Home / Industry / Media /  Box office estimated to gross 12,515 cr in ’22: Report

Box office revenue is expected to touch a record 12,515 crore in 2022, beating the previous high of 10, 948 crore in 2019, as audiences throng cinemas in large numbers with revenge consumption kicking in after two years of covid-led disruptions, according to a report by media consulting firm Ormax and media investment firm GroupM.

In fact, revenue generated from ticket sales between January and April was also at an all time high of 4,002 crore for the period. Besides for the first time monthly average collections was at over 1,000 crore, the report added. In comparison, in the first four months of 2019 box office collection was at 3,550 crore.

The records were achieved despite the impact of the third wave of covid-19 for the better part of January, when theatres were not allowed to operate and film releases were pushed back. Besides, 18% of cinemas are still not open compared to 2019, and sitting capacity was at 82% of pre-pandemic levels in April. However, operating capacity is expected to breach the 90% mark by June, leading to incremental footfalls in the second half of 2022.

Regional language contribution to revenues has played a major role with Telugu cinema seeing significant growth in share of box office collections in the last three years. In January-April, almost 60% of Hindi box office revenue came from dubbed versions of south Indian films, thanks to two big releases, K.G.F: Chapter 2 and RRR, it said. In the four-month period Telugu films contributed 27% to overall revenues compared to 12% in 2019 while Hindi cinema’s share fell from 43% in 2018 and 39% in 2019 to 38% in 2022.

“These have been the first three or four clean months since March 2020 with no disruption on the business. While there was some concern on the uncertain future of the theatrical business, those have been laid to rest. All 2019 records have been broken despite sub-optimal capacity and absence of a big Hollywood release in this period," Shailesh Kapoor, founder and chief executive, Ormax Media said.

While the number of operational cinemas is lower than pre-covid times, Kapoor said, most theatres operate at an average capacity of 30-35% anyway and high footfalls are seen only for big-ticket films.

As far as top hits of the year so far go, action film K.G.F: Chapter 2 leads the list with gross box office collections of 1,008 crore across languages, followed by period drama RRR at 875 crore, political thriller The Kashmir Files ( 293 crore), Tamil film Beast ( 169 crore) and Sanjay Leela Bhansali’s Gangubai Kathiawadi ( 153 crore). Ajay Mehta, managing director of GroupM’s cinema advertising and Outdoor business under iTV and Kinetic respectively, said that the universe of films has expanded with audiences now watching content across languages. Large franchises and spectacles from the south have also brought families into the fold of theatre viewing, going beyond the youth.

While there were no Hollywood blockbusters released in the January to April period this year, event films from the American film industry have seen a huge uptake in the post-pandemic world, the report said. Given the line-up of strong films in the rest of the year including Jurassic World Dominion, Thor: Love and Thunder, and Avatar: The Way of Water, 2022 holds potential of being the best-ever year for Hollywood in India, surpassing 2019 gross box office figures of Rs. 1,595 crore.

The Hindi film roster for this year includes Aamir Khan’s Lal Singh Chaddha, Jug Jug Jeeyo and Samrat Prithiviraj, among others.

The report also points out that after struggling for three years before the pandemic, Marathi cinema has seen a resurgence in 2022, with four films opening above the 1 crore mark between February and May 2022. Punjabi cinema has seen some strong performers at the box office too, signalling its resurgence this year, with hits like Honsla Rakh, Lekh and Saukan Saunkne.

The return of audiences has signalled the revival in cinema advertising. As per GroupM estimates, 280 brands advertised in theatres in the release week of K.G.F: Chapter 2, which is only 20-25% lower than the peak brand interest in 2019. With multiple big-ticket releases lined up across languages in the coming months, the company expects the 350 mark to be achieved in the festive season later this year.“Advertising has made a strong comeback, both in terms of number of brands and overall spends," Mehta said naming new-age start-ups and brands across lifestyle, auto and apparel as companies making investments in in-cinema advertising.

ABOUT THE AUTHOR

Lata Jha

Lata Jha covers media and entertainment for Mint. She focuses on the film, television, video and audio streaming businesses. She is a graduate of the Columbia School of Journalism. She can be found at the movies, when not writing about them.
Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout