Malayalam cinema faces Rs 700 crore loss in 2024 despite critical acclaim and blockbusters

The year 2024 has been quite unexpected for the movies. Big-budget movies starring big stars or superstars didn't work at the box office. While Bollywood saw a lot of losses, the Malayalam cinema flourished with several big hits. But what if we told you that despite the superhits and blockbusters like Premalu, Manjummel Boys, and several others? The film industry had suffered hundreds of crores of losses.

Malayalam Cinema faces major losses in 2024

As reported by several entertainment news portals, the Kerala Film Producers Association said in a statement that the film industry has suffered a 700 crore loss in 2024. Despite having big hits like Aavesham, Aadujeevitham, Premalu, Manjummel Boys, and others, the industry failed to recover its production cost. This year, the production cost went up to the Rs 1000 crore mark and only Rs 300 crore was recovered. Out of 199 Malayalam films, only 26 were successes this year.

The statement mentioned that the money was not recovered because the production cost went very up for movies and so did the actors' salaries. Even though some movies like Guruvayur Ambalanadayil, Kishkinda Kaandam, Varshangalkku Sesham, and others worked at the box office and entered the Rs 50 crore club, it didn't help in the overall recovery. The statement mentioned that re-releases like Manichitrathazhu and Devadoothan performed better.

Mohanlal made his director debut with Barroz this year and despite the hopes and buzz, it failed at the box office. Kerala Film Producers' Association wants to make sure the audiences flock to theatres, as that's what 2024 has to teach. The year showed that the audience doesn't care about the style, but content and the success of small-scale films prove the same.