Aditya N
Aditya N
Shah Rukh Khan’s absence was strongly felt in the film industry, as the initial months of 2024 did not meet the expectations of the box office. Despite having over 3000 crore invested in films during the first quarter, the collections fell short of the required numbers to give the exhibition sector a sense of continuity from 2023. Unfortunately, there were only a handful of surprises, such as ‘Shaitan,’ ‘Laapataa Ladies,’ ‘Teri Baaton Mein Uljha Jiya,’ and ‘Article 370’, which managed to garner decent numbers at the box office but still fell significantly below the previous year.
During this quarter, the Hindi box office experienced a 20 percent decline compared to the previous year. This period marks one of the initial quarters where medium-budget films have shown signs of improvement. Approximately 3-4 films have surpassed the historical averages of the past two years, during which medium-budget content struggled. The comedy genre has seen a significant rise in popularity. In addition to action films, dramas have also performed well. Films with unique genres, such as horror like Shaitaan and comedies, have proven to be successful. Over the last two years, large-budget films have contributed 85-90% to the industry. However, in this quarter, their contribution has decreased to 65-70%, which is positive news for the industry as it indicates a more diversified performance that is not solely reliant on big-budget productions. This shift can be attributed to discounted ticket prices and other promotional offers. It is important to acknowledge this factor. Nevertheless, the industry has a sense of relief during this quarter.
Many industry experts believe ‘Pathaan’ played a crucial role in shaping the outcomes of the first quarter of 2024. According to trade analyst Taran Adarsh, the absence of a film like ‘Pathaan’ has resulted in a less captivating first quarter this year. Similarly, trade analyst Komal Nahta pointed out that neither Hollywood nor Bollywood dominated this quarter, emphasizing that ‘Pathaan’ was the key player in the industry’s success last year. The major letdowns included ‘Main Hoon Atal,’ ‘Fighter,’ and ‘Merry Christmas,’ all helmed by accomplished directors, leading to high anticipation. Trade analyst Girish Wankhede said, “Despite the success of smaller films, the larger productions such as Merry Christmas, Yodha, Fighter, and Swatantrya Veer Savarkar failed to resonate with the audience regarding box office numbers.”
In the initial three months of 2023, two significant revelations emerged: ‘Laapataa Ladies’ and ‘Article 370’, both prominently featuring heroines. Wankhede expressed, “Laapataa Ladies and Article 370 were smaller films that received praise from critics. These movies were commended for their substantial content and achieved satisfactory commercial success.” On the other hand, Vikramaditya Motwane noted that during a recent event, the audience for independent cinema stopped coming to the movie theaters. All eyes are now on Eid releases, Akshay Kumar – Tiger Shroff’s Bade Miyan Chote Miyan and Ajay Devgn’s Maidaan.
