Malayalam film industry suffered at least Rs 650 cr loss in 2024

December 29, 2024 14:56

Jyotika and Mammootty in Kaathal: The Core.

Though Mollywood has produced a few blockbusters that received a pan-Indian release and reaped huge profit in 2024, only 26 of the 204 films released in the year got a rewarding collection, as per the figures released by the Kerala Film Producers Association.

Of the 199 new films and five remastered versions of earlier productions released in theatres for which the industry spent around Rs 1,000 crore, only 26 films got a profit Rs 300-Rs 350 crore from theatres, KFPA secretary A Rakesh said.

The figures meant that the industry suffered a loss of Rs 650 crore to Rs 700 crore during the year, he said.

All the stakeholders, including actors, should keep strict financial discipline in the Malayalam filmdom to sustain cinema industry, Rakesh said.

Only 26 films released this year come under super hit, hit, and average hit categories.

These films made a profit of around Rs 300 to Rs 350 crore, while other films could not make any impact in the theatres.

He said more than 200 films were released in 2023 also, most of which received the same fate in theatres.

Asked about the turnover from OTT platforms he said not many films could make it to the OTT as most of them were bought based on theatre collection.

He said the association arrived at the figures based on the estimates given by producers, which will be approximately close to the actual costs involved in film-making.

The producers felt that the production cost of movies should be brought down and without financial prudence the industry couldn't sustain. -- PTI

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