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12K Crore: A new record at the India box office

12K Crore: A new record at the India box office

12K Crore: A new record at the India box office

With gross box office of ₹12,226 Crore, 2023 emerged as the best-year ever at the India box office, surpassing the previous record of ₹10,948 Crore in 2019
Published on January 22, 2024   •   3 mins read
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By Our Insights Desk

Summary
  • With gross box office of ₹12,226 Cr, 2023 became the first-ever year to cross ₹12,000 Cr mark at the India box office, surpassing 2019 (₹10,948 Cr)
  • Hindi cinema also saw its best-ever year, with a gross box office of ₹5,380 Cr, crossing the ₹5,000 Cr mark for the first time. Hindi cinema’s box office share (44%) reached the pre-pandemic level of 44%, up from 33% in 2022
  • While Tamil & Telugu languages held on to their share, Hollywood & Kannada cinema lost their share compared to 2022, moving down from 12% to 9%, and 8% to 3%, respectively
  • Although most language industries (except Hindi) struggled to hold on their 2022 performance (Tamil & Telugu showed growth of 14% & 6% respectively), Punjabi cinema resurged in 2023, with 60% growth in box office over 2022
  • While more than 1,000 films released in the year 2023, just the top 10 films contributed 40% of the year’s total box office. Jawan was the highest-grossing film of 2023, with gross box office of ₹734 Cr

After two challenging years, in 2020 and 2021, and a respectable recovery year in 2022 (with box office collections of ₹10,637 Crore, finishing only a fraction behind 2019), there were a lot of expectations as well as uncertainty regarding the future of Indian cinema in 2023. The rise of streaming platforms, and sub-par collections of Hindi cinema in 2022, added fuel to the uncertainty going into 2023.

But since then, the future of Indian cinema has looked progressively brighter, with 2023 emerging as the best-year ever for the India box office, with collections of ₹12,226 Cr, comfortably surpassing 2019 (₹10,948 Cr). In the process, it also becomes the first-ever year to cross ₹12,000 Cr mark.

Hindi cinema also saw its best-ever year, with a gross box office of ₹5,380 Cr, crossing the ₹5,000 Cr mark for the first time. The top four films of 2023 in India are all original Hindi language films, i.e., Jawan, Animal, Pathaan and Gadar 2. These films individually crossed the ₹600 Cr gross mark. Salaar: Part 1 - Ceasefire, Jailer, and Leo were the other three films to cross ₹400 Cr mark at the India box office.

2023 registered 94.3 Cr (943 Million) footfalls, a growth of only 6% over 2022. Footfalls remain below the pre-pandemic level of 103.0 Cr in 2019. However, the Average Ticket Price (ATP) grew by 9% vis-à-vis 2022, from ₹119 to ₹130. This growth is primarily an outcome of the increase in box office contribution of Hindi cinema (44%, up from 33% in 2022), which operates at higher ATP compared to the South language industries.

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