PremiumMalayalam Cinema 2024 Wrap-Up: Manjummel Boys, Aavesham and other blockbusters fail to prevent Rs 1000 crore loss
In 2024, Malayalam cinema had 11 blockbusters, including Manjummel Boys, Aavesham, Premalu, and others. However, the industry still suffered a major loss of over Rs 1000 crore.
Last Updated: 02.09 AM, Dec 24, 2024
Malayalam cinema had a dream run in both the theatres and OTT in 2024, with some well-made films that earned both critical and commercial success. Interestingly, the Malayalam film industry had 11 blockbusters in 2024, including the Manjummel Boys, Aavesham, Premalu, Aadujeevitham, and others. However, the recent updates from the Kerala Film Chamber suggest that 2024 was not a successful year for the industry, as Malayalam cinema reportedly suffered a loss of over Rs 1000 crore.
Malayalam cinema suffers a Rs 1000 crore loss in 2024?
If the reports are to be believed, Malayalam cinema suffered a loss of over Rs 1000 crore, despite having 11 back-to-back blockbusters at the box office. Despite making a massive profit of over Rs 1300 crore at the box office, the film industry suffered a major loss due to around 185 films failing to make it big at the box office. According to Kerala Film Chamber Secretary Saji Nanthyatt, only 22 of the 207 Malayalam films that hit the theatres in 2024 ended up making a profit.
Malayalam blockbusters of 2024
Among the Malayalam films which hit the theatres in 2024, Manjummel Boys, Aavesham, Aadujeevitham, Premalu, Bramayugam, Varshangalkku Shesham, Guruvayoorambala Nadayil, Ajayante Randam Moshanam, Turbo, Vaazha, and Kishkindha Kaandam, emerged as blockbusters. Among the Christmas releases, Marco is expected to earn the blockbuster status. As you may know, five films succeeded in crossing the Rs 100 crore mark at the box office. Abraham Ozler, Anweshippin Kandethum, Bougainvillea, Hello Mummy, Sookshmadarshini, and Pani also emerged as profitable for the producers.
The OTT and satellite rights crisis
According to the Kerala Film Chamber, the OTT and the satellite rights, the major source of income for the films, are no longer reliable. As many Malayalam actors and technicians suggested earlier, none of the major streaming platforms are ready to come on board for a Malayalam film until it proves its potential at the box officer (films like Tovino Thomas' Nadikar, are best examples). The satellite partners too, are following the same format these days, which makes it difficult for the small scale, independent films that get limited number of theater, make any profit.
The Kerala Film Chamber also points out that the whopping salaries of the actors, is a major issue faced by the producers, along with the increasing production cost. The producers suggests that the actors refuse to take a pay cut, even when things go wrong in the industry. The waves created by the Hema Commission report on Malayalam films, and changing audience perspectives are also blamed, for the disappointing performances of the Malayalam films, in 2024.