Chennai: No doubt Kollywood has come to a standstill following lockdown due to coronavirus outbreak. Theatres were shut and shootings cancelled. Feeling the pinch are producers, who are the flesh and blood of the trade. They risk the maximum in the business investing big money majorly borrowed for huge interests from financiers.
With films in various stages of production hitting a roadblock, these producers stare at a blank future. They are uncertain of recovering their investment considering the plight of the industry.
Speaking to News Today, Sekar, an industry-tracker, says, ‘these producers have to pay interests for money borrowed to bankroll their respective ventures. Since their schedules have gone awry and release of movies have become uncertain with no business being done, they are clueless on how to repay money’.
“Producers of big-star movies may lose upto 40 per cent, while those bankrolling small and medium budget films stare at over 30 per dent loss”.
When contacted, producer G Dhananjayan, said, “It is a global phenomenon. Not just us but the entire entertainment industry is looking at an uncertain future. We can’t predict the outcome”.
“We have to redraw our strategies. Those ventures on the floor may be completed, while the to-be launched projects from us may wait for some more time”, he added.
“We have no option but to wait and watch. I would call it a collateral damage. Hopefully by July-August cinema halls have to reopen. We should see how people respond and come to theatres”.
“There will be a long queue of movies waiting to release once theatres open gates. We have lost summer holiday schedule. This is always the best time to see people come to theatres with family”.
Remember Dhananjayan’s Kabadadhaari was supposed to release in Tamil and Telugu last March. However it has been deferred following closure of theatres fearing corona outbreak.
Producer Suresh Kamakshi, says, “One should feel for us. Our huge investments are at stake. The business process in the industry may go for an overhaul now.”
“Foreign market for Tamil movies and demand for Hindi rights are on a high. But both are out of our reach now following COVID- 19 fear. In that case, one has to see when cinema halls in US, UK, Dubai, Singapore and Malaysia open. They contribute a major part of revenue for our big hero films”.
Members from all bodies of Tamil cinema have to sit, discuss and rewrite the entire process. With markets getting shrunk, it’s inevitable that actors’ remuneration will have to come down. Discussions with financiers should throw light of payment on interest, he adds.
Asked whether OTT platforms would acquire small movies now, Suresh Kamakshi, said, “it’s fine for small films which anyway would find it difficult to make it to theaters”.
“No new films will be launched. And, there is a fear whether audience would come to theatres in large numbers again once they are re-opened. Economic slowdown has burnt a hole in pockets of common man. All I can say is that let’s keep calm and wait for things to turn normal,” he added.