Kasturba Gandhi College for women
Department of Business Management
Topic; Impact of COVID-19 on
Indian
Entertainment Industry
Submitted by
T.Tejaswini
Roll no 1111-19-672-060
INTRODUCTION
The COVID-19 pandemic has had a substantial impact on the film
industry in 2020
All entertainment production spaces have been officially locked
down and all talents whether in front of or behind the camera has
been quarantined.
It is a tough time for global film industry, for which the pandemic
represents a disruption of seismic proportions.
Experts estimate the entertainment industry has lost more than
thousand crore because of the lockdown.
This is the first time in our history that the entire India box office
is zero.
While box offices and event management companies take a huge
blow, Ott services are more in vogue than ever before.
IMPACT ON BOX OFFICES
With theatre releases postponed, shooting on hold, and cinema
halls closed, absolutely nothing is certain.
Even when theaters open, social distancing norms and weakened
livelihoods are likely to prevent people from thronging to watch
movies.
Due to this large budgeted films competing for release dates,
smaller production may lose out.
Cinema theaters may lose box office collection worth 4000 crore
in 2020.
IMPACT ON TELEVISION SHOWS
During the lockdown, TV consumption has actually increased, with
so many people being homebound.
Viewers regularly watch news to stay up to date with the latest
developments in the mid of crisis.
Doordarshan airing Mahabharat and Ramayan to minds. For two
weeks the channel became the most viewed in the world.
The trouble of course is that advertising has shot down, as
companies providing revenue are facing trouble themselves.
Postponement of IPL will mean further loss of advertiser interest.
IMPACT ON OTT PLATFORMS
During this period OTT media services appear to glimmer of hope.
There has been increased usage of these platforms over the last
few months.
Many users, who may never experienced OTT services before, are
opening themselves up and exploring them.
They are also getting used to, and fond of, the pause and play
options that are not available on dish television operators.
Multiple platforms are providing subscription free usage of their
services.
Though OTT platforms were making place for itself in the Indian
market, the crisis gave a push that increased viewers appetite for
online content.
LOCKDOWN EFFECTS
With theatre releases postponed, shooting on hold, and
cinema halls closed, absolutely nothing is certain.
Even when theaters open, social distancing norms and
weakened livelihoods are likely to prevent people from
thronging to watch movies.
Due to this large budgeted films competing for release
dates, smaller production may lose out.
According to industry estimates the film industry has
already lost of more than 1000 crore post the
implementation of national wide lockdown.
Cinema theaters may lose box office collection worth
4000 crore in 2020.
CONCLUSION
As the world is adjust new normal, consumer behavior is also
expected to change rapidly. Lockdown has fueled demand for at
home entertainment and consequently television and streaming
platforms have seen significant growth which is likely to persist in
future as well.
Few things which may happen includes;
Manner and method of content creation changes as the
production house and content creators will have to factor in social
distancing norms while shooting.
Many elements of content could be created digitally so as to
minimise the requirement of human contact.
Large concerts may be replaced by live streaming by performer on
youtube or instagram live and consequent revenue models will
change.
Advertising will significantly move online altering the manner of
advertising.
Movies both big and small may have to be released on streaming
platforms as people will be apprehensive of going to cinema halls.
Streaming service would replace cinemas as primary revenue source
for cinema.
Overall, the media and entertainment businesses will have to adapt the
new trends post covid-19 which will profound impact on the way
business is conducted and revenue is generated,. This will have great
impact on how future agreement and revenue streams are structured.
THANK YOU
