Indian cinema experienced a slight decline in 2024, with total box office collections falling by 3% compared to the previous year, as reported by Ormax Media. While 2024 grossed Rs.11,833 crore, making it the second-highest-grossing year of all time, it lagged behind 2023’s record of Rs.12,226 crore. Despite the drop, 2024 still marks the fourth consecutive year that the Indian box office crossed the Rs.10,000 crore mark, a milestone reached in 2019, 2022, and 2023.
The Hindi film industry, in particular, saw a sharp dip in earnings, with collections plummeting from Rs.5,380 crore in 2023 to Rs.4,679 crore. The sector’s market share also dropped by 4 percentage points, now accounting for just 40% of the total box office revenue. This decline was largely attributed to a decrease in original Hindi-language films, which suffered a steep 37% fall in box office performance. However, the rise of dubbed South Indian films, especially Pushpa 2: The Rule (Hindi), which grossed ₹889 crore, helped cushion the decline. Other major hits like Stree 2 and Kalki 2898 AD also contributed to Hindi cinema’s performance.
On the bright side, Pushpa 2: The Rule emerged as the highest-grossing film of the year, grossing Rs.1,403 crore, with the Hindi version leading the charge. South Indian cinema saw an impressive rise, with dubbed films contributing significantly to Hindi collections. Malayalam cinema, in particular, doubled its share, from 5% in 2023 to 10% in 2024, while Gujarati cinema witnessed a 66% increase in box office revenue.
In contrast, Hollywood struggled in 2024, experiencing a sharp 17% drop in its revenue share, which fell to just 8% of the overall box office. The total revenue from Hollywood films amounted to Rs.941 crore, with franchise films like Mufasa: The Lion King and Deadpool & Wolverine leading the pack. For the second consecutive year, no Hollywood film crossed Rs.200 crore in India. This downturn reflects Hollywood’s growing dependence on established franchises to achieve success in the Indian market, with films like Venom: The Last Dance and Kung Fu Panda 4 contributing to its weaker performance.
With footfalls down 16% in 2024 and Hollywood’s weakest performance in the past decade, it’s clear that Indian cinema’s landscape is shifting, with South Indian films and franchises holding the lion’s share of attention.
