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Tag: Global box office

  • ‘RRR’ brings tsunami at the box office, signalling normalcy in film business

    ‘RRR’ brings tsunami at the box office, signalling normalcy in film business

    Mumbai: Star filmmaker SS Rajamouli’s latest magnum opus “RRR” opened to a terrific response across 7,000 screens in India and globally on Friday. The fantasy-drama film recorded the highest opening numbers after “Baahubali: The Conclusion,” the filmmaker’s last outing. Trade pundits believe that it is the glowing word of mouth that helped “RRR” to become immensely popular amongst moviegoers within just three days of its release.

    “RRR” is the first film after two continuous years of instability to have a 100 per cent opening in terms of occupancy. Reportedly, the film overtook “Baahubali 2” with the first day’s earnings and has earned Rs 580 crore till Sunday evening.

    On its debut day, the film earned Rs 18 crore in the Hindi belt alone. On the second day, the film continued to rake in Rs 24 crore. On the global front, the film is doing well in Australia and USA as well. It earned Rs 223 crore worldwide. In India, the film earned Rs 156 crore, while in the USA, the film minted Rs 42 crore and in the non-US market, it nabbed Rs 25 crore, which takes the total to a solid Rs 223 crore. 

    Rajamouli’s marketing strategy did the magic for “RRR”

    The marketing team of “RRR” has done a tremendous job to create a buzz around the film even before its release. While being a visual masterpiece, “RRR” has been in talks since 2018, when the shooting schedule was planned.

    “RRR” was never meant to be a Tollywood film. As a pan India film, it targeted gen-Z and millennials by using social media applications like Snapchat.

    Movie business returning to normalcy

    Experts believe that full-year FY23 box office revenue should be in line with pre-Covid levels as of now. Even on a like-to-like basis – while comparing March 2019 too, there is a 30 per cent + growth in box office revenue for exhibitors, estimated by Elara Capitals before the release of “RRR.”

    With back-to-back hits, including “RRR,” “The Kashmir Files,” “Gangubai Kathiawadi,” March 2022 has seen Hindi box office revenue growth of at least 30-35 per cent versus pre-pandemic levels of March 2019.

    Elara Capital’s Taurani expects this momentum to accelerate from April 2022 onwards.

    Bollywood business growth for 2022 is backed by promising content lineup

    If we see the trend so far, the year opened with “Badhaai Do,” a comedy-drama crafted around the LGBTQI+ community and same-sex relationships.

    Soon after, Bollywood saw two big historical films – “Gangubai Kathiawadi” and “The Kashmir Files.” The two films turned out to be a great surprise not just for the audience but for producers too by collecting Rs 150 crore and Rs 250 crore, respectively.

    Along with the huge openings in the first quarter, big-budget films like “Jersey,” “Brahmastra,” “Heropanti 2,” “KGF 2,” “Tejas,” “Ram Setu” are also lined up for release in the next few months.

    Looking at the content lineup for the next nine months of 2022, it can be said that the present growth will sustain and 2022 will manage to match pre-Covid levels leading to normalcy in the film business.

    What is the story of “RRR”

    Set in the 1920’s, “RRR” is based on the lives of Telugu freedom fighters, Alluri Sitarama Raju (played by Ram Charan) and Komaram Bheem (Jr NTR). Bankrolled by DVV Danayya, “RRR” was reportedly made on a massive budget of Rs 450 crore. Alongside the lead turn from Ram Charan and Jr NTR, the film also features Ajay Devgn and Alia Bhatt in extended cameos.

  • Online video surpasses 1 billion subscriber mark globally

    Online video surpasses 1 billion subscriber mark globally

    KOLKATA: For the first time ever, online video services have surpassed the one billion subscriber mark globally. In the pandemic hit year 2020, the overall subscriber base has reached 1.1 billion, recording a 26 per cent year-on-year growth, according to a report from Motion Picture Association.

    The global home/mobile entertainment market has raked in $68.8 billion in revenue, marking a 23 per cent increase over 2019. In the United States, subscriptions have crossed 308.6 million, representing a 32 per cent growth from 2019, and the home/mobile market increased 21 per cent, reaching $30 billion.

    While the global market for theatrical and home/mobile entertainment distribution fell 18 per cent to $80.8 billion, the surge in the digital entertainment market has helped partially offset the decrease in the global box office caused by theatre closures during the pandemic.

    “Despite the challenges to the global economy brought on by the Covid2019 pandemic, the film television, and streaming industry has once again risen to the occasion,” said Motion Picture Association chairman and CEO Charles Rivkin.

    “Streaming experienced another huge boom, with new entrants into the market and more than one billion subscriptions worldwide for the first time ever. We kept audiences connected and entertained wherever they were and whenever they desired. Theatrical and home entertainment remain two essential parts of this dynamic and iconic industry, and I am confident that movie theatres will experience a great comeback in the months ahead,” he added.

    However, cable TV revenue is still larger than the online video market. Cable revenues for global industry stood at $116 billion.

    55 per cent of US adults reported that their viewing of movies or shows/series through an online subscription service increased, while 46 per cent reported that their viewing via pay TV increased. More than 85 per cent of children and over 55 per cent of adults watch movies or shows/series on mobile devices.

    Daily viewers of movies or shows/series on mobile devices skew more heavily towards the 18-24 and 25-39 year-old age groups, as well as the Hispanic/Latino and African-American/Black ethnicity groups.

    The global box office market for all films around the world was $12 billion in 2020; Within that number, the US/Canada box office market was $2.2 billion. The top three box office markets outside the US and Canada were China ($3 billion), Japan ($1.3 billion ), and France ($500 million ).

  • Global box office receipts reached $34.7 billion in 2012: MPAA

    Global box office receipts reached $34.7 billion in 2012: MPAA

    MUMBAI: The Motion Picture Association of America‘s (MPAA) annual Theatrical Market Statistics Report for 2012 shows that global box office receipts for all films released around the world reached $34.7 billion in 2012, an increase of 6 per cent over 2011.
    U.S./Canada box office was up 6 per cent over last year to $10.8 billion, due to a 6 per cent increase in admissions to 1.36 billion. Domestic ticket prices remained flat in 2012.
    "I am happy to report that in 2012, both global and domestic box office was up and so were domestic admissions," said MPAA Chairman and CEO Senator Chris Dodd.
    "Great storytelling, memorable characters and an ever-innovating theater experience brought more people around the world to the movie theater in 2012 than ever before. It‘s a powerful reminder of just how much movies matter – not just to our culture, but also to our economy. Our industry supports 2.1 million jobs in the United States and more than 120,000 of those jobs are in movie theaters. So as you‘re looking at this report, it‘s important to remember the real economic impact these numbers have."
    International box office was also up in 2012, driven by growing markets like Russia, Brazil and China, which grew by 36 per cent in 2012 to become the largest international market, surpassing Japan. 2012 also marked the first year that digital screens surpassed analog screens in international market share. Over two-thirds of the world‘s nearly 130,000 cinema screens are now digital.
    "The cinema industry serves an increasingly diverse audience, by age, gender and ethnicity," said National Association of Theatre Owners (NATO) President and CEO John Fithian. "The record box office, here and abroad, shows that when we meet that diversity with a broad range of movies and amenities, cutting edge technologies and viewing options our industry thrives."
    In the US and Canada, 3D box office was comparable to 2011 levels at $1.8 billion, despite fewer 3D film releases.
    More than two-thirds of the U.S./Canada population – 225 million people – went to the movies at least once in 2012, consistent with prior years. Cinema ticket sales continue to be driven by frequent moviegoers – those who go to the movies once a month or more. Frequent moviegoers represent 13 per cent of the population but purchased 57 per cent of all tickets sold in 2012.