Will the new currency regulation impact the box-office?
Time and again path breaking regulations, that initially appear draconian, turn out to be a manna from heaven, in the long run, especially for law abiding citizens. And after the initial hue and cry and the usual pessimistic ranting, the nation is realizing the ensuing benefits of the latest regulation that is to do away with old Rupees 500 and 1000 currency notes.AE DIL HAI MUSHKIL AND SHIVAAY
However, we are not economists neither politicians, rather cinema addicts, and so keen to analyze how the above watershed decision (which came into effect midnight) will impact the box-office collections of running as well as upcoming releases.
One feels that given that banks will remain closed for one or two days, and ATM’s still don’t have the new currencies, and the inflation (and the high cinema tickets) forces most people to carry cash in big denomination, which are no longer in circulation!
Just as an example, visualize a situation where just a couple of friends want to check out, either SHIVAAY or AE DIL HAI MUSHKIL, at a multiplex at say a B center (not even a metro). Now, they will have to dole out close to 500-600 bucks, which will mean carrying a sizeable number of 100 or 50 Rs. notes, which will first have to be procured!
Instead of going for the onerous task, many will prefer to hold back. Yes, the selective gentry that use plastic currency will have no problem, but then it forms only a small chunk of cinema frequenting audience, and hence the box-office is going feel the pinch during the next few days for sure.
Having said that, we will try to validate what we have postulated above and keep a hawk’s eye on proceedings, and inform our patrons about the same.