Sippy was present at the National Centre for the Performing Arts to celebrate the completion of 40 years of "Sholay".
"At that time, theatres were the only place where you could've watched films. 'Sholay' which ran for a long time could've had a longer run at the box office as there was a great demand for those kind of films. We would often joke that 'Sholay' would come down with 'Shaan' (pride). So we had to remove our film 'Sholay' for our own film 'Shaan', otherwise it could've worked more," he said.
About the transformation in film-viewing, Sippy said: "Today, you can watch a film on your mobile, TV or internet, Even if you watch a film 50 times, you don't need to go back to the theatres.
"But during that time, there was no piracy and it was a wonderful time for cinema. I was lucky that at that time, there weren't any other technology or gadgets where you could've watch it anywhere and that was one of the reasons for the long run of my films."
Despite films not enjoying long runs at the box office, Sippy feels the love for cinema is very much intact.
"People still love films, film is entertainment and watching their favourite stars is enjoyable for people and even today there are brilliant actors, actresses and makers.
"You can see this this year itself, be it, 'Tanu Weds Manu Returns', 'Piku' or 'Bajrangi Bhaijaan', so many other films."