Cinemas bank on festive season blockbusters to turn around a tepid 2024

Cinemas across India are banking on the upcoming festival season to revive their fortunes, with few movies having made waves at the box office in the past few months. The last quarter of the calendar year is usually a good time for the movie business thanks to a string of holidays including Dussehra, Diwali and Christmas. 

With films such as Bhool Bhulaiyaa 3, Singham Again and Pushpa 2 scheduled for release before the end of 2024, cinemas hope to narrow a potential drop in box office collections from 2023.

Dussehra weekend will see the release of Alia Bhatt-starrer Jigra, comedy drama Vicky Vidya Ka Woh Wala Video, and Rajinikanth’s Vettaiyan, while the Diwali weekend will see the third instalment of horror comedy Bhool Bhulaiyaa clash with Ajay Devgn’s Singham Again. 

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Tamil film Kanguva starring Suriya is slated for release in November, while December will bring period drama Chhaava and Allu Arjun’s Pushpa 2 – The Rule. Disney’s musical drama Mufasa: The Lion King is scheduled release at the end of the year, as are Varun Dhawan-starrer Baby John and Aamir Khan production Sitaare Zameen Par.

Strong lineup stokes optimism

Devang Sampat, managing director at Cinepolis India, said, “We anticipate that the last quarter of 2024 will outperform earlier quarters, reflecting substantial growth compared to previous years. This optimism stems from a robust lineup of highly anticipated films with significant box-office potential. The final quarter also aligns with festivals such as Diwali and Christmas, when cinema attendance is traditionally high.” 

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The last quarter of the year is traditionally the most profitable for the film industry, and the sheer scale and marketing muscle of upcoming releases such as Pushpa 2 and Singham Again mean this year should be no different, he added. 

With the exception of hits such as Stree 2, Kalki 2898 AD and a slew of Malayalam sleeper hits, it has been a subdued year for cinemas. Film producer, trade and exhibition expert Girish Johar said the Hindi film industry is seeing a ₹700-800 crore shortfall in July-September compared to the same period last year. That said, if upcoming releases hit the mark, the year could end on a positive note.

‘Collections down 10-15% from 2023’

Ashish Kanakia, chief executive officer, MovieMax Cinemas said, “The box office is currently lagging by 10-15% compared to last year. But we are hopeful, given the films that will be released and the number of holidays. This is a content-driven business and we can see a revenue spike only when the content connects with the audience.” 

While 2023 was an exceptional year for movies thanks to hits such as Jawan, Pathaan, Gadar 2, OMG 2 and Animal, 2024 has barely seen any major successes, said Pranav Garg, managing director at Maya Palace, a two-screen cinema in Muzaffarnagar. “Most other releases have either been small in scale, with less-popular names, or were not promoted well,” Garg added.

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To be sure, the biggest hits since covid have either been sequels or films from established franchises, trade experts said. These include Sooryavanshi, Bhool Bhulaiyaa 2, Pathaan, Gadar 2, KGF: Chapter 2 and most recently, Stree 2. That makes the anticipation for Pushpa 2 and Singham Again particularly strong.

“Movies packed with mass appeal, star power and franchise legacies, especially titles such as Pushpa 2, Singham Again, Kanguva and Vettaiyan are expected to draw massive crowds, breaking the language barrier to appeal to their pan-India fanbase. Historically, holiday releases enjoy good box-office runs and this year is shaping up to see some strong performances, too,” said Ashish Saksena, chief operating officer for cinemas at BookMyShow.