Gulabo Sitabo-Shakuntala Devi OTT Release: Trade Analyst Girish Johar Calls It 'Distress Sale'; Says, 'BO Loss Is Going To Be Mammoth'- EXCLUSIVE
As Gulabo Sitabo and Shakuntala Devi are set to premiere on Amazon Prime, multiplexes have expressed their disappointment with the decision. To know more about the losses of multiplexes like these, we got in touch with Film Business and Trade Analyst Girish Johar who termed it as distress sale.
Yesterday we woke up to the news of Ayushmann Khurrana and Amitabh Bachchan starrer Gulabo Sitabo making the world premiere on Amazon Prime and today Vidya Balan lead Shakuntala Devi. Amid the lockdown, the filmmakers are keeping their fans entertained but have taken a new route. Soon after, both the films announced their OTT premiere, multiplexes like Inox and PVR expressed their disappointment with the decision. To know more about the losses of multiplexes like these, we got in touch with Film Business and Trade Analyst Girish Johar.
When asked about how much money theatres owners will lose as films have started releasing on OTT platforms, he said, “We can’t put a number to these two films. Presently, the pandemic is so severe in this country that I don’t see cinemas opening for the next 2-3 months, at least. Even if the state government opens the lockdown and if cinemas open up audiences itself won’t come to watch the films until in their minds they have the safety thing back.”
“So answering your question, you can’t tantamount to a particular number for these two films. What is happened in the past is that this has become a zero box-office quarter for the first time in Indian cinema. Shut down strikes have had happened on regional or a state level, but pan India it has never happened. So with another 2-3 months of no cinema during this peak summer business month, which means another quarter of zero box-office, the earnings of half-year would come down to zero. During the BO 1st quarter we have roughly lost 1500 crores. With another zero box-office earning quarter, the loss would be mammoth.”
When asked about if the filmmakers of other films will also follow the suit he told us that he would like to call it as distress sale and whoever can hold will hold. So as of now, filmmakers have decided to release the smaller scale films on OTT platforms as they also have salaries of their cast to pay. He further added any big movie is unlikely to release on the platform. (ALSO READ: Filmmaker Kunal Kohli Dismisses Theatre Owners Criticism Over Gulabo Sitabo's Digital Release; Asks To Share Food-Beverage Revenue With Producers)
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