when most films witness a sharp decline after the first few weeks, Bhooth Bangla has managed to maintain a steady hold across multiplexes and mass circuits alike. (adsbygoogle = window.adsbygoogle || []).push({}) Directed by Priyadarshan, the film has scored approximately 4.60 crores net in 6 days of the 6th week, with the full week heading towards 5+ crore net. The drop from the fifth week is around 30%, which is a solid hold in the late weeks, considering competition with other films. The total India net of the film is expected to be around 176.50 crores (209+ crores gross) after six weeks. Among the biggest sixth-week grossers for Akshay Kumar in the post-pandemic era, Bhooth Bangla is easily the number 1 film by a long margin. Director Rohit Shetty's Sooryavanshi, which revived the theatrical biz after the health crisis, minted approximately 1 crore net in its 6th week, and is currently the second biggest for Khiladi Kumar. (adsbygoogle = window.adsbygoogle || []).push({}) Akshay Kumar's Biggest 6th Week Grossers (Post Covid) S. No. Movie 6th Week Collection 1 Bhooth Bangla ₹ 5+ Cr (expected)* 2 Sooryavanshi ₹ 1 Cr 3 Jolly LLB 3 ₹ 0.78 Cr 4 Kesari Chapter 2 ₹ 0.75 Cr 5 OMG 2 ₹ 0.59 Cr The strong theatrical performance has once again reaffirmed the popularity of the Akshay Kumar–Priyadarshan combination among family audiences. The duo, known for cult comedy classics over the years, reunited after a long gap, and the nostalgia factor has clearly worked in the film's favour. The film has performed especially well in Tier-2 and Tier-3 centres, where comedy entertainers continue to enjoy massive acceptance. (adsbygoogle = window.adsbygoogle || []).push({}) The movie crossed the 100 crore milestone during its second weekend itself and has since maintained a steady run at the ticket windows despite a new release every week. Overseas markets have also contributed significantly to the film's success, helping it become one of the highest-grossing Hindi films of the year worldwide with over 262+ crores gross. With its theatrical run slowly nearing the final phase, Bhooth Bangla has already established itself as one of the most successful films for Akshay Kumar in recent years. The film's strong sixth-week performance proves that content-driven entertainers with strong audience connection can still enjoy a lengthy and profitable run in cinemas. (adsbygoogle = window.adsbygoogle || []).push({}) Bhooth Bangla Box Office (India Net) Week India Net Collection Weekly Change Week 1 ₹ 84.40 Cr — Week 2 ₹ 43.75 Cr -48.16% Week 3 ₹ 21.85 Cr -50.06% Week 4 ₹ 14.30 Cr -34.55% Week 5 ₹ 7.15 Cr -50.00% Week 6 ₹ 5+ Cr -30% Approx.