By Himank Tripathi
Yes, you read it right. The good old days of putting the cash counter on fire are over and the Hindi film industry is now facing something no one imagined: The fear of missing out or FOMO. One of the most loved and admired industries in India where Khans and Kapoors were crazed and praised at the same time, is losing its glory, respect and most importantly, interest.
Sad but true:
Once dominating the entire universe of glitz and glamour, Hindi films are now driving a mere 15% of the revenues in the entertainment stream. Nearly 150 single screens are shutting down every year. The revenue Bollywood made in 2019 was around $550 million and in 2022, it will barely touch the $450 million threshold.
So what went wrong?
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The pandemic…duh:
The audience is now OTT addicted. From the current number of 350 million users to 500 million by 2023, the growth is imminent. They have a bigger canvas to explore more variety and enjoy the grand exposure. Now, they know it all. Hollywood, World Cinema, Documentaries, Web series, you name it and they have it. Furthermore, people are now cautious to spend 200 to 500 INR per ticket and INR 500 to 1000 over F&B when they go for a movie outing. They rather stick to streaming apps to watch anything but won’t do that when it comes to movie halls. Now, they are selective.
The lost magic of AK & AK:
There is this old saying that ‘your biggest strength is also your biggest weakness’ and two names, in particular, have proved it right:
AK & AK. Aamir Khan & Akshay Kumar.
Two names who have redefined the meaning of success and ruling the box office.
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Not anymore.
Aamir has failed to ignite any fire post the success of movies like Dangal (2016) and Secret Superstar (2017). Btw, it was his movie Ghajini that started the 100 crore club in Bollywood. A club that he is denied to enter now. Take a look at Akshay Kumar who has failed to make moolah post Good Newwz and except for Sooryavanshi (who worked mostly basis the pull factor of Rohit Shetty), all of his last seven movies vanished into thin air. Did someone say ‘lucky 7’?
Guess it is time we stop trusting the celebs and make ‘story’ the real hero!
Big daddies fall:
AK & AK is just one example when you begin identifying the key problems of the Bollywood or Hindi film industry. The pandemic has led to a scenario where movie halls are witnessing a dip of 30% in footfalls and now, the audience is looking for something more than star power or glamorous faces. This is where we see mega studios or production houses like Yash Raj Studios giving its fourth consecutive flop as Shamshera starring Ranbir Kapoor and Sanjay Dutt in pivotal roles.
Even the total box office collection of its last three movies: Bunty aur Bubli 2, Jayeshbhai Jordaar and Samrat Prithviraj failed to cross the 100-crore mark in total. The problem is the fake notion that you know it all and one man can take shots just like good old days. Well, you are seeing the results and it is not looking good at all.
South leads the way:
What started with Pushpa, followed by RRR, KGF 2 and Vikram. The phenomenon is still growing in fact, the Hindi box office collection of just three Southern movies: Pushpa, RRR & KGF 2 raked in more than INR 817 Crore whereas the five most successful Hindi movies managed to make little over INR 850 Crore proving the insane popularity of Southern movies over Bollywood. On average Indian film industry makes $2 billion every year and with the ongoing Southern Tsunami, Hindi movies will end up having a much smaller piece of this pie.
The missing piece…CONTENT!
Bollywood knows this fact very well and yet, fails to prioritise content over stardom, and marketing gimmicks. They fail to realise that in the end, content is the king and they have no other option but to bow down to the king and accept its supremacy. Those who realised the power of content managed to cash in at the box office. The Kashmir Files had no marketing gimmick and yet it became one of the most profitable movies of all time. Gangubai Kathiawadi where Alia Bhatt faced the backlash basis a nepotism facade made tonnes of money. This validates the supremacy of good content and that I believe will continue to get the love and attention of the audience.
A love that is beyond languages or platforms. That is the real cinema that the Hindi film industry must cherish, praise and embrace to gain its lost sheen.
(The author is an industry veteran in the field of communications & consumer tech and supremely passionate about the magic of cinema. Check out his passion @ bit.ly/3dZJqQD)
Views expressed are personal and do not reflect the official position or policy of the FinancialExpress.com.