EXCLUSIVE: With 21 days lockdown, Bollywood to suffer around INR 500 Cr loss, reveals trade analyst

In a candid chat with us, trade analyst Girish Johar revealed that if the situation of lockdown persists, the industry will incur nearly 300 crore loss in April alone.
EXCLUSIVE: With 21 days lockdown, Bollywood to suffer around INR 500 Cr loss, reveals trade analystEXCLUSIVE: With 21 days lockdown, Bollywood to suffer around INR 500 Cr loss, reveals trade analyst
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Indian Prime Minister Narendra Modi announced a countrywide lockdown starting March 25 in the country in the view of coronavirus outbreak. Today is the third day of the lockdown and while everyone is dealing with quarantine in their own way, the entertainment industry is suffering huge losses. The shootings have been stalled, releases postponed and with no further update, we asked trade analyst Girish Johar as to how much do they assess the loss to be. In a candid chat with us, Girish revealed that if the situation persists, the industry will incur nearly 300 crore loss in April alone. 

"It will be a big confusion. I hope it normalizes soon. It is a double-edged blow, double punch on our face. With both eyes blue, I hope we don't get knocked down and brave this out. There is definitely hope, we just have to stand together and fight it. In terms of losses, it has been huge. Earlier we had calculated a net loss till March which was around 500 crore. And now, April is a huge month and if this continues, April alone can cost another 500 crore loss. April traditionally has been an important month, companies open their new financial year, all big films release, Hollywood films release. It is the booming month for everyone. Technically, April is an entertainment month given exams get over, financial year only begins. It has always been a prosperous month for Bollywood," he said.

ALSO READ: EXCLUSIVE: Coronavirus Effect: TV industry to suffer 100 crore loss with shut down, says JD Majethia
 

What about the films which have been pushed. How will everything be accommodated later? To this, he added, "I think nothing will happen until Government relaxes. Zero content is being shot right now. When the new releases will come is also a question. Only when the lockdown ends, critical stakeholders will come together and decide how things will pan out. It is going to be a thought-through strategy."

Ranveer Singh's '83 was supposed to release in April. 

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