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The COVID-19 pandemic drastically altered many aspects of life, including the entertainment industry. The way we consume content has shifted significantly, and so has the benchmark for success in the film industry. Before the pandemic, a film earning Rs 100 crore at the box office was a widely recognized indicator of massive success. However, in the post-pandemic era, the landscape has changed, and Rs 50 crore is now seen as the new standard for a box office hit.This shift reflects not just changes in viewing habits, but also the broader impact of digital platforms on the film industry.
The Pandemic’s Impact on Cinema
The pandemic years (2020-2022) were marked by lockdowns, restrictions, and a significant reduction in public gatherings. Cinema halls were closed for extended periods, and when they reopened, it was often with limited capacity, with fans avoiding leisure activities, and only stepping out for essential chores. This disruption fundamentally changed the way people consumed films. Many turned to streaming platforms, which saw a surge in subscriptions and viewership. OTT platforms became the primary source of entertainment, offering a wide variety of content at the click of a button. As a result, the weekend activity of going to the theater to watch a film diminished, and footfalls in cinemas dropped dramatically.
With the reduction in theater-going audiences, the traditional metrics of box office success had to be re-evaluated. Films that might have earned Rs 100 crore or more before the pandemic, were now struggling to reach those numbers. This was not necessarily a reflection of the film’s quality or popularity, but rather a consequence of the changed consumption patterns. Audiences were still watching movies, but many were doing so from the comfort of their homes.
The New Box Office Reality
In this new reality, the definition of box office success has been recalibrated. A film earning Rs 50 crore or more is now considered a significant achievement. The threshold for what is deemed a “hit” has effectively been halved, with 50 crore becoming the new 100 crore. This shift is not merely about numbers, but also about the changing dynamics of the film industry.
This recalibration does not imply that the industry is in decline. On the contrary, it highlights the adaptability of the industry and its ability to find new ways to measure success. While the box office numbers may be lower, other revenue streams have gained prominence, helping to balance the scales.
The Success Stories of Sub-100 Crore Films
Several films released post-pandemic have exemplified this new standard of success. For instance, 12th Fail, which earned Rs 56 crore, Chandu Champion with Rs 61.8 crore, and Bad Newz, which earned nearly Rs 65 crore,Madgaon Express collected Rs 35 crore and Kill minted Rs 24 crore are considered successful under the new metrics. Of course, there are always going to be exceptions like Shaitaan, Stree 2, Munjya and Kalki 2898 AD, which set new box office records.
These films (mentioned earlier) have been appreciated by audiences and critics alike, and their box office collections are seen as robust, despite falling short of the traditional Rs 100 crore benchmark. The industry now recognizes that earning in the range of Rs 50 crore to Rs 99 crore is a strong indicator of a film’s success, given the current market conditions.
The Changing Economics of Filmmaking
The downsizing of box office collections does not necessarily indicate a loss for filmmakers. In fact, many films continue to be profitable thanks to various revenue streams beyond the box office. Music rights, satellite rights, overseas rights, and now OTT rights contribute significantly to a film’s overall earnings. For filmmakers, the table profits were never solely dependent on box office numbers. The shift in audience behavior towards streaming platforms has only emphasized the importance of these additional revenue streams.
Akkshay Rathie, a prominent distributor and exhibitor, underscores this point by stating, “50 cr is the new 100 cr success benchmark at the box office. For makers, table profits were never an issue, thanks to the music rights/satellite rights/overseas rights, and now OTT rights. The power of cinema is massive, and will always stimulate audiences in theaters or home theaters.”
This sentiment is echoed by filmmakers who recognize the enduring appeal of cinema, regardless of where it is consumed. Vivek Agnihotri, director, points out, “Post-pandemic, there are various reasons due to which theaters witnessed less footfall. There is world content available on your TV screen, with various OTT platforms. Films are now in the range of 50-60 crores. More and more films are doing the same or less, even if they are good. The types of films which made 100 crores are now making 50-60 crores. Now 200-300-400 crore films is a difficult feat to achieve. Now it’s more of 50Cr as a reset BO club, even for good movies.”
The Role of Streaming Platforms
The rise of streaming platforms has undoubtedly played a crucial role in reshaping the film industry’s economic model. With more people opting to watch films on OTT platforms, the pressure on theatrical releases to perform exceptionally well at the box office has decreased. Films can now have a successful run on OTT platforms, often reaching a broader audience than they would have through a traditional theatrical release alone.
For many filmmakers, the OTT release has become an essential part of their distribution strategy. It offers a safety net for films that may not perform as expected at the box office, and provides an additional revenue stream. Moreover, the global reach of OTT platforms allows films to find audiences in regions where they might not have been released theatrically.
The New Normal for Box Office Collections
The current box office landscape reflects a new normal, where films are no longer judged solely by their ability to reach or exceed the Rs 100 crore mark. Instead, a more nuanced approach is taken, considering various factors such as the film’s budget, the marketing spend, and its overall reception by audiences and critics.
Atul Mohan, a senior trade analyst, shares, “Although we have been witnessing a major shift in the content consumption of the audience, making a film collect 50 Cr. is indeed a very simple task, than to stretch it to 100 Cr. Fortunately, 50 Cr. plus is accorded the same status & respect as an earlier 100 Cr. film, adhering to a decent Box office, satellite, OTT & audio + ancillaries.”
This shift also reflects the changing nature of film consumption, where audiences are more selective about the films they choose to watch in theaters. The communal experience of watching a film on the big screen remains significant, but it is now reserved for films that offer something unique or are seen as must-watch events.
The Future of Box Office Metrics
As the industry continues to evolve, so too will the metrics by which success is measured. The Rs 50 crore benchmark may continue to hold, or it may shift again as market conditions change. What is clear, however, is that the film industry is resilient and adaptable. It has found ways to thrive despite the challenges posed by the pandemic and the rise of digital platforms.
The success of a film is now viewed through a broader lens, taking into account its performance across various platforms and revenue streams. Box office numbers are just one piece of the puzzle, and while they remain important, they are no longer the sole determinant of a film’s success.
The shift in box office success metrics post-pandemic is a reflection of the broader changes in the film industry. With the reduction in theater-going audiences and the rise of streaming platforms, the traditional Rs 100 crore benchmark has given way to a new standard where Rs 50 crore is considered a significant achievement. This change is not an indication of decline, but rather an adaptation to the new realities of content consumption.
Filmmakers and industry professionals recognize that success is now measured in different ways, with box office numbers being just one factor amongst many. As the industry continues to adapt to these changes, it is likely that we will see further shifts in how success is defined and measured. For now, Rs 50 crore is the new Rs 100 crore, and it is a benchmark that reflects the current state of the industry while honoring the enduring appeal of cinema.
The Pandemic’s Impact on Cinema
The pandemic years (2020-2022) were marked by lockdowns, restrictions, and a significant reduction in public gatherings. Cinema halls were closed for extended periods, and when they reopened, it was often with limited capacity, with fans avoiding leisure activities, and only stepping out for essential chores. This disruption fundamentally changed the way people consumed films. Many turned to streaming platforms, which saw a surge in subscriptions and viewership. OTT platforms became the primary source of entertainment, offering a wide variety of content at the click of a button. As a result, the weekend activity of going to the theater to watch a film diminished, and footfalls in cinemas dropped dramatically.
With the reduction in theater-going audiences, the traditional metrics of box office success had to be re-evaluated. Films that might have earned Rs 100 crore or more before the pandemic, were now struggling to reach those numbers. This was not necessarily a reflection of the film’s quality or popularity, but rather a consequence of the changed consumption patterns. Audiences were still watching movies, but many were doing so from the comfort of their homes.
The New Box Office Reality
In this new reality, the definition of box office success has been recalibrated. A film earning Rs 50 crore or more is now considered a significant achievement. The threshold for what is deemed a “hit” has effectively been halved, with 50 crore becoming the new 100 crore. This shift is not merely about numbers, but also about the changing dynamics of the film industry.
This recalibration does not imply that the industry is in decline. On the contrary, it highlights the adaptability of the industry and its ability to find new ways to measure success. While the box office numbers may be lower, other revenue streams have gained prominence, helping to balance the scales.
The Success Stories of Sub-100 Crore Films
Several films released post-pandemic have exemplified this new standard of success. For instance, 12th Fail, which earned Rs 56 crore, Chandu Champion with Rs 61.8 crore, and Bad Newz, which earned nearly Rs 65 crore,Madgaon Express collected Rs 35 crore and Kill minted Rs 24 crore are considered successful under the new metrics. Of course, there are always going to be exceptions like Shaitaan, Stree 2, Munjya and Kalki 2898 AD, which set new box office records.
These films (mentioned earlier) have been appreciated by audiences and critics alike, and their box office collections are seen as robust, despite falling short of the traditional Rs 100 crore benchmark. The industry now recognizes that earning in the range of Rs 50 crore to Rs 99 crore is a strong indicator of a film’s success, given the current market conditions.
The Changing Economics of Filmmaking
The downsizing of box office collections does not necessarily indicate a loss for filmmakers. In fact, many films continue to be profitable thanks to various revenue streams beyond the box office. Music rights, satellite rights, overseas rights, and now OTT rights contribute significantly to a film’s overall earnings. For filmmakers, the table profits were never solely dependent on box office numbers. The shift in audience behavior towards streaming platforms has only emphasized the importance of these additional revenue streams.
Akkshay Rathie, a prominent distributor and exhibitor, underscores this point by stating, “50 cr is the new 100 cr success benchmark at the box office. For makers, table profits were never an issue, thanks to the music rights/satellite rights/overseas rights, and now OTT rights. The power of cinema is massive, and will always stimulate audiences in theaters or home theaters.”
This sentiment is echoed by filmmakers who recognize the enduring appeal of cinema, regardless of where it is consumed. Vivek Agnihotri, director, points out, “Post-pandemic, there are various reasons due to which theaters witnessed less footfall. There is world content available on your TV screen, with various OTT platforms. Films are now in the range of 50-60 crores. More and more films are doing the same or less, even if they are good. The types of films which made 100 crores are now making 50-60 crores. Now 200-300-400 crore films is a difficult feat to achieve. Now it’s more of 50Cr as a reset BO club, even for good movies.”
The Role of Streaming Platforms
The rise of streaming platforms has undoubtedly played a crucial role in reshaping the film industry’s economic model. With more people opting to watch films on OTT platforms, the pressure on theatrical releases to perform exceptionally well at the box office has decreased. Films can now have a successful run on OTT platforms, often reaching a broader audience than they would have through a traditional theatrical release alone.
For many filmmakers, the OTT release has become an essential part of their distribution strategy. It offers a safety net for films that may not perform as expected at the box office, and provides an additional revenue stream. Moreover, the global reach of OTT platforms allows films to find audiences in regions where they might not have been released theatrically.
The New Normal for Box Office Collections
The current box office landscape reflects a new normal, where films are no longer judged solely by their ability to reach or exceed the Rs 100 crore mark. Instead, a more nuanced approach is taken, considering various factors such as the film’s budget, the marketing spend, and its overall reception by audiences and critics.
Atul Mohan, a senior trade analyst, shares, “Although we have been witnessing a major shift in the content consumption of the audience, making a film collect 50 Cr. is indeed a very simple task, than to stretch it to 100 Cr. Fortunately, 50 Cr. plus is accorded the same status & respect as an earlier 100 Cr. film, adhering to a decent Box office, satellite, OTT & audio + ancillaries.”
This shift also reflects the changing nature of film consumption, where audiences are more selective about the films they choose to watch in theaters. The communal experience of watching a film on the big screen remains significant, but it is now reserved for films that offer something unique or are seen as must-watch events.
The Future of Box Office Metrics
As the industry continues to evolve, so too will the metrics by which success is measured. The Rs 50 crore benchmark may continue to hold, or it may shift again as market conditions change. What is clear, however, is that the film industry is resilient and adaptable. It has found ways to thrive despite the challenges posed by the pandemic and the rise of digital platforms.
The success of a film is now viewed through a broader lens, taking into account its performance across various platforms and revenue streams. Box office numbers are just one piece of the puzzle, and while they remain important, they are no longer the sole determinant of a film’s success.
The shift in box office success metrics post-pandemic is a reflection of the broader changes in the film industry. With the reduction in theater-going audiences and the rise of streaming platforms, the traditional Rs 100 crore benchmark has given way to a new standard where Rs 50 crore is considered a significant achievement. This change is not an indication of decline, but rather an adaptation to the new realities of content consumption.
Filmmakers and industry professionals recognize that success is now measured in different ways, with box office numbers being just one factor amongst many. As the industry continues to adapt to these changes, it is likely that we will see further shifts in how success is defined and measured. For now, Rs 50 crore is the new Rs 100 crore, and it is a benchmark that reflects the current state of the industry while honoring the enduring appeal of cinema.
