Bollywood at inflection point with low ratings
After decades of filmmaking, the hindi film industry, also known as bollywood, appears to be at a turning point unlike any other upheaval it has experienced. Since january 2021, 43 hindi films have received an average rating of just 5.9, far lower than the 7.3 rating of the 18 hindi dubbed films. According to a study by the Economic Research Department of the bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">state bank of india, a one-point increase in the IMDB rating results in an increase in revenue of Rs 17 crore. Single-screen theatre attendance has decreased, and movies are now released to multiplex audiences. The price of admission is 3x higher at multiplexes than at single-screen theatres. The hefty entertainment tax for hindi movies is another factor in the expensive ticket pricing.
It's interesting to note that 62% of single-screen theatres are located in South india, with North india accounting for only 16% and the West for 10% of all single-screen theatres. This may also be the cause of recent increases in local box office earnings for South indian films over bollywood films. The demographic makeup of the states may have an effect on moviegoers. Online platforms offer a variety of genres, including humour, drama, action, horror, and thriller. These platforms are more frequently used by millennials to view the genres they enjoy the most. Compared to North indian States, South indian States have a higher percentage of senior individuals who still prefer going to the movies rather than watching them online.
According to a survey by the state bank of India's Economic Research Department, more than 50% of individuals use OTTs for more than 5 hours per month, hence the surge in OTT is predicted to reduce moviegoers and movie theatre earnings. The conventional form of entertainment has been most negatively impacted by possibilities like Smart tv and Chromecast entering the picture. According to the report, these innovations have contributed to bringing the movie theatre experience home, delighting the viewers with what seems like an endless array of options.
The introduction of OTT (over-the-top), which accounts for 7-9% of the indian entertainment market and is constantly expanding with more than 40 players and offering original media content in all languages, has had a significant impact on the sector. In india, there are already 45 crore OTT users, and that number is projected to increase to 50 crore by the end of 2023.
It's interesting to note that 62% of single-screen theatres are located in South india, with North india accounting for only 16% and the West for 10% of all single-screen theatres. This may also be the cause of recent increases in local box office earnings for South indian films over bollywood films. The demographic makeup of the states may have an effect on moviegoers. Online platforms offer a variety of genres, including humour, drama, action, horror, and thriller. These platforms are more frequently used by millennials to view the genres they enjoy the most. Compared to North indian States, South indian States have a higher percentage of senior individuals who still prefer going to the movies rather than watching them online.
According to a survey by the state bank of India's Economic Research Department, more than 50% of individuals use OTTs for more than 5 hours per month, hence the surge in OTT is predicted to reduce moviegoers and movie theatre earnings. The conventional form of entertainment has been most negatively impacted by possibilities like Smart tv and Chromecast entering the picture. According to the report, these innovations have contributed to bringing the movie theatre experience home, delighting the viewers with what seems like an endless array of options.
The introduction of OTT (over-the-top), which accounts for 7-9% of the indian entertainment market and is constantly expanding with more than 40 players and offering original media content in all languages, has had a significant impact on the sector. In india, there are already 45 crore OTT users, and that number is projected to increase to 50 crore by the end of 2023.