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Currency Ban Has Hit Telugu Film Industry Hard. Here's How

"There are no collections (at the box office). Money is not in circulation. Telugu cinema industry is also hit hard like some other sectors, because middle classes are the main consumers of cinema," Tammareddi Bharadwaja, a prominent filmmaker

  | November 16, 2016 15:33 IST (Hyderabad)
Demonetisation

A still from Intlo Deyyam - Nakem Bhayam

Highlights

  • 'Telugu cinema industry is also hit hard,' said a filmmaker
  • 'It may take a month for things to settle down,' he added
  • Top stars may not reduce their remuneration as is being predicted
The currency ban has hit the Telugu film industry hard with deserted theatres and filmmakers rescheduling the release of new films.
The impact is such that the turnout of audience in cinema theatres in Hyderabad and in other parts of Telangana and Andhra Pradesh has fallen drastically.
"There are no collections (at the box office). Money is not in circulation. Telugu cinema industry is also hit hard like some other sectors, because middle classes are the main consumers of cinema," Tammareddi Bharadwaja, a prominent filmmaker and a leading industry voice, told PTI in Hyderabad.
"The makers of some small-budget films have postponed their release in view of the prevailing situation and notable among them is comedy hero Allari Naresh's Intlo Deyyam - Nakem Bhayam," he said.
It may take a month for things to settle down vis-a-vis Telugu film industry, he added.
He also said it is unlikely that the actors would seek lesser pay owing to the government's currency ban.
Top stars may not reduce their remuneration as is being predicted by some, he said.
"Nobody will reduce. They may not do films for some days," he said.
Mr Bharadwaja also said that the presence of black money in the Telugu film industry is understood to be less. Those making films to bring their black money into circulation do not make it with the motive of revenue, he said.
The films made by such people may not even see the light of the day as they make films only to bring their money into circulation, Mr Bharadwaja said.
If the system of taxation changes, people may not seek to evade taxes, he added.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

 
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