Coronavirus Pandemic and the Lockdown is taking a toll on the theaters business. After remaining shut for eight months, the future remains bleak for theaters and so, many theaters are thinking it better to shut down for good. As many as five cinemas have permanently closed down and there are reports more will follow.
The closed theaters are Galaxy (Tolichowki), Sri Rama (Bahadurpura), Shanti (Narayanaguda), Amba (Mehedipatnam), and Sree Mayuri (Kavadiguda). Four of the five theaters were leased by Leading e-commerce firm, Amazon and will be used as warehouses.
The fifth cinema will give way to a commercial complex. As fate would have it, the advent of the OTT platforms led by Amazon Prime Video played a crucial role in the downfall of the single theaters but Amazon’s e-commerce arm came to rescue the theater managements by acquiring them as warehouses.
This development has come at a time when the Telangana Government agreed to re-open the theaters with 50% occupancy. The state government also promised to extend many incentives to the struggling film industry.