COVID-19 hits hard on the Entertainment industry

Mumbai, Maharashtra: The pandemic outbreak has terribly impacted each and every industry. The magnitude might vary but the road ahead was definitely unpredictable and cannot be ignored. The entertainment industry, specifically the film industry has geared up to minimise the impact on depending businesses across the globe. The film industry has been one of the worst affected areas as both the production and consumption requires a lot of workforces to work together both in the interior as well as exterior setups. With the entertainment sector facing major disruptions, the pandemic forced the shutting of production studios and movie theatres, amongst other mobile and permanent premises.

Also with no monetary movement, the industry had to lay off resources, cut down salaries, dissolve positions and even rationalise the hefty expenses. The prolonged covid wave has lead to unforeseen damages to the working patterns.

But eventually, OTT platforms have gained more interest from the homebound audience. Thus, with an exception, content viewership increased with this diversification.

As per the report released by The Indian Broadcasting Foundation, the advertisement bookings have declined by almost 50% due to the cancellation of big events like IPL, and slowdown of industries. Though subscription-based earnings could improve in the upcoming period of time. However, new content is a basic factor to retain and increase the viewer base for the OTT platforms. On the other hand, small and mid-size media and production houses have been affected severely with a direct impact on wage earners like cameramen, chain artists, spot boys, light boys and other contractual earners in the entertainment industry.

With the lockdown coming at ease, lesser restrictions and life coming back to normal, slowly the flow of revenue is beginning to pick up the pace.

Further, many media companies, including broadcasters and OTT platforms have undertaken various relief measures to support survival of the production ecosystem.

Roxy Studios, a Mumbai based photography and videography studio and production house plans to expand its services across various verticals while intensifying its CSR activities by undertaking various initiatives to fight the covid pandemic. Also, they have sponsored medical support to more than 500 individuals and NGOs and distributed 1000 vaccines. Further, they aim to reach a 10,000 mark by the year-end. The company has also been distributing nearly 900 food parcels every day in Kolkata and Mumbai region.

Indian Performing Rights Society or IPRS has come up with an emergency fund supporting its authors, music composers, and other members across cities.

All India Cine Workers Association (AICWA) has requested the Maharashtrian government to provide Rs.5000 and essentials per month to wage-earner in the Indian film industry.

Indian Singers Rights Association or ISRA held a 3-day long concert with an aim to raise covid relief funds. The concert was stream online via the OTT platforms.

Director & filmmaker, Ekta Kapoor has also extended financial support to the rendered-out paparazzi by forgoing a year’s salary of 2.5 crores for the employees at Balaji Telefilms. In addition to Kapoor, filmmaker Rohit Shetty and actor Hrithik Roshan have also extended their support to the wage earners for their basic survival.

The COVID-19 ambush has pulled the world behind by at least a couple of years and returning to normal life will take few years. But with collective efforts by the industry players, the future holds a constant growth pattern.