Only 17 of the 176 films released in theatres between January and December of last year made money at the box office, and of those 17, fewer than 10 brought in an average of more than 10 crores for the producers.
According to estimations from the Kerala Cinema Producers’ Association, the Malayalam film industry will have incurred average losses of more than 300 crores in 2022. (KFPA).
There are just 17 profitable projects.
Only 17 of the 176 films released in theatres between January and December last year made a profit. More than 90% of the movie failed, illustrating the widening returns on investment for producers and distributors. According to the report, the number of films that generated an average of more than 10 crore shares for the producers from box office receipts was less than ten in 2022.
2022 Malayalam releases that paid the producers an average of more than 10 crore
- Jana Gana Mana
- Nna Thaan Case Kodu
- Jaya Jaya Jaya Jaya Hey
“The year 2022 did not give much for the industry in the analysis as the number of flops was significantly higher than the successful movies. However, as long as content reigned supreme, there has been a discernible shift in audience preferences,” stated M. Renjith, president of KFPA.
“They decided to see many small and mid-scale budget movies with good content at the time of its debut on the over-the-top (OTT) platform and kept away from watching it on the big screen. “Some of the producers whose films failed on the first day of theatrical distribution were able to make up for the loss by charging a reasonable fee for digital release,” he continued.
With OTT providers tightening their purse strings and movie choices, Mr Renjith predicted that earnings from the sale of digital rights would fall further in 2023. “Malayalam film industry will have to think differently to lure the audiences into the theatres. We can no longer afford a revenue model based solely on the sale of digital rights, as theatre collections remain critical to producers’ existence,” he stated.