When 2008 ended with a bang — Ghajini and Rab Ne Bana di Jodi did bumper business in the month of December — the film industry was hoping that some of that success would continue in 2009 too.
And with biggies like Chandni Chowk To China, Billu and Delhi-6 slated for release in the first two months, fireworks were expected. Sadly, films this year have come and gone with nothing more than a whimper.
The losses, say trade experts, could be anything between Rs70 to 80 crores. “CC2C, Billu and Delhi-6 (still running) will lose more than Rs 65 crores together,” says trade analyst Amod Mehra. “And with other films like Luck By Chance and Victory failing too, this figure easily touches the Rs80 crore-mark.”
Last year, Jodhaa Akbar and Race, which released in the first quarter, gave the industry something to smile about. This year, only Raaz-The Mystery Continues and Dev.D have managed to make some sort of impact in the first two months.
But the returns from these two films, say experts, are negligible when you take into account the losses the biggies have incurred. “All the three big films have been terrible letdowns. The situation has been worrisome so far, but usually things pick up from here on,” says Taran Adarsh, editor of Trade Guide.
Adarsh is hinting at summertime, which is considered to be a good time for films to release, with people in the mood to be entertained during the holiday period. However, it seems like this year the bad spell will spill on to summertime too. March will understandably see no big releases, with examinations taking most of the month.
However, the period following will be anything but bountiful, with the second season of IPL kick-starting on April 9. The tournament was a huge success in its first edition in 2008 and only Jannat made some sort of impact during the tournament last year.
“It will only get worse from here on,” foresees Mehra. “Most of the films that will be releasing in the coming months (March/April/May) are those that were started last year, when recession hadn’t yet set in. Today, the situation is very different. There are hardly any returns and the bad films aren’t helping,” says Mehra.
In fact, turnouts at cinema halls lately have been so low that even multiplexes are drastically cutting down prices to encourage more people to come in. “It’s been quite disappointing since Ghajini last year,” admits Girish Wankhede, deputy general manager of Cinemax cinemas.
“All multiplexes slashed their prices by 20% a few weeks back. It was always on the cards, but of course the slump and lack of turnout at cinemas have made us act faster.”
Mehra isn’t surprised. “What else can they do with these places sporting a deserted look? What needs to be seen is whether multiplexes will keep the prices low for long, or only till the exam period ends,” he says.
Adarsh continues to remain hopeful. “Although things may remain down for a while, there’s a major line-up of films in May and June, like Kambakkth Ishq and Kaminey and things should improve then. Besides, the small films releasing during IPL should look to make a mark. They will get sufficient playing time and good shows in multiplexes. Quality small films should benefit from the period,” says Adarsh on a more positive note.
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