Record-breaking 2023: Indian cinema achieves Rs. 12,000cr box office milestone
What's the story
The year 2023 was a groundbreaking one for Indian cinema, with the box office grossing a whopping Rs. 12,226cr, as reported by Ormax.
This milestone marks the first time the Indian industry has surpassed the Rs. 12,000cr mark!
Hindi cinema alone raked in an impressive Rs. 5,380cr, crossing the Rs. 5,000cr threshold for the first time.
Notably, while Tamil and Telugu films held steady, Hollywood and Kannada cinema experienced a decline.
Context
Why does this story matter?
After a lackluster post-pandemic phase, Hindi films experienced a significant revival in 2023, led by blockbuster hits like Pathaan, Gadar 2, Jawan, and Animal.
Despite disappointments from highly-anticipated films like Salman Khan's Kisi Ka Bhai Kisi Ki Jaan and Prabhas-Kriti Sanon-led Adipurush, the year set a promising stage for the future nonetheless.
The report indicates that Hindi cinema's box office share rose to a pre-pandemic high of 44%, up from 33% in 2022.
Details
Of this, SRK contributed a massive Rs. 1,622cr
The top 10 films of 2023 reportedly accounted for a massive 40% of the year's total box office revenue.
Out of these, three films (Pathaan, Jawan, and Dunki) featured Shah Rukh Khan in the lead.
Interestingly, their combined gross collections reached an astounding Rs. 1,622cr.
Among these, Jawan, directed by Atlee, emerged as the highest-grossing film, collecting a staggering Rs. 734cr.
It's streaming on Netflix.
Collections
In numbers: Contributions made by top films of 2023
Over 1,000 films were released in 2023, and five films (Pathaan, Jawan, Animal, Gadar 2, and Salaar: Part 1 - Ceasefire) crossed the gross box office of Rs. 500cr.
Additionally, Rajinikanth's Jailer and Vijay's Leo achieved monumental success too, each surpassing the Rs. 400cr mark at the Indian box office.
Meanwhile, footfalls in Indian cinema reached 94.3cr (943M) in 2023, a modest 6% growth over 2022, but still shy of the pre-pandemic level of 103cr in 2019.
Insights
Performance of other language industries in 2023
Last year, Tamil and Telugu cinema witnessed growth of 14% and 6%, respectively.
Punjabi cinema also experienced a revival in 2023, boasting a humungous 60% growth in box office collections over 2022.
Despite some of the big releases including Oppenheimer, Barbie, and Guardians of the Galaxy Vol. 3, Hollywood, however, lost ground compared to 2022, dropping from 12% to 8%.