Malayalam films faces huge loss in 2023

The Malayalam film industry has faced significant challenges in 2023, with just four films managing to achieve success in theaters, while 12 others broke even due to OTT releases. With approximately 220 Malayalam films released in the year, the Producers Association estimates a collective loss of around Rs 300 crores.

The four films that succeeded in theaters are '2018', 'Kannur Squad', 'RDX', and 'Romancham'. B Rakesh, Secretary of the Producers Association, highlighted several reasons for the industry's poor performance, including high production costs, exorbitant remunerations, and unfavorable government policies such as double taxation.

Rakesh mentioned that 90% of those entering the film industry this time are newcomers, and production costs range from Rs 10 lakh to Rs 10 crore. The high costs, combined with increased shooting rates charged by the government, have contributed to the industry's financial challenges.

Despite the challenging year, '2018,' a film depicting the devastating floods in Kerala in 2018, emerged as the biggest grosser. Superstar Mammootty had a successful run with 'Kannur Squad' and 'Kaathal,' while Mohanlal's performance did not meet expectations.

The year 2023 also marked the passing of legendary actors Innocent, Mamu Koya, Poojapura Ravi, and Subi Suresh, along with acclaimed director Siddique. The Malayalam film industry continues to grapple with economic challenges, and the success of individual films remains crucial for its overall health.