A recent example which drives home this point is the extraordinary performance of ‘Avengers: Infinity War‘, which released almost two weeks ago. The film has collected Rs 200 crore at the box office. One of the leading multiplexes Inox Leisure’s CEO Alok Tandon said, “Indians have a great appetite for Hollywood films.
Gross Box Office numbers for titles such as ‘The Fate of the Furious‘, ‘Jurassic World‘ or the recently released ‘Avengers: Infinity War’ are a testament that the industry is growing.” He adds, “The performance of Hollywood films was great last year and this year too, we have a phenomenal performance with ‘Black Panther‘ and ‘Avengers: Infinity War’ clocking in great numbers. In fact, Avengers has broken all records in advance booking and first day numbers for Inox in terms of Hollywood films released till date.”
In the present calendar year, films such as ‘Star Wars Anthology‘, ‘Jurassic World’, ‘Mission: Impossible – Fallout’, ‘Mowgli‘ and ‘Transformers‘ are expected to see record high box office collections. These films are either sequels or franchise, which have loyal fan following not only in India but also in the US.
Shailesh Kapoor, CEO, Ormax Media, a firm that specialises in trade insights, said, “Spectacle films are a unique proposition from the audience’s point of view. You would not enjoy them on smartphones or in a home theatre. They can only be enjoyed for the sheer familiarity of experience in dark theatres. Also spectacle films attract a complete family crowd which adds to their collections.”
According to Ormax Media, the box office collections of Hollywood in the opening weekends have been higher than mainstream Hindi films since the past five years. For the past five years, footfalls for Hindi films have stagnated and their collections are also not rising. Ormax India’s analysis points out that in 2017, box office of Hindi films dropped by 9.1% to Rs 2,525 crore in comparison with 2016.
In fact, the collection for 2017 has been the lowest for the past four years. On the other hand, box office collections have risen steadily to Rs 801 crore in 2017 from Rs 375 crore in 2013 for Hollywood films points out Ormax Media. Given the superior line-up of films, trade analysts foresee that for 2018 box office collections for Hollywood films would easily cross Rs 1,000 crore.