Film Industry News Events

India's gross box office statistics

India's gross box office statistics reached Rs 4,002 crore in the four months to April, signalling the best-ever performance post Covid despite the impact of the third wave and the closure of a number of cinemas.
It was also the first time that the monthly average box office exceeded Rs 1,000 crore, thanks to films such as K.G.F: Chapter 2, RRR, The Kashmir Files, Beast, Gangubai Kathiawadi and Valimai.
"Over the last two years, when cinemas were shut due to the pandemic, many analysts were quick to write an obituary of the theatrical medium.
The theatrical medium has not only bounced back but emerged stronger than it has been in decades. 2022 will be the biggest box office year till date, and by a good margin too."
Strong content works universally, language no bar The Indian cinema lover no longer cares where the story is set, or where the star is from. Content is truly king. What else would explain the craze for Allu Arjun’s Pushpa:The Rise? if you have strong content, it will resonate universally.
Today, consumers have a lot of power and word of mouth can harm a company, as well as turn a so-so film into a rousing success.
The film industry is just as dependent upon a strong economy as other businesses, maybe even more so since entertainment money is by definition discretionary income. Still, for many people, especially if their choices are limited due to social distancing and other health factors, entertainment remains a priority. While going out to movies has taken a hit in 2020 and 2021, the love of movies and good stories has only increased during that time.

Pandemic & dilemma for film festival/ market organisers

The physical components of January festivals Rotterdam and Sundance and the European Film Market in February have been forced online by the pandemic, meaning it will be three years since their last get-togethers should they return as in-person events next year. By March, international film events will be reaching a third pandemic-afflicted edition; and while vaccines have reduced the virus' damage, events are still walking a tightrope between holding in-person events and being overwhelmed by case numbers.

This uncertainty is not sustainable in the long term, and while numerous events took place last year with varying degrees of 'Covid safety', such measures are expensive - prohibitively so for some. With the less-deadly Omicron now widespread in many countries, film festivals may follow other industries in reducing testing and returning towards a scenario where illness is the determining factor in attendance, not swab results. With Cannes now under 130 days away and counting (gulp), for now, the industry is crossing its fingers - and holding its breath.
…and neither can buyers and sellers
International sales companies and distributors are at sea over their immediate next moves, with many now likely scrambling to move their Berlin flight to Cannes.or wondering whether to attend a festival-only event. There's a nervousness in the market as we head into the third year of the pandemic, with sellers wondering where on earth is best to hold the sales or theatrical launch of a title and fielding growing concern as to whether their long-time distribution clients are in even in a position to buy new titles. Many are still working their way through the release of a backlog. “Normally at this time of the year, we'd be setting out our strategy up until Cannes and beyond but this year, we can't figure out what is going to happen over the coming three months,

New Year & Indian Film Industry

Year 2022 arrived but more than rejoicing, people are worried about a possible third wave of Covid-19. With the cases soaring, showbiz is facing the heat, too.

Omicron cases, forcing state governments to introduce new measures to curb its spread and leaving the industry disrupted yet again. S.S. Rajamouli's magnum opus RRR initially scheduled for January 7 has also been postponed. It's likely that Prabhas-starrer Radhe Shyam and Akshay Kumar-starrer Prithviraj will also skip their intended January release dates. Shahid Kapoor's Jersey was meant to be the last release of 2021 but has now been pushed to 2022 after the Delhi government declared cinemas would not be allowed to operate under the new guidelines.

Many other 2022 releases are likely to be impacted too. Nonetheless, audiences will hopefully be able to see these films, most of which have opted for the theatrical-release route.

The Indian film industry has consistently performed well across years and has emerged as the largest in the world in terms of the number of movies it produces annually. However, the year 2020 presented a crude shock to the prospects and promises of the industry. The catastrophic effect of the pandemic in the year 2020 led to the drop in the global box office by as much as 72% with a mere $12 billion collections across the world in the form of ticket sales.

The value of the film industry in India in financial year 2020 was about 183 billion Indian rupees. This was expected to more than half the following year due to the coronavirus (COVID-19) pandemic. Estimates for fiscal year 2022, however, showed a growth of 196 percent.