Advance booking for Race 3 has not been able to pick up pace and remains lower than Tiger ZInda Hai
Bollywood banks on festivals as revenues go up during this time by around Rs 10-15 crore. One of the most lucrative periods for films is the Eid holiday, which has proven to be a money-spinner over the years.
While filmmakers are in the race to benefit out of these festive breaks to get maximum screens, maximum footfalls and undivided attention of the audience, Eid has become synonymous with Salman Khan films. Keeping that in mind, Tips Films has slotted the third installment of Race for Eid this year.
But can Salman Khan be confident about his new venture, especially after the dull performance of his last release, Tubelight, last year?
Tubelight’s box office performance came as an unpleasant surprise not only to those involved with the making and promotion of the film, but also the exhibitors who had to pay a heavy price for it.
Exhibitors had a tough time and single-screens which ran Tubelight ran into huge losses. Film trade analyst Komal Nahta had said, “In Ferozabad (UP), two cinemas, Sant & Bharat, lost entire price of Rs 9.11 lakh. Maya cinema of Hathras (UP) claims he lost all that he earned in Bahubali 2 & Dangal, in Tubelight alone, which he booked for Rs 4.11 lakh.”
Tubelight’s budget ran up to Rs 100 crore and the film got back its production cost when NH Studioz bought the distribution rights of the film at Rs 132 crore. Also, Sony Music paid Rs 3 crore for music rights. But the burden of the film’s slow performance shifted on the shoulders of distributors and exhibitors mainly due to the high distribution costs.
It is Salman Khan’s star power that makes his films flop-proof but it seems Khan was unable to create the same magic for Tubelight. However, he got back with a bang with his next offering Tiger Zinda Hai, which earned more than Rs 300 crore with a budget of Rs 210 crore.
And it looks like with Khan has been able to restore confidence amid audiences as both trade analysts and moviegoers are betting big on Race 3.
According to film trade analyst Joginder Tuteja, Race 3 is likely to rake in Rs 35 crore with a release on more than 4,000 screens. “That would be in line with some of the best opening films of Salman Khan and anything more than that would be an added bonus,” he said.
However, the advance booking for the film has not been able to pick up pace as its 2D version saw a late start on Wednesday and 3D screenings did not find many takers, which began on Sunday.
According to a Box Office India report, pre-sales for Race 3 at multiplexes till date is far below Tiger Zinda Hai. The single screen advance is around 5- 10 percent less than Tiger Zinda Hai.
East Punjab, which has little or no effect of pre-Eid preparations as it has a very limited Muslim audience, shows an advance of 25-30 lakh for the first day, while Tiger Zinda Hai saw 75 lakh.The report suggests that Race 3 will show its best day in terms of advance booking on Thursday as the showcasing at multiplexes is almost complete. However, due to lost ground, it would not be possible for Race 3 to get to the level of Tiger Zinda Hai in terms of pre-sales, which was Rs 25 crore, the highest ever for a Hindi film.