Third Wave may push back Multiplexes Revenue

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 India may see the third wave of the Omicron-led Covid-19 peak by the end of January. According to the health expert view, India’s in the early stage of the third wave. Experts also felt that 3rd wave may affect a majority of business segments around the world. As of the source, it will affect the recovery in multiplexes revenue by up to 5 months. Because the government intended to temporarily close movie theaters due to the spread of Covid and Omicron. 

As objected to the first quarter earlier, the multiplexes will not be able to fully recover their revenues until the second half of the next fiscal year, said officials. However, all the business personnel felt that recovery in revenue may expect to take a sharp step when the government revoked Covid restrictions. It was also witnessed during the second wave of Covid.

Further, other cities in India such as New Delhi, Haryana, Bihar, and Maharashtra also implemented covid restrictions on multiplexes. Moreover, they will postpone new film releases and reschedule after the government left those limitations.

A source stated that the big-ticket movies have already been postponed their festival schedules. Because they felt that the third wave may reach the peak stage in the month of February. It will end at the end of March. So, those films may resume their works during the Q1 of FY2023. 

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