The Indian box office in 2024 revealed a stark reality for both Bollywood and Hollywood, as both industries experienced significant declines. An analysis of the trends discussed in the report by Ormax Media revealed the rise of regional cinema as well as the South film industry's growing influence over Indian audiences.

In 2024, Bollywood's share fell to 40%, with collections falling 13% to Rs 4,679 crore, indicating an overreliance on blockbuster titles. Meanwhile, Hollywood's performance in India fell 17%, with collections totaling Rs 941 crore and footfalls dropping to their lowest level since 2015.

Despite strong performances by dubbed South Indian films, the sustainability of Bollywood's reliance on blockbusters remains a concern. While Hindi-dubbed versions of Allu Arjun's Pushpa 2: The Rule (Rs. 889 crore) and Prabhas' Kalki 2898 AD (Rs. 348 crore) soared, the only original Bollywood film that could keep up with this momentum was Stree 2 (Rs. 698 crore).

Hollywood's box office performance in India also took a hit, with collections falling by 17% to Rs. 941 crore and footfalls dropping to 3.8 crore, the lowest since 2015.

Franchise films like Deadpool & Wolverine (Rs. 178 crore) dominated the charts but failed to cross the Rs. 200 crore mark, reflecting Hollywood's dependence on established franchises and diminishing returns in the Indian market.

Malayalam cinema's unprecedented growth
Malayalam cinema achieved significant success, doubling its market share to 10% and surpassing the Rs. 1,000 crore mark for the first time. Notable films include Manjummel Boys (Rs. 157 crore) and Aavesham (Rs. 101 crore), which demonstrate the industry's ability to attract audiences in Tamil Nadu and Karnataka.