Third wave set to delay multiplex recovery: Crisil
The Hindu
‘Big ticket movie releases postponed indefinitely’
The Omicron led third wave of COVID-19 pandemic is expected to impact new film releases and thus push the revenue recovery of multiplexes farther by three to five months, said Crisil.
“The reimposition of localised lockdowns and temporary closure of multiplexes in key States to contain the third wave of Covid-19 infections are expected to cut footfalls and compel producers of films to defer new releases,” the credit rating agency said in a report.
That would push back full revenue recovery of multiplexes to the second half of next fiscal, versus the first quarter we expected earlier, it added.
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