2023 report: High collections, low footfalls

The year 2023 has proven to be exceptionally lucrative for the Indian film industry, witnessing a slew of successful releases such as "Jawan," "Pathaan," "Animal," "Gadar 2," "Jailer," "Salaar," and "Leo," which collectively set the box office ablaze with staggering collections. According to a report from Ormax Media, the Indian film industry amassed a staggering revenue of over 12,226 crores in the last calendar year, marking a 15% increase compared to 2022 and establishing 2023 as the most successful year for the industry.

Hindi cinema played a pivotal role in this record-breaking success, contributing a whopping 5,380 crores—the first time the Hindi film industry surpassed the 5,000 crores mark in a single year. Despite initial concerns about the industry's post-pandemic struggles, Bollywood made a sensational comeback, with superstars like Shah Rukh Khan and Ranbir Kapoor leading the way. The resurgence is notable not only for big-budget blockbusters but also for medium-budget films that have once again resonated with audiences.

Tollywood, or the Telugu film industry, secured the second spot with a contribution of nearly 2,300 crores. Despite the absence of releases from several top stars, Salaar emerged as the biggest hit from Tollywood in 2023, followed by "WaltairVeerayya." The upcoming year looks promising for Telugu cinema, with a slew of releases from almost every top star.

Kollywood, representing the Tamil film industry, contributed 1,960 crores, with films like "Jailer" and "Leo" accounting for over 1,300 crores. Hollywood claimed the fourth spot with 1,139 crores, followed by Mollywood (572 crores) and Sandalwood (312 crores). While Bollywood experienced a substantial 53% year-on-year growth, the Kannada industry's contribution declined by 61%.

Despite the upward trend in collections, the number of footfalls remains below pre-pandemic levels, highlighting the need for further improvement in this aspect. The industry should prioritize delivering quality content to sustain and build upon the positive momentum in the coming years.