New Delhi: The Indian film industry witnessed a mixed bag of results in 2024, according to the Ormax Box Office Report. While the overall box office gross reached a substantial ₹11,833 crore, marking the second-highest year on record, a significant decline in Hindi cinema’s contribution emerged as a key trend.
Hindi film collections dipped by ₹701 crore to ₹4,679 crore, with a staggering 31% of its revenue stemming from dubbed versions of South Indian films. This shift in audience preference led to a 4% decrease in Hindi cinema’s market share.
Conversely, regional cinema experienced a surge in popularity. Malayalam cinema witnessed remarkable growth, doubling its share to 10% and surpassing the ₹1,000 crore milestone for the first time. Gujarati films also recorded a significant 66% increase in box office collections compared to the previous year. Tamil and Telugu cinema continued to maintain strong performances, contributing significantly to the overall box office revenue.
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The year witnessed several blockbuster hits. “Pushpa 2: The Rule” emerged as the highest-grossing film, amassing an impressive ₹1,403 crore, including a record-breaking ₹889 crore from its dubbed Hindi version. “Kalki 2898 AD” and “Stree 2” also crossed the ₹500 crore mark, while “Devara – Part 1,” “Bhool Bhulaiyaa 3,” and “The Greatest Of All Time” each surpassed ₹300 crore.
Despite these successes, 2024 saw a decline in audience footfalls, dropping to 88.3 crore, a 6% decrease compared to 2023. While Average Ticket Price (ATP) saw a marginal increase of 3%, indicating some stability in ticket pricing, it remains below pre-pandemic levels. Hollywood films experienced the steepest decline, with box office collections dropping by 17% compared to the previous year.
The 2024 box office performance underscores a significant shift in the Indian film landscape. The rise of regional cinema, particularly Malayalam and Gujarati, and the continued dominance of South Indian films, both in original and dubbed formats, are reshaping audience preferences. While Hindi cinema faces challenges, the industry continues to evolve and adapt to these changing dynamics.
