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Indian entertainment industry suffered 24% overall decline due to 2020 pandemic

Aishwarya by Aishwarya
December 21, 2021
in Entertainment
Reading Time: 2 mins read
0

Every set of the world is sharing the unfortunate part of the growing covid 19. With every new variant into the scenario, comes new challenges for the people and their government. The industry of entertainment genre is also facing obstacles to grow in this fast rate of pandemic growth. People are not able to go to the working places, everything has ended up being in a state of lockdown, lack of sponsorship programs, lack of investment, lack of outputs, all these have landed the entertainment industry into great depth of sufferings. At the end of the year, the news existed with the articles of most of the movies receiving less revenue compared to the previous years. Movies are getting released on OTT platforms and not on theatres, giving a huge dash to the revenue generation procedure.

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The problem of movie release to the struggle of just releasing the movie on Netflix, Amazon prime, and some similar OTT platforms prove to be the reason for the decreasing revenue generation from this industry. Not every people get the opportunity to watch the movies on OTT platforms because apart from their 1 month or so free using they tend to charge huge subscription prices. With this in view, people are gradually sacrificing their desire to watch the newly released ones. They probably arrange some free sites or prefer not to watch the same.
With the lack of grab over the public population, movies are not getting a great audience base. This created a scenario of sufferings within the industry which according to recent reports states to be facing a failure of about 24% from previous calculates. The pandemic has seriously affected the most growing and creative industry of almost every country in the world. With the expanding obstacles from the new variant Omnicorn, this situation can get further expand to a large extinct.

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Aishwarya

Aishwarya

A highly skilled and keen writer. Aishwarya loves to travel and explore, as a hobby she prefers dancing and sketching. Her highly ambitious nature gives her the strength to grow and succeed.

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