It is known that recently some movie personalities are saying that people are not coming to theaters because they are used to OTTs. Due to the lockdown effect of Corona, movie lovers have become accustomed to OTTs, but due to the lack of movies with good content, they have reduced their attendance at theatres. Similarly, the ticket prices have also been hiked and the audience is reluctant to spend that much. Many producers complain that cinema theaters are closed due to lack of audience.
In this background, one of the top producers of Tollywood, Suresh Babu, seems to have sold a theater. There are reports that he has sold Jyoti Theater in Visakhapatnam. There is a rumor that businessmen from Vijayanagar have bought this theatre. It seems that the businessmen are planning to demolish the theater and build a ten-storey gated community apartment complex in its place. It is being discussed locally that a complex is going to be designed to have office space and shops here.
The sale of Jyoti Theatre, one of the top theaters in Visakhapatnam, has become a topic of discussion in Tollywood circles as well. Even if Suresh Babu, who has been a distributor and producer for many years, has sold a theater, the film industry is of the opinion that the situation can be understood. It is known that in the past he had expressed his displeasure with the government’s decision regarding movie ticket prices in AP. He also said that selling theaters at those rates is better than running them.