Bollywood Is Shaken By Coronavirus & OTT, But New Normal May Look Much Like The Past

posted in: All News, India | 0

Indian cinemas are shuttered, production continues to be at a standstill and the country remains in lockdown until at least May 31 due to the ongoing coronavirus pandemic. Unsurprisingly, consumption of television and streaming services has surged during this period. But digital may not be an existential threat to the film business.

India remains the most prolific film-producing country in the world, with an insatiable appetite for cinema, Hindi-language Bollywood, and regional. The 2018-19 financial year alone saw 2,446 films in 49 languages certified in the country.

According to the Ernst & Young annual report on India’s media and entertainment sector, theatrical business for 2019 was valued at $2.5 billion, making it fourth in the overall pecking order behind television’s $10.4 billion, print’s $3.9 billion and digital’s $2.9 billion.

 

Read more: https://variety.com/2020/biz/news/coronavirus-india-bollywood-amitabh-bachchan-vidya-balan-streaming-1234610552/