Loss of 7,800 Cr PM for Theaters Due to Corona Shutdown

Loss of 7,800 Cr PM for Theaters Due to Corona Shutdown

Film Industry is going to be the most hit sector due to the ongoing Coronavirus scare. The several States in the country had announced shutdown the film theaters so as to prevent the community-spreading of the Wuhan born virus. Telangana Government also shutdown the theaters in the state.

CARE Ratings estimate that the Temporary shutdown of film theatres across the country will lead to a loss of whopping 5,800-7,800 crore of revenue loss per month for film exhibitors. Of this, 3,500 – 4,500 Crore will be for the sale of movie tickets, including GST loss of 800 – 1,000 crore.

They also estimate that the loss of revenue on the sale of food and beverages sale in theatres would sum to about Rs. 1,500 – 1,800 and additional 900 – 1,000 crore will be loss on advertising income. CareRatings is a full-service rating company that offers a wide range of rating and grading services across sectors.