Bollywood is rewarding its best from the comfort of its home for the first time ever
- The big bang Bollywood show might be bracing for a slowdown which might not have affected it yet.
- Indian comedians are mocking about how Indian International Film Academy Awards (IIFA) being held in Mumbai, is a sign of an economic slowdown.
- However, experts believe it can be a good opportunity for the
AdvertisementComedians are joking about how Indian International Film Academy awards (IIFA) being held in Mumbai, is a sign of an economic slowdown. However, the organizers of the show which is known for its pomp and splendour in international locales, call it the homecoming of the show on its 20th year.
Bollywood stars ka offsite aka IIFA is happening in Mumbai and if that's not a sign of the Indian economy slowing d… https://t.co/X6WgjDArRV— Sapan Verma (@sapanv) 1568654467000
Wizcraft International, the organizer said that it is getting positive response from the industry as well as the government. And that, the proof lies in ticket sales.
The show which will be held on September 18, has already sold out a majority of its seats. As of September 17, only 55 seats of the total 2,500 are available on bookmyshow.com. This is even as the ticket prices have gone up in the last few years.
Depending on the proximity to the stage, the tickets are retailed between ₹10,000 to ₹90,000.
In spite of the sales, the big bang Bollywood show might be bracing for a slowdown which might not have affected it yet. After all, the entire media and entertainment industry revised its growth estimates to 12% from its earlier 13% for the financial year, said an Economic Times report. In spite of landmark events like Lok Sabha Election and the ICC world cup, the subdued growth is due to uncertainty in the market and lower TV ad spends.
"IIFA has always Bollywood in gaining international traction and it is as international as it gets. It isn't a sign of slowdown. As far as I know, 5-7 advertisers have already backed the awards and the ticket sale can give a better picture,” Vinit Karnik, Business Head - Entertainment, Sports & Live Events at GroupM told Business Insider India.
Until now, the awards, popularly dubbed "Bollywood Oscars" by international press, was held at 16 countries. This year by holding it in Mumbai, the heart of Bollywood would save the organizers a few millions on travel and accommodation costs of stars and their entourage. It is not an unwise decision to make in the current time.
The IIFA awards will be held at Sardar Vallabhbhai Patel Indoor Stadium at 8pm.
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