fall out? 2024 was a lackluster year for the Hindi film industry compared to 2023, with few new big films starting production.
According to box office revenue research data company Saknilk, the total box office revenue from 2024 to date is 1,075.4 million rupees. This is a decrease of 18.2% compared to the total box office revenue of Rs 13,161 crore in 2023. Unsurprisingly, the drop is even greater when you factor in the total box office receipts of Hindi films. The total box office revenue of Hindi films decreased by 25% to Rs 4,534.20 crore in 2024 compared to 2023.
Ram Mirchandani, founder of production company Rampage Motion Pictures, said: “Common sense must prevail. We must now focus on cost. Stars, directors and other artists must come together to ensure compensation. We have to be realistic about it and make a concerted effort to make the film economically viable.”
One of the key lessons of 2024 is film budgeting. A common feeling among many producers is that films that don’t require big budgets end up overspending due to the whims of stars and other stakeholders.
Suniel Wadhwa, co-founder and veteran film distributor of Karmic Films, said, “The key lesson for 2024 is film budgeting. Producers have to control the film budget. If you’re going to engage in storytelling, then the movie talent has to get paid from the movie’s profits.” In 2024, due to excessive budgets and poorly written scripts. Big-budget films like ‘Bade Miyan Chhote Miyan’ and ‘Maidaan’ failed at the box office. Another important lesson 2024 taught the industry is cooperation in funding and creativity. One veteran producer, who requested anonymity, said: “Right now, production companies can’t raise money, produce, or make movies on their own.The industry is very picky about what works and what doesn’t.” There is uncertainty,” he said. Box office revenue. “I think the approach has to be one that reduces risk,” he added. “Small and medium-sized production companies need to collaborate with larger production companies in terms of creativity and financing.”
A positive development overall for 2024 is the diminishing influence of stars in drawing audiences to theaters, and the unexpected success of films that don’t star the industry’s biggest stars or marquee stars. is. In fact, 2024 was a year marked by the success of mid-budget films like ‘Munjya’, ‘Shaitaan’ and ‘Stree 2’. These films are classic examples of well-told stories that found great acceptance among audiences across state lines.
Film industry analyst Girish Wankhede said, “The extraordinary success of the Hindi dubbed version of ‘Pushpa 2: The Rules’ alone (grossing over Rs 500 crore) is significant for theaters and has made it to Tier 2. “It shows the large number of spectators who remain.” and tier 3 cities cannot be ignored or overlooked. He added that producers need to focus on scripts that have more mass appeal because mass audiences are more regular and unforgiving than audiences with more sophisticated tastes.
Finally, avoiding clustering two or more movies in the same weekend is a big lesson for the industry in 2024. Suniel Wadhwa of Karmic Films said, “Conflict between two or more films must be avoided as each film’s potential is not being fully realized at the box office.”
