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Bollywood unaffected by demonetization move

India's demonetization move
08 Nov 2016
  • Earlier last week, the Indian government announced that it would be abolishing high-value Rs.500 and Rs.1000 currency notes.
  • The demonetization was targeted at combating rising levels of unaudited black money in circulation and to battle rising illegal funds for terror operations.
  • The government announced that new currency notes of Rs.2000 and Rs.500 denominations will be issued.

  • Will the new move affect the Bollywood industry?
  • Reports stated that with demonetization coming into effect, India's mighty Bollywood industry could be impacted across the micro and macro levels.
  • Industry experts said that metros such as Mumbai, Delhi, Bengaluru, Kolkata and Chennai might see majority of the city's population shift to online transactions.
  • But smaller towns do not see people comfortable with booking tickets online, and resort to cash transactions.

  • Bollywood euphoric at demonetization move
    Positive notes
  • While the massive economic decision took many by surprise, a large chunk of Bollywood's leading stars strongly supported the decision.
  • Actors from Aamir Khan to Shah Rukh Khan endorsed the big move, stating that the larger picture would stand to benefit the country.
  • Their support comes in the wake of many Bollywood movies expected to take a backburner due to the demonetization.

  • Actors laud the government's decision
    "It (the decision of government) can affect the box-office for a weekend may be, because banks ATMs are all closed. But not after that. I hope by the time of Force 2 release, everything gets normal," said John Abraham.

    Movie releases take a hit, revenues plunge
    Weak earnings
  • Despite the demonetization coming into effect, movies like Rock On 2, Tum Bin 2 and Force 2 stuck with their original dates, while other like 30 Minutes and Saansein postponed their release dates.
  • After Rock On 2 released, their earnings were hit by 30%.
  • Most distributors observed that people across small towns would choose to save money for necessities, rather than spend for entertainment.

  • Bollywood unaffected by demonetization move
    14 Mar 2017
  • Sources stated that Bollywood has emerged unscathed from the demonetization saga, garnering over Rs. 1000 crore in just four months since the move.
  • Despite delays and low-key releases, the industry produced at least one Rs. 100crore success every month. Sources said the trend would continue based on releases this month.
  • It was earlier expected that Bollywood would be one of the seriously affected industries.

  • This post first appeared on NewsBytes: Latest News, Breaking News India, Today News, Current News, please read the originial post: here

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    Bollywood unaffected by demonetization move


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