“Unfortunately, however, Axis has more recently been impacted by a decline in customer projects, as well as increases in labour costs which have resulted in severe cash flow problems. The directors worked tirelessly to explore alternative solutions, but ultimately had to take the difficult decision to seek the appointment of administrators.”
- Increased labour costs is a good sign for Phantom but the decline in customer projects is not.
“There are rumours in the market that many films that were to go on floors have folded up.”
‘Ranbir Kapoor has only one film as does Salman Khan.’
‘Hrithik Roshan only has War 2 in hand.’
‘Ranveer Singh has no film on floors today.’
The sector does not seem to be in the pink of health, Tippett Studio got acquired, DNEG lays off people, Axis Scotland shuts down, rumours of Bollywood not doing great.
The demand for content surged during COVID, then came the strikes, studios suffer and wonder how it’s going to unfold in the coming months.
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