Home ENTERTAINMENT ‘After a record 2023, box-office kitty may decline this year’

‘After a record 2023, box-office kitty may decline this year’

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Gross movie box -office collections for 2024 in India are projected to drop 15% to ₹10,360 crore on the basis of data from the first three months of the year, following a record high in 2023, research firm Ormax Media said in its latest box-office report. The Indian box-office collection reached an all-time high of ₹12,226 crore in 2023, registering a 15% growth over 2022. The previous box office record was ₹10,948 crore in 2019.
Hindi films had a 36% share of the box-office collection, followed by Telugu and Malayalam films with 23% and 16% shares, respectively. Both Hollywood and Tamil films had a 9% share of the box-office collection. The cumulative box-office collection registered 7% year-on-year growth to touch ₹2,590 crore in Q1 2024, despite a lacklustre performance in February. Seven films earned more than ₹100 crore at the box-office during the quarter.

“March has proven to be a healthy month for the domestic box-office with collections totalling ₹971 crore. The diverse lineup of films across languages includes Shaitaan, leading the pack with ₹173 crore,” said Sanket Kulkarni, head of business development (theatrical) at Ormax Media.

He added Malayalam cinema continues its remarkable streak with Aadujeevitham-The Goat Life joining the ranks of successful films, bringing the total collections for Malayalam cinema to ₹405 crore, constituting 71% of the entire Malayalam box office in 2023.

“The net box-office collections have dropped by 20% to ₹900 crore in Q1 2024 compared to the same quarter last year. The second quarter is also looking unimpressive, with no major releases planned for May. With setbacks in two back-to-back quarters, we have large recoveries to make in the last two quarters of 2024,” says film business expert Girish Johar. In Q1, Fighter (Hindi) and Hanu-Man (Telugu) had the highest box office collections of ₹243 crore and ₹241 crore, respectively. Both Manjummel Boys (Malayalam) and Shaitaan (Hindi) had collections of ₹173 crore.Guntur Kaaram (Tamil), Godzilla x Kong: The New Empire (Hollywood), and Aadujeevitham-The Goat Life (Malayalam) collected ₹142 crore, ₹129 crore, and ₹102 crore, respectively. During the quarter, March saw the highest monthly box-office collections of ₹971 crore on the back of strong performances by Shaitaan, Godzilla x Kong: The New Empire, and Aadujeevitham. In January, the box-office collections stood at ₹934 crore, with Fighter, Hanu-Man, and Guntur Kaaram dominating the list. February saw a modest box-office collection of ₹685 crore with just two films, Manjummel Boys and Teri Baaton Mein Aisa Uljha Jiya, attaining receipts of over ₹100 crore.