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Report: Bollywood Box Office Estimated To Have 3500 Crore Losses By The End Of 2020
The COVID-19 pandemic has hit the national and global economy hard, and therefore it comes as no surprise that the Hindi film industry will have suffered massive losses by the time 2020 comes to a close.
Theatres across India were shut from March this year, and many Hindi films such as '83 and Sooryavanshi had chosen to postpone their release much before the lockdown was announced. As theatres begin to resume operations, with many restrictions in place, the losses that the Hindi film industry will suffer this year will be huge.
According to a report by Koimoi, the Bollywood box office will have suffered a loss of around 3000 crores by the end of 2020. It states that only 15 noteworthy films released between January and March before the lockdown was announced. Five out of these - Tanhaji, Baaghi 3, Street Dancer 3D, Shubh Mangal Zyada Saavdhan and Malang - did well at the box office.
Other films such as Thappad, Chhapaak, Bhoot - The Haunted Ship, Jawaani Jaaneman and so on, did not emerge as hits.
The report further points that no new films have been scheduled for release this year except for Manoj Bajpayee, Diljit Dosanjh and Fatima Sana Shaikh starrer Suraj Pe Mangal Bhari on November 13, and the Ranveer Singh starrer '83 on Christmas.
In contrast with the last few years' box office business owing to films like Uri: The Surgical Strike, Kabir Singh, Gully Boy, Chhichhore, Dabangg 3, Saaho and so on, this year's estimates seem paler.
Some films that were expected to do big business this year, such as Sooryavanshi, Laal Singh Chaddha, Radhe, Brahmastra, Satyameva Jayate 2 and so on, have been postponed to 2021, whereas some others like Bhuj: The Pride Of India, Coolie No 1 and Laxmmi Bomb will be releasing on OTT platforms.
Although this year may be a big setback to the Bollywood box office, it is expected to bounce back with full vigour in 2021.
