Prime Focus, PVR INOX, Balaji Telefilms Share Price: Trump's 100% Movie Tariffs Hits Media Stocks

Shares of Prime Focus, PVR INOX and Balaji Telefilms tumbled on September 30 after US President Donald Trump announced a 100 per cent tariff on all films produced outside America. The announcement is expected to deal a major blow to Indian filmmakers and distributors that earn a sizeable chunk of revenue from the US market.

In a post on Truth Social, Trump claimed that other countries had “stolen” America’s movie business “like candy from a baby.” He singled out California, blaming its governor for the industry’s decline, and said he would impose a 100 per cent tariff on all movies made outside the US to address what he called a “long-standing” problem.

Prime Focus, Balaji Telefilms, PVR INOX Share Price Tumble

Prime Focus, a visual effects (VFX) and animation company where Bollywood actor Ranbir Kapoor has his Rs 15 crore invested, plunged 5 per cent to hit the day’s lower circuit at Rs 175.94 per share on the NSE. The Ekta Kapoor-owned Balaji Telefilms tumbled more than 5.60 per cent to touch an intraday low of Rs 121.55 apiece on the NSE. Similarly, the multiplex cinema chain operator PVR INOX declined up to 3 per cent to hit the day’s low at Rs 1,067.70 per share on the NSE.

Revenue Impact On Indian Filmmakers, Distributors

The US has long been the most lucrative foreign market for Bollywood and regional cinema, driven by the large Indian diaspora and growing crossover appeal with mainstream audiences.

With tariffs set to double the cost of importing Indian films into US theatres, box-office earnings are likely to fall sharply. Ticket prices could rise significantly, making Indian films less competitive against Hollywood releases.

This could also potentially encourage viewers to turn to pirated copies instead.

While big-budget blockbusters may still attract audiences, smaller and mid-tier films could skip theatrical releases and go straight to OTT platforms.

A Deloitte and Motion Pictures Association report dated May 2025, estimated that India generated roughly Rs 2,000 crore in overseas box office from the US in FY24.

Trump’s decision also raises broader concerns about global film trade. While the tariffs are intended to protect Hollywood’s domestic market, they could strain cultural exports from countries like India, which has steadily grown its overseas presence. For now, Indian media companies are preparing for near-term challenges, and their stock prices are already reflecting the uncertainty.