Malayalam film industry suffered at least Rs 650 crore loss in 2024, producers say

Thiruvananthapuram: 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 told PTI.

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 filmmaking.

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

The increasing remuneration of actors is posing a threat to the producers who cannot control their expenses, and the former should come forward to cooperate with the producers to run the industry better, he said.

The producers felt that this year’s figures show that the audience was accepting films with content and quality rather than going for all the films being released.

All stakeholders in cinema should extend their cooperation to the producers to enable them to run the industry with improved financial management to bring more achievements to Malayalam cinema in the coming year, he said Sharing the view, actor-director K Madhupal also said the ultimate objective should be that cinema should survive as a medium.

“All those involved should be prepared to make compromises to ensure a better future for cinema,” he told PTI.

Madhupal, who is also the chairman of Kerala Cultural Activists Welfare Fund Board, said everyone in the field should act with the conviction that it is their industry, and they have a role in sustaining it.

He said Malayalam films are noticed everywhere for their content and even filmmakers in other languages wait for the release of new Malayalam films.

On the suggestion that actors should reduce their remuneration, he said it was the producer who determines the pay of an actor and it was up to the actor to take a decision on that.