While COVID-19 pandemic has hit businesses and economy at large, there are few sectors more ravaged than the other. Ever since the pandemic started last year and now India faces the wrath of the second wave, theatres and multiplexes have had to endure sizeable losses. So much so that, around 1,000 screens had to permanently shut shop last year. As it turns out, the second wave of COVID is further draining the life out of the screens, which are already fighting to sustain.
Due to the COVID transmissibility, SoPs advise against mass gatherings in closed places. In that sense, theatres and multiplexes were first to be shut down as they would easily be turned into super-spreaders. A time when blockbuster releases would cause theatres to display signs of "house full" have now become history, which is the tragic outcome of the dreaded pandemic.
Second wave impact on single screens
Experts predict as many as 2,000 screens will shut down permanently by the end of the second wave of COVID. Noting some permanent closures, Money Control reported that a 70-year-old Lakshmi Theatre and Shree Nagaraja theatre in Mysuru are closing down for good. According to EY's 2020 report, India had 9,527 screens, of which a large majority, 6,327 were single screens and 3,200 were multiplexes. Due to the pandemic, it's only a matter of time before the total screen count in India falls to below 7,000.
The theatres might be shutting shop due to losses, but its impact will be directly reflected on box office collections. The single screens are the biggest contributors to regional films' box office, which trails anywhere between 60 to 65 percent. As for Hindi films, 70 percent of the collection is from multiplexes, which means the Bollywood box office will comparatively take a smaller dent, but it will still leave a mark.
Generally, when some screens close, there are new ones added to balance out the equation. But the pandemic has slowed down, or in some cases even halted the opening of new screens. For instance, PVR, which has the highest screen count in India, witnessed slowest new screen addition this year with just 13 while it had even shut down 16 of its screens due to the pandemic. INOX has also deferred plans to expand its screens in India.
This comes at a time when both Bollywood and regional cinemas are gearing up for some blockbuster releases. With the closure of screens, there won't be theatres for people to watch their favourite flicks.
