Kumar Mangat: We can’t survive without theatres!

After a superhit series of webinars covering various important concerns related to the Media & Entertainment industry post Covid-19, Naik Naik & Company has successfully concluded the finale episode of their first web series, “Post COVID 19- The Rise of a New Dawn”.

Our resilience and ability to adapt to new situations help us define how we change the course of things and that’s exactly what the final episode of the webinar series addressed, featuring an esteemed panel comprising of producer Kumar Mangat, Madhu Bhojwani (Partner – Emmay Entertainment and Motion Pictures Pvt Ltd), Tanuj Garg (Partner – Ellipsis Entertainment Media LLP), Shashi Ranjan (Film & TV Producer & Director; Convenor – ITA), Vivek Krishnani (Managing Director – SPE Films India Private Limited), Harish Kale (Director – Fidelis Management Consultants), Sanjay Kohli (Co-founder & Co-promoter – EDIT II), Bimal Parekh (CA), Sunir Khetarpal (producer) and Sumant Salian (Business Head – Alliance Insurance Brokers Pvt Ltd) – decoding the show’s theme ‘Insurance Version 2.0 – The Mantra of Mission Rebuild’.

Veteran producer Kumar Mangat, who has few projects lined up for release and pre-production spoke extensively about the insurance policies and possibilities it can cover post Covid-19. “As producers, we have to consider budgets for film productions once the entertainment industry is back on the track. We have to be prepared for the increase in cost with regards to the safety measures of the cast and crew on the set. Right now, we don’t have an answer to how things will be once we start shooting, ” he said.

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“We have to cover maximum possibilities in an insurance policy going forward. Even if we make films somehow, the problem we have to face after that is of the exhibition. Who will take the theatre guarantee? Multiplex owners have no answer to that as of now. Without theatres, we cannot survive. Big films won’t be able to cover their cost just with OTT in the long run,” adds Mangat.

Madhu Bhojwani sharing her views added, “If there is a cancellation of a shoot – say for instance 14 days and if a production house is not covered then it’s quite a serious issue. The production house is left just holding a baby as the delayed shoot continues to mount added pressure and thereby becoming a liability. It’s like a ticking time bomb. We need to ensure talent, safety protocols as well as the crew on the film set. Film production is a very price-sensitive business and we have to live with it.”

“Insurance premiums for film policies are more economical in India as compared to the West with a relatively high percentage. In the entertainment sector, there are hardly two insurance companies providing production insurance. I think the government should get more new nationalized players. The fundamental challenge to a producer whenever he or she restarts is to secure themselves. I have to take the best possible insurance cover covering maximum precautionary measures for the entire cast and crew,” shared Tanuj Garg.

Naik Naik and Company in association with an entertainment portal had conducted Live sessions on Facebook. The three-day initiative successfully brought together celebrities and influencers from across the Media and Entertainment industry to share their thoughts on how to plan the future post Covid-19.

Also Read: After Inox, PVR and Carnival Cinemas express displeasure over producers releasing their films on OTT platforms

Pooja Sharma

Cinephile. Bibliophile. Pluviophile. Selenophile. Autophile. Aesthete. Blood group- Tea positive. Poetry lover. Sucker of rom-coms.

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