Bell Bottom Reports A Below Par Day One Due To Restrictions

Akshay Kumar starrer Bell Bottom was released across 1,500-1,800 screens on August 20 (this is half as compared to pre-COVID wherein such a large film would release across 3,500-4,000 screens). 

The collection has been below par primarily due to very low occupancy in morning shows and night shows not being allowed, many malls asking for vaccine certificates, Mah state being shut (contributes almost 25% of Box Office and occupancy cap in almost all states."We expect the numbers to move up towards today and Saturday, however, estimate first-weekend net collection of almost INR 20cr for the film, as of Sunday’s too many states still have restrictions," says Karan Taurani, SVP – Research Analyst, Elara Capital.

It is believed that relaxation on night curfew and weekends will be a key monitorable for now, it is more important for these to move to normalcy even before 50% occupancy cap becoming 100%, as weekend occupancy is almost 50%-60% (annual pan India avg) and night show occupancy on weekday/weekend is highest all throughout and hence these factors remain very imp for cinema recovery.

"The film will collect almost 50-60cr lifetime in line with our expectation basis occupancy situation on Saturday and Sunday ; however, we believe a lifetime collection of below 40cr Maybe a mild negative for near term, as it may further delay new large film announcements and in turn delay film recovery," adds Taurani.

This wave of COVID has one respite vs Wave 1, that larger film producers of Hindi films are willing to opt the cinema route post the debacle of films going direct on OTT and some respite in the overseas market.

"However, the above events will only impact near term performance; medium to long term we maintain our positive stance as restrictions will ease off eventually; the problem post this second wave is not about people not wanting to go to the cinema or large film content not releasing, it’s more about things moving to normalcy, which will expedite once a larger portion of the population is vaccinated with two doses," he comments.