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Kerala Kaumudi Online
Monday, 20 May 2024 5.35 PM IST

Mollywood faces thousand crore loss in 2023

cinema-bandh

KOCHI: Out of 220 film releases, 1,000 crore rupees were lost marking a significant setback for the industry. Only 14 films managed to recoup their production costs out of the estimated 1,500 crores spent on production. Only four films gained the status of 'super hits.'

The film industry faced a setback due to a lack of success in theaters resulting in substantial financial losses. Even the investments made in modernizing theater facilities remained unrecovered owing to the absence of hit films.

OTT platforms further aggravated the situation by disregarding most Malayalam films causing a major dent in revenue. Their criteria of only selecting successful theatrical releases for digital streaming contributed significantly to the financial blow.

Post-pandemic, many films were tailored specifically for OTT platforms receiving budgets up to Rs 4 crores side lining theatrical releases.

Super hits (Director)

2018 (Jude Anthony)

Kannur Squad (Roby Varghese)

RDX (Nahas Hidayat)

Romancham (Jithu Madhav)

Neru (Jeethu Joseph)

Hits

Nanpakal nerathu mayakkam

Madhura manohara moham

Neymar

Pranaya vilasam

Pachuvum athbhutha vilakkum

Falimy

Garudan

Kaathal

Pookkalam

Many films are not made for theatrical success. Awards and fairs are expected in the name of passion. As an industry this time again a huge loss has occurred.

-BR Jacob, President, Kerala Film Chamber of Commerce

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TAGS: MOLLYWOOD, THOUSAND, CRORE, LOSS, 2023, CINEMA, INDUSTRY
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