MUMBAI: The annual Ormax Box Office Report (Obor) for 2024 reveals a year of highs and lows for the Indian film industry. The Obor states that despite a 13 per cent decline in Hindi box office collections, 2024 emerged as the second-best year of all time for the Indian market, with a total gross box office of Rs 11,833 crore, just three per cent shy of 2023’s record-breaking Rs 12,226 crore.
Key Highlights of the Report:
Overall Performance:
o With gross box office collections of Rs 11,833 crore, 2024 became the second-best year in Indian cinema history, despite a dip in footfalls and ticket price stabilisation.
Language-wise Trends:
o Hindi Cinema: Collections dropped from Rs 5,380 crore in 2023 to Rs 4,679 crore in 2024, with its market share falling to 40 per cent (a decline of 4 percentage points). Notably, 31 per cent of Hindi collections came from dubbed versions of South Indian films. Excluding dubbed films, original Hindi cinema witnessed a steep 37 per cent decline.
o Malayalam Cinema: A standout performer, it doubled its market share from five per cent in 2023 to 10 per cent in 2024, crossing the Rs 1,000 crore milestone for the first time.
o Tamil & Telugu Cinema: Maintained stable market shares with only marginal fluctuations.
o Hollywood: Experienced the steepest drop, with a 17 per cent decline in collections compared to 2023.
o Gujarati Cinema: Recorded a remarkable 66 per cent growth, second only to Malayalam cinema.
Top-Grossing Films:
o Pushpa 2: The Rule dominated the box office with Rs 1,403 crore, making it the highest-grossing film of 2024. Its Hindi dubbed version collected Rs 889 crore, setting a new record as the highest-grossing ‘Hindi’ film of all time.
o Other high-performing films included Kalki 2898 AD and Stree 2, which joined Pushpa 2 in crossing the Rs 500 crore mark.
o Films like Devara – Part 1, Bhool Bhulaiyaa 3, and The Greatest Of All Time grossed above Rs 300 crore.
Footfalls & Ticket Pricing:
o Total footfalls stood at 88.3 crore (883 million), reflecting a six per cent decline from 2023 and remaining below pre-pandemic levels.
o The Average Ticket Price (ATP) grew marginally by three per cent, from Rs 130 in 2023 to Rs 134 in 2024, marking stability after two years of double-digit growth.
Industry Insights:
The Obor highlights a shifting landscape in Indian cinema, with regional industries like Malayalam and Gujarati gaining prominence and south Indian films, particularly Pushpa 2, dominating national and Hindi markets. At the same time, challenges such as declining footfalls and a drop in Hollywood collections signal areas for growth.
Ormax Media, recognized as a credible source for domestic box office analytics, continues to shed light on these evolving trends. For more detailed insights, the full Ormax Box Office Report: 2024 is available for download.
