Mammootty in Amal Neerad BhishmaparvamWhich was arguably the biggest hit of Malayalam cinema in 2022. Photo: Special Arrangement
According to estimates by the Kerala Film Producers’ Association (KFPA), the Malayalam film industry is expected to suffer an average loss of over ₹300 crore in 2022.
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Only 17 profitable projects
Of the 176 films that hit the theaters between January and December last year, only 17 clicked at the box-office. More than 90% of the films tanked, revealing a wide gap in return on investment for producers and distributors. The number of films earning more than Rs 10 crore for the makers from the theater collections in 2022 was less than 10.
2022 Malayalam releases that earned over ₹10 crore on an average for producers
Bhishmaparvam
Hridayam
Jan Gan Man
bitter
thallumala
Nana Than Case Kodu
rorschach
Jay Jay Jay Jay Jay
“The year 2022 did not offer much for the industry in overall analysis as the number of flops was far more than that of successful films. As content continues to be king, there has been a marked change in audience preferences,” said M. Ranjith, President, KFPA.
OTT is changing the game
“They decided to watch several small and medium budget films with good content at the time of release on over-the-top (OTT) platforms and stay away from watching it on the big screen. Some producers, whose films flopped on the first day of release in theatres, were able to recoup the loss by getting reasonable prices for their digital releases.”
With OTT players tightening their purse strings and choice of films to choose from, Mr Ranjith said returns from the sale of digital rights could further reduce in 2023. “The Malayalam film industry will have to think differently to bring audiences to theatres. We cannot pursue a revenue model that depends solely on the sale of digital rights as theater collections remain vital to the survival of producers,” he said.