The future of multiplexes in the wake of the epidemic is questionable

- Looking at the current trend, the industry will see a huge change in the near future

The economic activities stifled by the Corona epidemic brought clouds of trouble to all industries. However, with the mitigation of the epidemic easing, other industries, including various government measures, have revived most of the industries. However, one industry has yet to emerge from the epidemic and it is difficult to say when the industry will thrive in the near future.

The industry that has been in trouble for the last 15 months is the multiplex theater. The multiplex industry came to a standstill due to the restrictions imposed when the first wave of Corona hit the country last year. However, multiplexes were allowed to open subject to certain conditions as restrictions were eased. But people stayed away because of the panic.

Then in the second phase of the transition the multiplexes were closed again as the restrictions were implemented again. Which is closed to this day. Thus, the industry has come to a standstill for the last 18 consecutive months, raising questions about its future.

It should be mentioned here that the turnover of the film industry in the country in 2017 is approximately Rs. 12100 crore. It has come down to Rs. 200 crore was landed. Thus, in a single year, 5% of the box office earnings were washed away. More than 1,200 theaters closed in the country, with single screen theaters accounting for the largest share. When multiplex companies fell into the pit of loss. Thus many questions have now arisen against the future of this industry.

According to sources close to the industry, about 50 films are currently ready for release. But due to restrictions it has not been released. These films will be released if the multiplex opens and there is optimism that people will also turn to this. Globally, there was a resurgence at the box office after the lockdown in the US and UK.

There are three key issues that need to be addressed in order to revitalize the industry. Including vaccinations and adherence to restrictions in the country, and the release of films with appropriate subject matter. It is worth mentioning that in the last 12 months, many good films have been released on the OTT platform. The dominance of this platform has also increased globally. These small budget films will run on OTT and big budget films will do well in theaters.

Another important point is that in the last 12 months, viewers have turned to films in other languages. Given this, the share of languages ​​in the South is likely to increase to 30 per cent. Thus, in the near future, high quality foreign films will continue to be popular due to dubbing and subtitles. In the near future, the industry will see a big change due to the epidemic.