Bollywood's Half-Yearly Report 2024 is Out

Images keep changing, not just in theatres but also in the industry. If 2022 was a year of complete stagnation for the Hindi film industry, triggering the infamous South vs Bollywood debate, 2023 revived it with films like ‘Pathaan’, ‘Jawan’, ‘Gadar 2’ and ‘Animal’. However, the momentum of 2023 did not carry over into 2024.

Six months have passed and Bollywood continues to run with sleeper hits. It is too early to predict whether this trend will continue in the second half of the year or whether the sector will become profitable. It's also difficult to predict because films that were hoped to do well in the first half of the year didn't work out.

Trade analyst Taran Adarsh ​​said the first half of the year was not up to par for the Hindi film industry, but it was much better than several previous years.

“I wouldn’t say it’s below average. Of course, we didn't have a Rs 500 crore film. But this year has been better than previous years. We have had 'Article 370', 'Shaitaan', 'Laapataa Ladies', 'Madgaon Express' and 'Munjya', which are close to Rs 100 crore. There’s a mix of different genres that really worked. But photo always on the left (the finale is yet to come),” Taran Adarsh ​​told IndiaToday.in.

Professional exhibitor Akshaye Rathi said that while the first half was dull, expensive films could make 2024 a very different story.

“To succeed, you have to go to market. Only when a ship sets sail can it reach port. Here we have literally released a few Hindi films. And since a few films in the beginning didn't have much success, everyone started getting a little afraid to venture into cinema halls,” Akshaye Rathi told IndiaToday.In.

“It was a bit unfortunate. But that being said, now that big films are coming, I really believe that films like 'Kalki', Independence Day releases and a few others will bring back the momentum at the box office, which will encourage more producers to release their films in theaters with more confidence. This is what we desperately need now,” Rathi said.

FIRST HALF ON SLEEPING HITS

It's not that Bollywood hasn't produced enough films this year. It's the case. But something was missing. Admit it or not, star power is a major factor when it comes to box office numbers. Unlike 2023, 2024 did not have an exit from SRK, Salman, Aamir, Ranbir or Ranveer. But unexpected hits such as 'Laapataa Ladies' (Rs 21.05 crore) and 'Munjya' (Rs 115.60 crore) serve as filler until the film industry finds solid ground on which to press.

“As long as the money is coming, it is more important. Call it sleeper, runner or any other name, but the fact is moolah has to step in,” said Taran Adarsh.

Akshaye Rathi counts down the many 2024 films that, while not super hits, did relatively well.

“There was a film like 'Laapataa Ladies', 'Munjya', which no one saw coming with such success. 'Chandu Champion' is not a surprise hit, but it is a film that is starting to grow and is holding up relatively well thanks to word of mouth as it enters its third week. These are films that have done quite well on that front, and I hope there will be many more,” says Rathi.

“I wouldn't be surprised if 'Bad Newz' came out and did well. “Kill” should be different and unique. 'Stree 2' would release on Independence Day weekend and may well open and do well. Hopefully we will have more surprises than shocks this year,” says an optimistic Rathi.

Will 'KALKI 2898 AD' make up for what was lost?

The film Kalki 2898 AD, Nag Ashwin's masterpiece, was released starring Prabhas, Amitabh Bachchan, Deepika Padukone and others. It came out at the end of one half and the beginning of another. It is important for the Hindi film industry, which is in desperate need of a super hit.

In fact, “Kalki” has the potential to be a motivator and pave the way for balanced business growth.

Highlighting its importance, Akshaye Rathi remarked, “All it takes is one big film to come along, bring back the momentum, rebuild the habit or bring people back to theaters, and then they look for every big ticket film that is worth it. penalty. and arrive. This year, unfortunately, we didn't have a gigantic blockbuster. There was 'Fighter', 'Shaitaan' and 'Munjya', but they weren't ballistic hits that came in like a hammer and shook the box office. “Kalki” looks exactly like that. So fingers crossed and hope the momentum continues from here.

THE FIRST SIX MONTHS WERE NOT IDEAL FOR SOUTHERN CINEMA

In 2022, the debate was about whether the Hindi or regional film industry was better. Unfortunately, this year’s trade hasn’t even left room for that. At least, for now.

While the Tamil film industry has enjoyed moderate success with films like 'Captain Miller' and 'Maharaja', things don't look too bright for the Kannada film industry.

“The Kannada industry has not seen much success this year. The Telugu industry is also going through a tough phase. It takes exceptional word of mouth. The film industry is in trouble. OTT and satellite buyers do not purchase in advance, which is also a problem for them. It’s been a tough year for the industry as a whole in India,” business analyst Ramesh Bala told IndiaToday.In.

The rise of Malayalam films

Amidst the battle of box office, hits and numbers, the Malayalam film industry, as always, is going with the flow. She doesn't rush to ring the tills and instead rejoices in the slower pace. The industry's priority has always been quality content and that's what keeps it going.

“The Malayalam film industry never sought greatness. Even when ‘Baahubali’ or ‘KGF’ were made, they never sought anything because they knew their strength lay in good storytelling, good acting and creating good content. During the pandemic, a lot of people watched Malayalam films on OTT. They finally got to taste success in theatres with ‘Manjummel Boys’, ‘Premalu’, ‘Goat Life’ and others,” said Ramesh Bala.

“The Malayalam film industry is like localizing to go global. They haven't made anything like a pan-Indian blockbuster or masala entertainment like 'KGF' or 'Pushpa'. They stayed true to their roots and made sensible films in different genres. Fortunately, this year they haven't had much competition from other industries. So finally, their quality has shone through and people from other states are appreciating it,” Bala added.

BUSY SECOND HALF

Even though the first half of the year did not go as we had hoped, the maximum pressure is in the second half. Will the sector bounce back?

“There are a lot of interesting films in the pipeline. It is very important that we focus beyond the metros. The core business lies in mass circuits like UP, Bihar, Rajasthan, Madhya Pradesh, Chhattisgarh, West Bengal, Assam, Bihar, Punjab and Haryana. We need to tap into these markets. If a film is made in a handful of metros, it will not work,” said Taran Adarsh.

Akshaye Rathi hopes that big releases in the second half of the year will balance out the gloom of the first half.

“We are still halfway through 2024 and the biggest releases in Hindi or Indian cinema are all lined up for the second half. We start with ‘Kalki’, it’s a Telugu film and then later on, as time goes on, there is ‘Stree 2’, ‘Vedaa’, ‘Baby John’, ‘Singham’ – there are so many more things coming. We are missing out on big star films because there is no release of Shah Rukh Khan, Salman Khan, Aamir Khan, Hrithik Roshan, Ranbir Kapoor or Ranveer Singh. But having said that, we definitely have an Ajay Devgn, Akshay Kumar who makes up for it,” Rathi said.

IS THE BOLLYWOOD VS SOUTH DEBATE RETURNING?

If we look at the upcoming film line-up, South seems to be stronger than Hindi cinema. We have 'Devara', 'Pushpa' with stars whose presence and fandom carry weight. If by chance South Indian films dominate Bollywood again this year, will history repeat itself by reigniting the controversial debate of 2022 that we thought was behind us?

“There is a strong chance that the South will dominate the overall Indian box office. ‘Kalki’ is technically a South production. ‘Devara’, ‘Pushpa 2’, Rajinikanth’s ‘Vettaiyan’ – the South has other films coming up,” Ramesh Bala said.

“As far as Bollywood is concerned, Shah Rukh Khan, Salman Khan, Aamir Khan, Hrithik Roshan have not released anything this year. There is only Akshay Kumar, Ajay Devgn, but so far they have not made 800 or 1000 crore rupees. Their maximum will be below a certain threshold. It is very likely that before December 31, the South will have a big pan-India blockbuster. We may not have ‘Jawan’, ‘Pathaan’ or ‘Animal’ this year in Bollywood,” Bala added.

As we said at the beginning, the situation is constantly evolving from year to year. In fact, it is possible that the situation will change, and considerably, during the same year. There is nothing that one big hit can't fix, be it for the Hindi or pan-Indian film industry. Let’s hope the second half of 2024 is exciting.