The Malayalam film industry is bracing itself for pay cuts and a temporary freeze on big-budget movies following the financial crisis induced by the COVID-19 outbreak.
A salary cut for actors and technicians, low-budget movies, and push for alternative revenue streams figure among the bailout package being formulated by the Kerala Film Producers Association (KFPA).
At least a 50% cut
“We are facing the worst crisis ever in recent times owing to the pandemic. The budget of movies will have to be cut by at least 50% in view of the unprecedented situation,” said KFPA president M. Renjith after a meeting here on Friday.
“There is no clarity on the overseas and satellite rights considering the uncertainties prevailing across the world. We hope that actors and technicians would realise the gravity of the situation and cooperate with us,” he said.
The KFPA will hold talks with the Association of Malayalam Movie Artistes (AMMA), Film Employees Federation of Kerala (FEFKA), theatre owners, distributors, and the Kerala Film Chamber of Commerce on how to chalk out a roadmap ahead.
Actor Jagadeesh, treasurer of AMMA, had told The Hindu on Thursday that actors had always cooperated with producers in difficult times.
“We also know that the revenues may take a hit in view of the unprecedented situation. Actors may have to bear a share of the possible losses incurred by the producers,” he said.
B. Unnikrishnan, general secretary, Film Employees Federation of Kerala, had said that any response on the issue could be made only after studying the concrete suggestions being forwarded by the producers’ association.
