After bearing losses to the tune of Rs 350 crore owing to the two-month strike, the film and multiplex industry seem to be looking at a revival, driven by new releases and meaningful content.
Eros International?s and Saif Ali Khan?s latest release Love Aaj Kal opened to a box office response of 90% at multiplexes in Mumbai and a decent 75%-80% in smaller towns. Made on a budget of Rs 50 crore, the film opened with 1,800 screens across the country and recorded 25% advance bookings for the weekend. The film garnered around Rs 8.5 crore on the release day in India with most shows going house full. Love Aaj Kal has recorded the second highest first Friday collection after Ghajini, around Rs 9.25 crore.
Some multiplexes are playing 17-25 back-to-back shows across select properties in Mumbai. According to Cinemax senior vice president Devang Sampat, ?Love Aaj Kal has garnered the highest number of footfalls on its opening day beating Ghajini. The movie is the biggest hit of 2009 so far, beating the collections of New York and Kambakth Ishq. We recorded Rs 25 lakh (89% footfall) collection on the first three days with 24 shows running per day. The movie has extremely done well in Gujarat with almost 92% collections. With the recent releases it looks that the second half of 2009 is getting better and better for the industry.?
According to trade analysts, the movie has done phenomenally well on day one at the multiplexes as it collected more money than any other film on day one at the multiplexes. Comparing to other releases Kambakth Ishq, took net collections of Rs 7.25 crore on its opening day in India, whereas Singh Is Kinng stood at Rs 7.15 crore followed by Rab Ne Bana Di Jodi at Rs 7 crore.
Meanwhile, last weeks release Luck proved unlucky for the film industry. The film garnered an average 50%-60% collection over the weekend which dropped drastically to 30%-40%. The collection in Mumbai stood at around Rs 6.50 crore, while Delhi/UP grossed at Rs 3.30 crore.
The Indian audience now awaits the release of Ram Gopal Varma?s next horror film Agyaat pegged at Rs 5 crore, which is slated for release on July 7. However, multiplexes are hoping big from Vishal Bharadwaaj?s Kaminay, pegged at Rs 35 crore due for release on July 14.