Foreign touch: No Hindi biggie without overseas market?

Now, it’s official. 2020 is unlikely to have any bright spot vis-a-vis theatrical earnings as no Bollywood biggie is going to lighten up the 70mm screen. Kabir Khan’s ‘83 -- starring Ranveer Singh and Deepika Padukone -- has been moved from the Christmas weekend, with one of the major reasons being, the new wave of Covid-19 cases and lockdowns in various parts of the world. Experts admit that as coronavirus cases rise again globally, the “road to recovery has gotten even longer.”

No biggie in sight

What makes the matter worse is the fact that though the film exhibition world is looking at a topline biggie -- after theatres reopening in India -- to help them revive the sector, insiders maintain that a big-budget project is unlikely to hit theatres domestically without the overseas market. To put things in perspective, according to the Ficci-EY media and entertainment industry report 2020, overseas theatricals contributed a whopping ₹27 billion to Indian films last year.

Experts feel that while smaller films can manage with India-only release, and other revenue streams such as TV and OTT but a big-budget film needs global earnings too. Says trade analyst Taran Adarsh: “Small or mid-budget films can still manage with a domestic theatrical release but since stakes are high for big budget ventures, they need the overseas cushioning. And why should they forego of a huge chunk? Especialiy when there has been no income for seven-eight months, and I am sure there must be a huge interest amount too (on unreleased films).”

Resurgence of Covid-19

For the record, the Covid-19 scare has hit almost the entire Europe again even as lockdowns have made a comeback in countries such as France, Germany, Italy and UK among others. Even Malaysia is currently seeing a shutdown of various activities including movie theatres. “We moved ‘83 from Christmas weekend for two reasons: one, by the time the announcement about Maharashtra theatres reopening came in, it was too late as just four-week long marketing window won’t be enough for such a big project,” says Shibasish Sarkar, group CEO of Reliance Entertainment (that has backed films such as ‘83 and Sooryavanshi), adding that “overseas markets look very tricky right now.

He adds: “With theatres being shut in many parts of Europe including UK, and cases going up substantially in the US too, things aren’t very clear. Ideally, for a big-budget film, you would want to release simultaneously -- domestically as well as in foreign markets.” Officially-speaking, as of now, Manoj Bajpayee-Diljit Dosanjh starrer Suraj Pe Mangal Bhari is supposed to release on Diwali and Christopher Nolan’s Tenet will finally hit Indian shores towards the end of this month.

The exhibition sector, on their part, feels that Indian filmmakers “need to be more pragmatic and practical.” As exhibitor-distribitor Akshaye Rathi puts it: “Hindi films are made primarily for desi market so why can’t they release domestically and also in certain overseas markets? Even Nolan said in a recent interview that content needs to come in for the survival of the entire theatrical ecosystem. Filmmakers need to think hard about it. If things don’t improve, and with no new content, many in the exhibition sector may shut down or go bankrupt in the next four-five months. Then, there will be no theatres to make films for, with the only option being streaming sites.”

A quick filmy lowdown!

Not just 2020, even the early-2021 film calendar looks hazy right now. While Vicky Kaushal-starrer Sardar Udham is not going to keep its January date, there is no clarity yet on Sooryavanshi release date too. Other films that were originally supposed to come out in around early next year -- such as Haseen Dillruba, Bachchan Pandey, Jersey and Atrangi Re have all been delayed. Among the films that are ready (in terms of complete shooting etc.) with no release date are Mumbai Saga, Bunty Aur Babli 2, Jayeshbhai Jordaar, Indoo Ki Jawani, Jhund, Shershaah and Sandeep Aur Pinky Faraar among others.