Malayalam movie industry now faces a box office slump
RDX, 2018 and Romancham, there has been nothing of note this year, worrying filmmakers about the commercial viability of their projects. Unlike during the peak of the pandemic, streaming platforms also appear less inclined to spend freely to acquire Malayalam films, especially since there is no guarantee they will fetch viewers. This shift has put smaller films in a precarious position, many of which are bearing the brunt of other filmmakers demanding too much for what they consider viable projects.
It is common for Malayalam films to be made on budgets of ₹8-10 crore, and those deemed hits to earn ₹15-20 crore at the box office. “Audience tastes have changed drastically and like filmmakers in other languages and industries, there is a struggle to judge what may work with people here as well. Plus, what you may have thought would draw viewers a year ago, may not find the same appeal anymore," said Mukesh Mehta, founder of Malayalam film production and distribution company E4 Entertainment.
Other language films such as Pathaan (Hindi) and Jailer (Tamil) have worked well in Kerala as well, which shows there is an undeniable appetite for movies, Mehta said. Comparisons with other language industries do not bode well. Mehta said Hindi and Telugu films that often end up collecting upwards of ₹100 crore are not only eating into the business of Malayalam films, but also make the latter’s ₹3.5-4 crore earnings seem paltry.
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