Hollywood films struggle in India as Box Office drops by 17% in 2024: Report

Hollywood faced a significant downturn in India in 2024, with box office collections plummeting by 17% compared to the previous year. This marks the sharpest decline in a decade, underscoring a challenging period for international films in the Indian market.

A report by Ormax Media has stated that the number of cinema-goers for Hollywood films dwindled to a mere 3.8 crore, reflecting a notable drop in audience engagement. For the second year running, no Hollywood movie managed to cross the Rs 200 crore mark in gross earnings—a milestone previously considered achievable for major blockbusters. Only three films managed to breach the Rs 100 crore, highlighting the reduced traction of Hollywood’s offerings among Indian audiences.

A closer look at the top-performing films in 2024 reveals a continued reliance on franchise titles. All of the year’s Top 10 Hollywood releases in India were part of established series, which was an overdependence on pre-existing intellectual property. This pattern is similar to trends globally, where studios prioritise sequels, reboots, and spin-offs to draw in audiences. However, the strategy seems to be losing its edge, particularly in India, where newer and diverse storytelling might better capture audience interest.

Analysts attribute the decline to a variety of factors. Rising ticket prices, increased competition from regional and Bollywood films, and the growing appeal of direct-to-digital releases have all contributed to the slump. Additionally, the lack of universally appealing blockbusters, coupled with franchise fatigue, may have alienated a section of viewers who are seeking fresh cinematic experiences.

Despite the downturn, industry insiders remain optimistic about the potential for recovery. Upcoming releases in 2025, including some highly anticipated original titles and culturally resonant projects, could help reignite interest among Indian audiences. However, Hollywood may need to recalibrate its approach, focusing on offering a mix of franchise-driven content and innovative narratives to better cater to the evolving preferences of the Indian market. Hollywood studios need to reassess their strategies in India as it is one of the most diverse marketsthey can invest in.