Indian films wait for overseas markets to revive
Overseas markets such as the United States, United Kingdom, Australia, and Malaysia, among others, that were essential for the business of Indian cinema including Hindi, Tamil and Telugu cinemas, have been far from promising after the resumption of functions.
According to trade experts, Telugu films like Allu Arjun’s Pushpa- The Rise: Part One did not deal with the kind of figures Baahubali: The Conclusion had, before the Covid-19 pandemic.
In its opening weekend in December, Pushpa had made around $1.05 million in the United States, while Baahubali had made $10.3 million when released in April 2017 in the United States. Akshay Kumar’s Sooryavanshi had managed $1.3 million over the Diwali weekend in November.
Market during the time of Covid-19
The market is affected not only abroad but also in the domestic market. The audiences have a variety of entertainment options available to them. According to the Ficci-EY media and entertainment industry report, in 2019, the overseas film shows had made Rs. 2,700 crores of the total of Rs. 19,100 crore made by filmed entertainment.
According to the mint, independent trade analyst Sreedhar Pillai said, “The numbers of Pushpa may be considered decent during the time of the Covid-19 pandemic, but they are nowhere near the pre-covid gold standards of Baahubali.” However, Pushpa becomes the highest-grossing Indian film of 2020-21.
Reportedly, about 60 per cent of overseas business for Tamil cinema comes from Malaysia. However, the market in Malaysia collapsed completely during the Covid-19 pandemic.
The Covid-19 pandemic has also been a major blow to the box office of Telugu cinema in the United States, which had seen a boom in the country post Baahubali release.
The highest-grossing movies at the Indian box office during the year 2021 are Pushpa: The Rise, Spider-man: No Way Home, and Sooryavanshi.