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Audio-visual industry suffers as production slows

By BusinessWorld — 13.07.2020

THE Philippine audio-visual industry is facing liquidity problems as a result of lower production activity and suspended cinema operations amid the lockdown.Film Development Council of the Philippines Chairperson Mary Liza Diño-Seguerra said in a webinar with the Trade department on Wednesday that 80% of Philippine motion picture revenues come from cinemas.

“We can just imagine the current difficulty in the liquidity of our production companies. As it is, they are already adjusting their schedules by cancelling and delaying the release of their films,” she said.

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