60 Lakh Moviegoers Flock to Theatres for Rs 99 Tickets
On September 20th, 2024, the Multiplex Association of India (MAI) celebrated a new milestone in Indian cinema, reporting a record-breaking attendance of over 60 lakh people in theatres across the country. This overwhelming turnout was driven by National Cinema Day, an annual event where audiences were able to enjoy films for just Rs 99 per ticket. Popular releases like *Stree 2* and *Tumbbad* attracted a significant portion of the audience, contributing to the day’s massive success.
Struggles and Revival in the Indian Cinema Industry
The record turnout comes after a challenging year for Indian cinema, which has been grappling with lower box-office collections for much of 2024. According to Ormax Media, box-office earnings from January to August 2024 amounted to Rs 6,868 crore, representing a 7.5% decline compared to the same period in 2023. Several factors contributed to this drop, including a lack of major film releases earlier in the year and distractions such as the Lok Sabha elections and major cricket events, which diverted public attention away from theatres.
Optimism for the Remaining Months of 2024
Despite these challenges, industry experts remain optimistic about the latter part of the year. Karan Taurani, Senior Vice President at Elara Capital, predicts that the final months of 2024 will outperform the same period last year, thanks to a highly anticipated lineup of Indian and Hollywood films. This includes big-budget productions and star-driven projects that are expected to bring audiences back to theatres in significant numbers.
Shift in Audience Preferences
In recent months, audience preferences have begun to shift, with Hindi films gaining more traction. In August 2024, Hindi films contributed 40% of the total box-office collections, an increase from 35% in July. On the other hand, regional films, particularly Telugu and Malayalam releases, which had performed well earlier in the year, have seen a slight decline. Analysts believe this shift towards Hindi and larger-budget films will continue throughout the rest of 2024, as franchises and star-studded releases dominate the box office.
As National Cinema Day continues to grow in popularity, it has not only brought people back to theatres but also provided a much-needed boost to the Indian film industry, helping it recover from a difficult year.
