The Hindi film industry aka Bollywood half-yearly performance report is in, and the results are less than encouraging. While experts like Taran Adarsh, Akshaye Rathi, and Ramesh Bala remain optimistic, the first half of 2024 has been marked by underwhelming box office returns, with the promise of big-ticket movies in the second half offering a glimmer of hope for a turnaround.
No Hope On Bollywood?
Trade analyst Taran Adarsh observed that the first half of 2024 fell short of delivering a much-needed Rs 500-crore blockbuster. While films like ‘Article 370’, ‘Shaitaan’, ‘Laapataa Ladies’, ‘Madgaon Express’, and ‘Munjya’ performed well, they lacked the star power to achieve massive box office numbers. Despite a mix of genres, the results were not as stellar as anticipated. Notably, the absence of high-profile releases from major stars like Shah Rukh Khan, Salman Khan, Aamir Khan, Ranbir Kapoor, and Ranveer Singh contributed to the industry’s lackluster performance.
Fear Surrounding Theatrical Releases
Trade exhibitor Akshaye Rathi highlighted the industry’s hesitation to release films in theatres early in the year. The underperformance of initial releases created a ripple effect, making producers wary of venturing into theatres. However, Rathi remains optimistic. Upcoming big-ticket movies, such as ‘Kalki 2898 AD’, could restore confidence among producers and audiences. These films are expected to rejuvenate box office momentum and encourage more theatrical releases, ultimately boosting the industry’s overall performance.
Sleeper Hits: A Silver Lining
Despite the absence of massive hits, Bollywood witnessed sleeper hits in 2024. Films like ‘Laapataa Ladies’ and ‘Munjya’, though not anticipated to perform exceptionally well, sustained reasonable box office numbers through positive word-of-mouth. These sleeper hits play a crucial role in keeping the industry afloat during challenging times. Additionally, films like ‘Chandu Champion’ demonstrated that there is still an audience for quality content.
Significance of ‘Kalki 2898 AD’
Nag Ashwin’s ambitious project, ‘Kalki 2898 AD’, holds immense importance for Bollywood. Released at the cusp of the first and second halves of the year, this film features Prabhas, Amitabh Bachchan, and Deepika Padukone. According to Rathi, ‘Kalki’ has the potential to motivate audiences to return to theatres. Its success could rebuild the habit of movie-going and create a positive ripple effect for subsequent releases.
South Cinema’s Struggles in 2024
Interestingly, the struggle extends beyond Bollywood. The South Indian film industry faces a tough phase. While the Tamil film industry saw moderate success with films like ‘Captain Miller’ and ‘Maharaja’, the Kannada and Telugu industries did not fare well. Trade analyst Ramesh Bala emphasized that exceptional word-of-mouth is crucial for success in these industries. Additionally, the reluctance of OTT and satellite buyers to purchase films upfront has added to the challenges, making it a tough year for the entire Indian film industry.
Steady Rise of Malayalam Films
Amid the struggles faced by other regional industries, the Malayalam film industry continues to thrive. Focusing on good content, strong storytelling, and acting, Malayalam films have seen theatrical success. Movies like ‘Manjummel Boys’, ‘Premalu’, and ‘Goat Life’ have earned appreciation from audiences across India. The industry’s commitment to sensible filmmaking without chasing grandeur has allowed it to shine even amidst competition.
Pressure on the Second Half of 2024
The initial months of 2024 didn’t meet expectations, creating pressure for the second half to rejuvenate the industry. Trade analyst Taran Adarsh emphasized the need to explore mass circuits beyond major cities to maximize box office potential. Anticipated releases like ‘Kalki’, ‘Stree 2’, ‘Vedaa’, ‘Baby John’, and ‘Singham’ are expected to balance out the lackluster performance of the first half. Industry experts, including Akshaye Rathi, remain hopeful that these films, along with offerings from stars like Ajay Devgn and Akshay Kumar, can compensate for the absence of major releases from Shah Rukh Khan, Salman Khan, and others.
Bollywood vs. South Debate
As the latter part of the year unfolds, the perennial debate over Bollywood versus the South Indian film industry may resurface. Upcoming South Indian releases like ‘Devara’, ‘Pushpa 2’, and Rajinikanth’s ‘Vettaiyan’ present a formidable lineup. Trade analyst Ramesh Bala suggests that if South Indian films once again outperform Bollywood, the controversial debate from 2022 could reignite. The absence of major Bollywood stars’ releases this year further tilts the scales in favor of the South.