Analysis of the Indian Box Office Report for the First Half of 202

Hello,

I'm Vipul, and welcome to Leeds1888, Issue 34. The incredible evidence of your love for Leeds1888 is reflected in the average of 20 emails I receive per day concerning the subjects covered in this newsletter. That's a whopping 600 emails per month! Keep on reading, asking questions, and showing your support!

For new readers, I delve into significant events and valuable insights from the world of media and entertainment.

Now, let's get to what I have in store for you today:

• Top OTT Shows & Movies
• Analysis of the Indian Box Office report for the first half of the year
• Weekly Box Office numbers
• Entertainment Quiz
• News Buzz

Top watched Movies & Shows on OTT platforms this week

What's Inside the Indian Box Office Half-Yearly Report Card?

With Hollywood and Actors on strike, the entertainment industry has hit a major roadblock. To shift our focus, this week, we delve into the intriguing developments in the Indian box office. From the status of movie releases in various Indian languages to collections, hits, and misses.

In my search, I came across the most recent half-yearly report by Ormax, titled "India Box Office Report." In this analysis, we'll steer clear of discussing movie content, quality, reach, or diversity and solely focus on the numbers.

The growth of any sector hinges on its revenue's annual progression compared to the previous year. Sadly, on those crucial parameters, the half-yearly report paints a dismal picture.

Month wise total Indian Box office collection 2023- ₹4868 Crores

Month wise total Indian Box office collection 2022- ₹5704 Crores

Every week, I gather the latest releases for you, and one striking observation I've made recently is the noticeable decline in the number of Bollywood releases. Moreover, the number of hits has been significantly lower as well. In stark contrast, almost every week, there is a fresh release in all the South Indian languages, including Tamil, Telugu, Kannada, and Malayalam.

In the list of the top 5 languages with the maximum releases, Hindi movies had the fewest numbers of releases

The above list unmistakably illustrates that the number of releases in the Hindi language is significantly lower compared to the movies from the southern region.

The report highlights the following key points

• The cumulative number of releases during the first 6 months of 2023 is 15% lower compared to last year.
• In comparison to other languages, a smaller number of Hindi movies were released. However, when viewed individually, their share stands at 37%, which is slightly higher than the 34% share recorded last year.

Presenting my analysis of the report

• The top 10 movies contributed to 50% of the total revenue.
• Hindi movies continue to possess a broader audience and the potential to generate higher revenue. Despite having fewer releases in the first six months compared to previous years, they still managed to earn more in collections.
• Only Pathan & Aadipurush emerged as the sole out-performers in the first half of this year, crossing the 300 crore mark. In comparison, the previous year witnessed RRR, Kashmir files, KGF-2, and Vikram achieving the same milestone.
• Kannada hits had been significant contributors in the previous years. However, this year, both the number of hits and releases have experienced a sharp decline.

Conclusion

• The time has come for the Indian movie industry to step up and produce more grand-scale productions, akin to the Hollywood studios. Embracing global perspectives in our filmmaking can elevate our position in the international arena.
• While private studios might be wary of frequent large investments, I propose that the Government consider offering tax incentives for movies with budgets exceeding 500 crores, as they not only boost the economy but also create numerous job opportunities. Just as other sectors like manufacturing receive such incentives, why not extend the same support to the Entertainment sector, which showcases Indian talent and culture to the world.
• Moreover, it's essential to recognise that while not every movie becomes a blockbuster, most films do manage to recover their costs. Hence, a strategy of producing more movies in multiple languages can substantially contribute to the overall revenue of the sector. Diversifying language offerings can cater to diverse audiences and help sustain the industry's growth.

Weekly Box Office Collection Report

Quiz Time

Question- Name the first official Indian Documentary ever made?

Hint:

Answer of the last week’s quiz:

Q-Which is the longest Hollywood movie ever made?

A-Cleopatra remains the longest Hollywood movie ever made, with a runtime of four hours and eight minutes (248 minutes).

News Buzz

• A former Netflix executive has disclosed the primary reason behind the ongoing strike negotiations remaining inconclusive to this day. Watch this CNBC video
• Hayao Miyazaki, the renowned Japanese filmmaker hailed as one of the most accomplished in animation history, has returned with 'The Boy and the Heron.' A must-watch for animation enthusiasts, this masterpiece captivates with its mature and intricately crafted visual world.

Thanks for reading and see you next week!

Vipul