Box office revenues are expected to hit a record high ₹12,515 crores in 2022, breaking the previous record of ₹10,948 crores in 2019 as audiences flock to cinemas in droves with revenge drinking after two years of covid-induced disruption, according to a report by media consultancy Ormax and investment in GroupM media.
In fact, revenue generated from ticket sales between January and April also reached an all-time high of ₹4,002 crores for the period. In addition, for the first time, average monthly collections exceeded ₹1,000 crores, the report adds. In comparison, in the first four months of 2019, box office collection was ₹3,550 crores.
The records were reached despite the impact of the third wave of covid-19 for most of January, when cinemas were not allowed to operate and film releases were pushed back. Additionally, 18% of theaters are still not open compared to 2019, and seating capacity was at 82% of pre-pandemic levels in April. However, operational capacity is expected to cross the 90% mark by June, leading to an increase in footfall in the second half of 2022.
The regional language’s contribution to revenue has played a major role, with Telugu cinema having experienced significant growth in box office revenue share over the past three years. In January-April, nearly 60% of Hindi box office revenue came from dubbed versions of South Indian films, thanks to two big releases, KGF: Chapter 2 and RRR, he said. Over the four-month period, Telugu films contributed 27% to overall revenue, up from 12% in 2019, while Hindi cinema’s share increased from 43% in 2018 and 39% in 2019 to 38 % in 2022.
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