Roaring hits and OTT resistance: The silver linings Kerala theatres saw in 2024 despite a Rs 700 crore loss

The Malayalam film industry may be going through a dismal period, due to huge losses incurred by producers, but there are some silver linings too. Though the latest figures by the Kerala Producers Association reveal that the industry has faced Rs 700 crore losses, it is heartening to know that at least 22 films did good at the box office compared to the dismal show put up by films last year.

This year, five films -- 'Manjummel Boys', 'Aadujeevitham', 'Premalu', 'Aavesham' and 'Ajayante Randaam Moshanam' – collected over Rs 100 crore in 2024, unlike 2023, which had only film '2018: Everyone is a Hero' that crossed Rs 100 crore at the box office. The industry also saw 11 hits to average hits, including 'Abraham Ozler,' 'Anweshippin Kandethum,' 'Bougainvillea,' 'Hello Mummy,' 'Sookshmadarshini,' 'Pani,' 'Thalavan,' 'Golam,' 'Nunakuzhi,' 'Anchakkalakokkan' and 'Ullozhukku'. This is in contrast to 2023 when 13 films only managed to break even.

Saji Nanthyattu, secretary of the Kerala Film Chamber, said the turnout this year has given them a ray of hope for the theatre business in Kerala and the Malayalam cinema industry as a whole.

"Pre-Covid, at least 12 films did good business. That came down to a very few numbers last year. However, this year, we saw at least 20 hits, which is a big deal for Malayalam cinema. Good content has inadvertently brought more people to theatres this year," he said, adding that the change in distribution policy in Kerala theatres – accommodating wide releases – has also paved the way for the revival of Kerala theatres.

Film Exhibitors United Association of Kerala (FEUOK) president K Vijayakumar said they had anticipated a buzz in theatres this year, owing to the number of big-budget Tamil and other pan-Indian movies, like 'Pushpa 2', 'Indian 2' and 'Vettaiyan', but were surprised by the turnover of Malayalam films. "We saw decent business from Malayalam films as opposed to other pan-Indian movies in 2024. This completely contrasts with last year's situation, when we had very few Malayalam hits. Rather, Tamil films like 'Leo' and 'Jailer' have brought us better profits. However, this year, none of the pan-Indian movies we had anticipated brought good business to theatres," he said.

Saji, meanwhile, added that the uncertainty of films reaching OTT platforms and the hurdles in OTT acquisition have also brought more people to theatres this year. According to him, people realised it's important to watch good cinema in theatres. "Also, major OTT platforms have stopped buying average or mediocre films. They are only willing to purchase hits and that too at lower rates compared to the post-Covid boom. A couple of films are yet to lock their OTT release, which has led to uncertainty" he said.

Dilu Venugopal, Cinema General Manager at PVR-INOX at Forum Mall, said people have also become more willing to experience diverse formats, which theatres like PVR are providing. "Unlike in the past, Malayali viewers are willing to spend money on new experiences. This is evident after PVR opened a 9-screen theatre at Forum Mall with state-of-the-art technology. It is heartening to see more people coming to theatres now as opposed to the first quarter," she said.