2020 was a catastrophic year for the Indian film industry. Halting of shoots resulted in unemployment for several low paid, daily wage workers, and contract labourers.
Movie theatres were among the first to get shut in March after COVID-19 cases emerged in the country and are still struggling to get people back to cinemas after the govt allowed them to run at 50 percent capacity.
However, things are slightly improving now, with the big releases expected to come January 2021 onwards. Shootings have resumed and advertisement revenues are also bouncing back. Subscriptions will remain the key growth stream going ahead.
The film industry contributes a large chunk to the Indian economy. The industry in FY20 saw revenues of Rs 183 billion and has been seeing 11 percent compounded growth in the last 4 years.
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