Indian Cinema Generates ₹11,833 Crore in 2024: Report
In 2024, the Indian cinema industry achieved box office collections totaling ₹11,833 crore, marking the second-highest annual revenue to date, slightly below the record set in 2023. This performance underscores the industry’s resilience and its capacity to captivate audiences nationwide.
A notable highlight of the year was the exceptional success of “Pushpa 2,” which amassed over ₹1,200 crore, underscoring the growing influence and appeal of regional cinema. The Malayalam film industry also experienced a significant surge, with its revenue doubling compared to previous years, reflecting a broader acceptance and appreciation for diverse linguistic and cultural narratives within Indian cinema.
Despite these successes, the industry faced challenges, including a 6% decline in overall footfall and a more pronounced 13% decrease in Hindi cinema attendance. These trends suggest shifting audience preferences and the increasing impact of alternative entertainment platforms, such as streaming services, on traditional cinema attendance.
Industry stakeholders have expressed concerns that rising ticket prices may be deterring potential moviegoers, potentially contributing to the observed decline in footfall. This issue highlights the need for a balanced approach to pricing strategies to ensure cinema remains an accessible and attractive entertainment option for a broad spectrum of the population.
Looking ahead, the Indian cinema industry is poised to continue its growth trajectory, with projections indicating a compound annual growth rate (CAGR) of 14.1% leading up to 2028. This optimistic outlook is supported by anticipated investments in diverse content creation, technological advancements in film production and distribution, and strategic efforts to enhance the overall cinematic experience for audiences.
In summary, while 2024 presented a mix of achievements and challenges for Indian cinema, the industry’s adaptability and commitment to innovation position it well for sustained growth and success in the coming years.
