Bollywood Seeks to Recover Covid Losses With a $135 Million Film Deal
13:06 GMT 13.09.2021 (Updated: 10:39 GMT 19.07.2022)
Several Bollywood filmmakers such as Pushkar and Gayatri, Vikramjit Singh, Mangesh Hadawale, Srijit Mukherji, Sankalp Reddy and many others have teamed up with some of the biggest stars to make new films within a span of 36 months.
With an aim to bounce back and recover the losses caused to the film industry by the COVID-19 pandemic, two of India's biggest film studios - Bollywood major ‘T-Series’, and Business tycoon Anil Ambani's ‘Reliance Entertainment Ltd’ - have signed a big deal for about $135 million.
Under this deal, more than 10 features films and series will be made that will range from action thrillers to historic biopics, dramas and comedies.
While several cities are opening up cinema halls amid a drop in COVID-19 cases, states like Maharashtra, which is the Bollywood hub, have yet to allow movie halls to operate freely.
Bhushan Kumar, Chairman and Managing Director of T-Series, told Indian media during a press conference on Monday that since Maharashtra is yet a “huge market” and key to box-office success, the continued closures were costing the industry as much as $54 million per month.
Pinning hopes on the government, Kumar feels that all cinemas across the country will restart by early November in time for Diwali, one of India’s biggest festivals of light, depending on the COVID situation at that time.