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Once the unchallenged heartbeat of Indian entertainment, Hindi cinema is now contending with an undeniable audience retreat. India’s largest multiplex chain, PVR INOX, which accounts for a major share of box office revenue, saw Hindi box office decline by 26% in FY2025, while regional box office grew by 7%.
Theatres are emptier, footfalls are declining, and a growing chunk of the audience is now firmly planted in front of OTT platforms. As regional cinema — especially from the South — powers ahead with strong local narratives and smart pricing strategies, Bollywood’s seat at the top of the Indian film industry is no longer guaranteed.
A decline in numbers and re-release of old films
Adding to the unease is a peculiar trend: the re-release of older films in a bid to fill vacant auditoriums — a move that reflects both nostalgia and necessity. As southern film industries surge with box office blockbusters and fiercely loyal, price-sensitive audiences, whispers of a paradigm shift have grown louder. Ticket pricing and strong storytelling rooted in local culture have helped South cinema rise, gradually eclipsing Bollywood’s traditional dominance.
In this shifting cinematic landscape, the pressing question emerges — is Hindi cinema merely experiencing a temporary slump, or is it time for a radical reset to reclaim its cultural and commercial throne?
The slump is real and not just anecdotal.
The numbers are telling. According to the Ormax Box Office Report 2024, Hindi cinema’s box office collections plummeted from ?5,380 crore in 2023 to ?4,679 crore in 2024 — a steep fall that reduced its market share to 40%. Meanwhile, regional cinema, led by Telugu and Malayalam films, claimed a commanding 60% of the pie. Telugu films achieved their best-ever domestic collections at ?2,348 crore, while Malayalam cinema doubled its share to an unprecedented 10%, crossing ?1,000 crore for the first time.
PVR INOX recorded a total revenue dip of 5% — from ?6,203.7 crore in FY24 to ?5,874.6 crore in FY25. It posted a loss of ?152 crore in FY25, compared to a profit of ?114.3 crore in FY24.
As per the 2024–25 report, Hindi box office declined by 26% due to a 14% drop in the number of Bollywood titles, a lack of superstar movies, and postponement of release dates. In contrast, regional box office saw a 7% increase. Hindi box office share dropped from 51% to 41%, while the regional share rose from 26% to 32%.
Revenue from movie ticket sales declined by 9.9% to ?2,955 crore in FY25 (from ?3,280 crore), while food and beverage revenue dropped by 6.7% to ?1,827 crore (from ?1,958 crore).
Structural challenges, not just storytelling
Amid this shifting cinematic landscape, Hindi cinema’s struggles aren’t just numerical — they are deeply structural.
“There is definitely quite a slump,” says Komal Nahta, veteran film trade analyst. “Footfalls have declined and therefore revenues are lower. There are several reasons for this. One, the content is not good enough. Secondly, now Hindi films have to compete with world cinema... dubbed in various languages. So, imagine — we’re competing with world cinema, world web series, world serials.”
It’s not just the content, but also the way people consume entertainment that has dramatically evolved. The rise of OTT platforms and digital media has altered viewing habits irreversibly.
“People consume reels for 2-2 and 3-3 hours together. Entertainment could be full films, television serials, OTT, or short reels. At the end of 2 hours, they feel they’ve had their dose. So why spend money and go to the cinemas?” Nahta adds.
Even marquee Bollywood films can’t guarantee footfalls unless buoyed by exceptional word-of-mouth. As a result, an unusual phenomenon has gained traction — the re-release of old films.
In a bid to stay afloat, theatres are turning to past glories. But this isn’t necessarily a sign of revival — rather, it highlights Bollywood’s reliance on nostalgia amid a dry creative spell.
“The industry is in a slump — for many intertwined reasons,” said director and writer Kulish Thakur. “It’s not that people have stopped loving movies; it’s that convenience has taken over. Audiences aren't feeling compelled to leave their homes because the films in theatres aren't inspiring enough confidence.”
“Yes, old films being re-released definitely proves that there is a lack of new content that works in cinemas,” Nahta acknowledges. “For every one film that becomes a hit in the re-release category, there are seven or eight that don’t work.”
Not over, just evolving
Today’s viewers know that a film will land on an OTT platform within weeks of its release. For many, the theatrical experience feels optional at best.
“Ticket pricing has created a deep divide — the wealthy only show up if the word-of-mouth is extraordinary, and the less privileged simply can’t afford to go. Meanwhile, platforms like YouTube are thriving, offering relatable, low-cost content that speaks to the majority — the forgotten and overlooked,” Thakur says.
The affordability crisis is echoed by media expert and former Viacom18 business head, Nina Alavia Jaipuria.
“People need a strong reason to go to the theatres. A great story well told and made. None in the recent past, unfortunately,” she says. “Also, going to the movies as a family is not as affordable anymore... viewers are willing to wait to watch it on personal screens.”
Pricing, content quality, and digital convenience — the holy trinity of the current crisis — have each played a role in Bollywood’s waning grip. But there’s a broader economic context too.
“The country is in the middle of an economic crisis,” Thakur points out. “Entertainment just isn’t the priority it once was.”
Still, some believe it’s too early to write Bollywood’s obituary. A senior industry expert, who wished to remain unnamed, offers a more nuanced view.
“Even in the South, not every film is a hit, and big releases like Pushpa also face pricing spikes. While the cost of watching films in the South is generally lower, the difference isn’t dramatic when you look at averages.”
They argue that pessimism around Hindi cinema may be amplified simply because it garners the most attention. “No film industry has fully recovered post-Covid. The conversation about the decline is louder in the Hindi film space because it garners more attention. A deeper, data-driven analysis may reveal that the success rates are not drastically different between Hindi and South cinema,” the expert said.
Still, South Indian industries — Telugu, Tamil, Malayalam, and even Gujarati — seem to have found ways to retain audience loyalty. Strategic pricing, powerful regional storytelling, and a deep local connection have allowed these industries to not only survive but thrive.
Hindi cinema’s heavy dependence on tentpole blockbusters has proven unsustainable. In 2024, just two films — Pushpa 2: The Rule (a dubbed film) and Stree 2 — accounted for ?1,587 crore, highlighting the growing gap between blockbuster success and mid-budget film failures.
Meanwhile, audiences are tuning into Malayalam and Gujarati films for fresh narratives. The Gujarati industry, often overlooked, recorded a 66% growth last year, with Jhamkudi alone grossing over ?20 crore.
And yet, there’s hope. Perhaps this slump is not the beginning of the end, but a necessary recalibration.
Thakur believes the industry is “searching and going through a reset,” calling the current phase “a strategic move to fill gaps in the release calendar.”
Jaipuria echoes this: once compelling stories return, audiences might too. “A great story well told” remains the key.
Reinvention might mean regional partnerships, calibrated ticket pricing, investing in mid-budget narratives, or extending the theatrical-to-OTT window. It may also mean telling stories that speak to India’s evolving realities — beyond star power and spectacle.
For now, the numbers suggest Bollywood is no longer the default choice of Indian moviegoers. But its cultural imprint is too deep to dismiss.
The question isn’t whether Hindi cinema can bounce back — it’s whether it’s willing to listen, evolve, and earn its audience again.
As Komal Nahta puts it: “People’s standards of viewing have gone up so high that average, below average doesn’t stand a chance... now they want only the best.”
In a country that still dreams in cinema, the screen isn’t going anywhere — but who gets to dominate may depend on who learns to speak to the heart, again.
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