The cost of production of the movies must come down. That is the decision taken by the producers and they are closing the shootings from August one on this account.
Theatrical revenues, except for blockbuster movies like RRR, KGF-2, Vikram and one or two others, have fallen to an abysmal low of 20 per cent.
This has hit the industry hard, which was already reeling under the COVID impact. Everyone is now worried about the sustainability of the industry in such a scenario,” the producer noted.
The producers have come together to devise ways to restructure the entire industry to ensure its survival, he added.
The movie makers have taken a major decision not to release any new movie on OTT platforms for 10 weeks after the theatrical release.
“Now, even movies of big stars are making it to the OTT within three weeks. This is further contributing to the drop in theatrical revenues. Small budget films are unable to survive in such a market,” another noted producer pointed out.
