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Film industry lost nearly Rs 4,000 crore in 2020 during the lockdown: Will OTT channels come to their rescue?

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Sooryavanshi has been postponed. The Akshay Kumar-Katrina Kaif starrer cop action drama, which was supposed to be Bollywood’s first mega release of the year on April 30, has been pushed, with no new release date announced. The reason, of course, is the current Covid situation in Maharashtra.

The buzz is the production houses backing the film — Reliance Entertainment, Dharma Productions, Rohit Shetty Picturez and Cape of Good Films — were never keen on putting up “Sooryavanshi”, an extravagant Rohit Shetty entertainer, for a direct-to-OTT release. According to sources, the makers are now assessing the situation. They will make a formal announcement around April 10 if they plan to drop the film directly on OTT irrespective of whether it gets a theatrical release.

“Team Sooryavanshi postpones the release of the film. The Honorable Chief Minister of Maharashtra, Mr. Uddhav Thackeray had a discussion with director Rohit Shetty yesterday. In the meeting, Mr. Uddhav Thackeray appreciated Rohit Shetty as he took the brave and difficult decision of postponing Sooryavanshi owing to the current COVID situation in the state,” a statement issued by the makers of tye film on Monday evening reads.

While Bollywood is in a tizzy over the current shutdown of cinema business in Maharashtra, one of the most important markets for Hindi films, the fate of “Sooryavanshi” could have ramifications on film trade trends far beyond just the film. Being one of the most important Bollywood biggies of the year, the decision whether such a huge film goes directly to OTT could set the course for other films as far as future exhibition trends go (at least for now), in an industry that is quick to adapt herd mentality.

When cinemas opened up after last year’s lockdown, Bollywood was quick to announce a rich line-up of films, beginning March this year right up to the yearend. “Mumbai Saga”, among the first big commercial films to release in cinemas, fared below expectations, what with the public maintaining a cautious stance about visiting theatres. Still, the big films of big banners were undeterred and insisted they would go ahead with release.

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