This is how demonetisation is affecting Bollywoods business

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Posted: 8 years ago
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The Narendra Modi government's decision to demonetise Rs. 500 and Rs. 1,000 currency notes has resulted in serpentine queues outside banks. But the rush outside movie theatres has vanished. The box-office business has fallen by over 50% since the announcement was made, as per trade estimates.

What Trade Experts have to say:

Trade analyst Komal Nahta puts things into perspective. "It would be foolish to believe that the box office hasn't been hurt, especially when movies are not among people's priorities at the moment. Upcoming films will be affected too," he says.

Small towns affected

Trade expert Amod Mehra feels the makers of Rock On 2 and other upcoming films should have pushed their release dates "to avoid getting affected". However, he is quick to add that it is "their prerogative". "At a time when people are saving cash for more important things such as travelling and food, not many people will want to spend on movies. In fact, many shows have been cancelled across the country in the past few days," he says.

Experts contend that while audiences are still "trickling in" into theatres in small numbers in the larger cities, business has fallen rapidly, especially in small centres and single-screen cinema halls. "In smaller towns, the business has been worse because the cash crunch is more severe in those places. Also, unlike bigger cities, the penetration of plastic money is negligible or does not exist at all. They are struggling with their day-to-day routines," says exhibitor and distributor Akshaye Rathi.

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https://boxofficeindia.com/report-details.php?articleid=9294 https://x.com/HimeshMankad/status/1955983961336729692?t=CAhr2rI0TqhDEvA0FosyqA s=19...

https://boxofficeindia.com/report-details.php?articleid=9294
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