Media and Entertainment

COVID-19 at the movies

The year 2019 had been a groundbreaking year for the Indian film industry, which saw some of its best box office performances in the past decade. As content took center stage, many films of various budgets witnessed success at the box-office. However, the year 2020 seems to be a completely different story.

The outbreak of COVID-19 in December 2019 has left the global economy in a state of mayhem. While, the true impact of COVID-19 was not truly experienced in India until early March, the country knew it was a matter of ‘when,’ and not ‘if’. By March 15, 2020 we saw the Central and State Governments introducing policies to limit social interaction, ordering shut down of establishments and taking precautionary measure to implement ‘social distancing’. The limitation on movement and a fear of contracting COVID-19 steered a large number of people away from cinema halls and into their homes, impacting the movie business within India and around the world.
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Challenges and Opportunities in the Indian Media and Entertainment Industry - Film Industry

The media and entertainment industry in India enjoyed a stellar performance in 2018, with the film segment expanding by 12.2% to reach an annual revenue of INR 174.5 billion. Of this amount, the domestic film revenues crossed INR 100 billion with Net Box Office Collections for Hindi films at INR 32.5 billion – the highest ever.

The number of Hollywood films released in India fell from 105 in 2017 to 98 in 2018. Hollywood films (consolidated with Indian language dubbed versions) reached Net Box Office Collections of INR 9.21 billion. Thirteen Hindi films reached the INR 100 crore mark in 2018, the highest number the industry has ever seen. Multiplexes added to the total screen count to reach 9,601; however, the number of single screens declined.[1]
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