HOLLYWOOD: WINNING STREAK STOPPED IN TRACKS
Of late, Hollywood films have been doing exceedingly well in India, but
With shuttered theatres all over the world and millions of people staying at home, the movie business is feeling the heat of the Covid-19 pandemic; and that, too, when summer blockbusters should ideally have been the buzzword. The same holds true for Hollywood business in India, which was on a potent ascent in the country for the past four-five years. Last year, in fact, Hollywood films earned over ₹1,220 crore in India. The corresponding figures for 2017 and 2018 were around ₹850 crore and ₹950 crore, respectively. So, has the lockdown jolted Hollywood’s rise in India?
“With March quarter gone, and the next quarter also looking in doubt, it’s a tough period for everyone, including Hollywood. But don’t write 2020 off yet. If theatres can open around AugustSeptember, we will have the last quarter (OctoberDecember), which is the big festive period,” says exhibitor-distributor Akshaye Rathi, who “strongly believes” that regardless of what happens this year, 2021 will be an “astoundingly blockbuster” year thanks to “pent-up demand among people”.
Hollywood biggies would surely hope so, considering that last year, India got its highest Hollywood grosser of all time — Avengers: Endgame (earning close to ₹374 crore). Then, The Lion King made ₹158 crore, becoming the highest Hollywood animation grosser in India. Joker an versions. have number adult it earned easy, of rating But Hindi thanks ₹68 Hollywood and biggies crore, no to dubbed a despite won’t waiting release be a tough windows. in line fight and at “It’s the limited box going to office. have to Hollywood contend with films not will just Hindi films but also a barrage of biggies down south, too. So, it looks unlikely that the Hollywood business can be as big this year as it has been in the past few years,” says trade analyst Taran Adarsh.
Although a biggie such as the Vin Diesel-starrer Fast 9 has been pushed to next year, other much-anticipated films such as No Time To Die, Mulan, Black Widow, Free Guy, Top Gun: Maverick, Wonder Woman 1984, Tenet and The French Dispatch are still slated for 2020. “I won’t be surprised if more Hollywood films get postponed to next year because more than 70% of their business comes from overseas markets such as China and, of late, India, too. And whenever theatres reopen in India, I am sure Hindi films will get priority. So, Hollywood has surely taken a big hit,” says filmmaker Sanjay Gupta.