Box office estimated at 12,515 cr gross in 22: Report

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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