Business done by Bombay Velvet in opening weekend, can't be simply explained in words. Film has managed just over 16 crore nett in opening weekend with distributor share of just 7.5-8 crore range. Film industry is in shock, trade is in shock, makers are in shock and even the exhibitors are in state of shock.
Bombay Velvet being made on budget of over 100 crore is now estimated to entitle combine loses of around 70-80 crore for industry. This is never heard of earlier. Many big flops have been registered in history of Bollywood starring many A list stars. But no one could come close to Bombay Velvet if magnitude of Flop is considered.
No doubt as dust will settle there will be question raised about Bombay Velvet as loss of 70-80 crore is no joke. It will be interesting to see who will take the blames. Definitely feel for Fox at this moment of time. It will take them few biggies to recover the that amount of money. Hope it happens soon than later.
Bombay Velvet should do now lifetime business in the region of 30 crore nett. That means a recovery of around 14-15 crore from distributor share. Another 4-5 crore should be recovered from Overseas. With box office business hitting rock bottom for the film, don't expect much from Satelite rights now. Overall at most film will recover around 30-35 crore from India Theatrical, Overseas, Satellite Rights, Music and others. That means film will entitle a monumental loss in the region of 70+ crores.