In South India, theatrical revenues would contribute to 60 per cent and non-theatrical rights, to 40 per cent, pre-Covid-19. This changed to 43 per cent for theatrical and 57 per cent for non-theatrical revenues in 2022. During the year, of the 1,691 films released in the country in 14 major languages, 916 films, or 54 per cent were released in South Indian languages.
“The market correction will happen in 2023 and then it is expected to grow well in 2024 on that corrected base. Overall, despite no biggies like RRR, KGF 2 or Kantara expected in 2023, the southern region is still expected to maintain its 2022 revenues in 2023 at around Rs 7800 crore,” said the report, titled ‘South India – Setting Benchmarks for the Nation’.
As per the report, India as a country has 8,700 screens as of 2022, and out of them, 4,216 screens, or 48 percent of the screens are in only five Southern states. “The potential is much higher as these 4,216 screens amount to 16 screens per million population. Even if the region achieves 20 screens per million population, the Southern region should reach 5,500 screens,” the report added.
It highlighted that if there is a concerted effort by the production teams involved, growth is a possibility, similar to how Team Hombale achieved with their films KGF 2 and Kantara and Team S.S. Rajamouli achieved with RRR. “When the market opportunity is available only for top actor’s big-budget films, a nativity-based, medium-budget film Kantara showed way for everyone that if there is strong content (even if it is nativity based), it can achieve a breakthrough and bring in massive revenues from across the country,” the report added.
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