Mumbai: The mid-budget theatrical space is increasingly seeing signs of clear recovery. This is demonstrated in the box office performance of recent mid-budget films across languages.

Recent mid-budget films, such as Awarapan 2 (Hindi), DC (Tamil), and Chennai Love Story (Telugu), have each collected Rs 59-Rs 100 crore at the box office. These films have been made in the budget range of Rs. 15-50 crore,

This impressive box office yield, especially amid the stupendous and sweeping success of Hollywood spectacles or event films such as The Odyssey and Spider-Man: Brand New Day, has challenged the general assumption that audiences prefer to watch mid-budget films only on streaming platforms and not in theatres, the film fraternity told ET.

In the past few years, the mid-budget theatrical space has gradually turned into a risky bet as a category. High ticket prices, rapid acceptance of streaming platforms, increasing focus of streamers on profitability and costs, and a clear preference for big-budget films among streamers to boost their brand equity impacted the recovery of investments in mid-budget theatrical films.

Additionally, many mid-budget theatrical films have bombed, reducing audience interest in this space.

But recent successes show that audiences have not abandoned this space.

“A strong story, emotional connection, music, nostalgia and word-of-mouth can still turn a mid-budget film into a theatrical event,” said Suniel Wadhwa, co-founder & director, Karmic Films.

Historically, mid-budget films have always been realistic stories. Interestingly, after the pandemic, audiences have become more open to realistic stories than escapist fares, seasoned regional producers told ET.

“Usually, one would expect audiences to lap up light content, especially after a life-changing pandemic period. But the data shows that audiences have been liking horror and realistic content. Unlike in the past, today’s audiences want to watch realistic stories and not escape from them. And this expectation is being fulfilled by mid-budget films,” said Naveen Chandra, founder and CEO of 91 Film Studios, a company that produces, finances, and distributes regional films.

Also, high acceptance of streamers for entertainment has not necessarily killed appetite for mid-budget films. On the contrary, streamers’ content has raised audience tastes.

“Streamers have made audiences selective about mid-budget movies and not anti-theatrical,” said Shaaminder Malik, a film distributor and trade analyst.

Audiences, too, want community experiences outside their personal devices. This craving has brought about a certain openness toward genres and sizes of films. If they find a connection or reason for watching a film of any size through their social media networks, then they watch it.

“After almost indulgent content consumption on streamers during the pandemic and a few years after it, today’s audiences are experiencing a sense of fatigue about watching streaming content on devices. They are finding a sense of community in theatre visits and live events,” explained Girish Johar, producer and film business expert.

In the past few years, producers have been supporting the idea of high mid-budget films due to increasing uncertainty in box office performance of films.

“The future cannot be only about Rs. 300-500 crore spectacles. A Rs. 10-50 crore film that audiences turn into a Rs. 100-150 crore success is a more sustainable model,” said Wadhwa of Karmic Films.

Mumbai: Marvel Studios has staged a strong comeback at the Indian box office with Spider-Man: Brand New Day becoming the country's highest-opening Hollywood film.

The movie collected Rs 60.60 crore on its first day and recorded an average occupancy of 72.3% across India, according to Sacnilk, marking a sharp resurgence for the studio after several recent releases received mixed and modest response.

"The extraordinary response to Spider-Man shows that Marvel Studios' resurgence has truly begun. The film's first-day collection is around 60-70% higher than that of the previous Spider-Man film. This makes it a major win for both Sony and Marvel in India," said Kamal Gianchandani, chief business planning & strategy, programming, PVR INOX.

In the past seven years, barring long-established and familiar characters such as Spider-Man, Doctor Strange, and Thor, Marvel Studios' films featuring new characters from its cinematic universe have received a mixed or modest response in India. Films such as Eternals (2021) and The Marvels (2023) did not perform well, largely because of superhero fatigue among audiences and the swift introduction of new Marvel characters for which audiences were unprepared.

Among Marvel's characters, however, Spider-Man continues to be a dependable theatrical franchise for Sony Pictures.

"The film's success reflects the enduring appeal of Peter Parker as a character and demonstrates that when audiences connect with a compelling story and a cinematic experience, they show up in huge numbers in theatres," said Shony Panjikaran, general manager and head, Sony Pictures Releasing International, India.

Producers pointed out that the frenzy for the Spider-Man franchise among Indian audiences can be gauged from the significant contribution of its dubbed versions to the film's total India collection. They also pointed out that the opening day collection show there is no superhero fatigue among Indian audiences.

"This opening sends a strong message about Marvel's position in India. Audiences have not moved away from superhero cinema; they have simply become more selective,” said Suniel Wadhwa, co-founder & director, Karmic Films.

"Spider-Man today is a genuinely pan-India theatrical brand. Over 40% of its advance business comes from dubbed versions. When a globally loved character combines franchise equity, spectacle and true event value, Indian audiences continue to respond in extraordinary numbers. Brand New Day could well mark the beginning of fresh theatrical momentum for Marvel in India," added Wadhwa.

Another aspect that could serve as the foundation for a solid and successful second innings for Marvel Studios in India is the point at which the last Spider-Man film ended, distributors said.

"The ending of Spider-Man: No Way Home was not just a good ending for Peter Parker. It was a strategic reset that gave Marvel Studios enormous creative freedom and helped rebuild the Marvel Universe organically. Spider-Man is likely to provide Marvel Studios with fresh momentum and a breeding ground for new stories featuring familiar characters in India," said Shaaminder Malik, a film distributor and trade analyst.

Film trade analysts estimate that the film will easily surpass the previous instalment's India collection. Spider-Man: No Way Home, the previous film in the franchise, collected Rs 218 crore in India.

"The Spider-Man success is not happening by chance. It is part of a carefully planned strategy by both Sony and the Marvel team, with a fresh approach focused on stronger storytelling and its most-loved characters. I think the film will surpass the last Spider-Man movie's collection," said Girish Johar, producer and film business expert.

Mumbai: Hollywood’s tentpole films have steadily gained ground at the Indian box office over the past 18 months, a trend industry insiders expect to accelerate this month as a cluster of major releases arrives within a fortnight, boosting overall collections.

From superhero spectacle Spider-Man: Brand New Day and auteur-driven The Odyssey to kids and family entertainment Moana and horror genre Evil Dead Burn, Hollywood films offer exhibitors strong potential for robust collections in the coming weeks, exhibitors, film trade analysts and producers told ET.

“Hollywood has enjoyed a strong run in 2026, with films such as Obsession, Project Hail Mary and Michael, among others, reaffirming the strength of the English-language box office in India. The upcoming line-up is also remarkably diverse,” said Gautam Dutta, chief executive, revenue and operations at PVR Inox.

Diverse themes and audience segments are likely to play a pivotal role in the success of these event films, trade insiders said.

They foresee a highly favourable response, especially to Christopher Nolan’s The Odyssey and Spider-Man: Brand New Day, given their loyal fan bases.

“There is a large fan base for director Christopher Nolan, actor Tom Holland and Marvel films in India,” said producer Rajesh R Nair. “The success of Hollywood films over the past year has become even more visible because of the weak content coming from Hindi cinema. In July, these four films are likely to perform well as there is almost no competition, even from regional cinema,” he added.

According to trade sources, Spider-Man: Brand New Day has already generated pre-sales of Rs 5 crore in India, while The Odyssey has recorded pre-sales of around Rs 2 crore.

Distributors said the two films will be showcased extensively in premium-format screens, which is expected to further boost box-office collections in July.

“These Hollywood films will be released across premium large-format screens such as IMAX, ScreenX, 4DX and P[XL]. Ticket prices in these formats range from Rs 700 to Rs 3,300,” said Shaaminder Malik, distributor and film business expert.

“One must also bear in mind that they will be released in multiple Indian languages. Therefore, these global tentpole releases are likely to drive repeat visits to theatres, thereby boosting occupancy and collections.”

Film trade analysts estimate that, cumulatively, these four films could contribute close to Rs 400 crore to the Indian box office. They pointed out that a collection of Rs 20-30 crore is generally enough for a Hollywood film to be considered a hit in India.

“I expect The Odyssey and Spider-Man: Brand New Day to outperform the other Hollywood releases in the coming weeks. Both films can easily collect at least Rs 300 crore, given the high level of audience interest,” said Girish Johar, producer and film business expert.

Mumbai: Film narration in India’s entertainment industry has entered a new phase as producers in the Hindi film and some regional industries have begun using generative Artificial Intelligence (AI) while pitching their ideas to investors and distributors.

Increasingly, producers are creating AI-assisted trailers and, in some cases, even AI-assisted short films based on scripts to give a glimpse of the final product, as filmmaking costs rise and uncertainty over box-office performance increases, industry sources told ET.

“AI has completely changed how people present their ideas. Today, producers in the industry are creating AI-assisted trailers based on film scripts and explaining their films’ vision in a clearer manner,” said Akul Tripathi, filmmaker and former COO at IN10 Media Network. “These AI-generated trailers help financiers, actors, writers and other collaborators clearly understand a film’s idea and vision,” he added.

The ability to provide greater clarity on the look, tone and feel of a film has accelerated the practice of generating AI-assisted trailers and films, producers said.

“Earlier, there was no option but to sit through a film narration. Today, a studio like ours reads at least 300 screenplays in different languages. With the help of AI, one can turn a screenplay into storyboards and then storyboards into a fully visualized film. This makes it easier to judge a story, its look and even the budget before production,” explained Naveen Chandra, founder of 91 Film Studios that produces and distributes regional films.

“In Kerala, there are companies providing AI tools for creating AI-assisted trailers and AI-assisted feature films. In fact, producers in Kerala have been using AI tools to create AI-assisted feature films to show funders their vision for the film,” said a film distributor, requesting anonymity.

Even as a section of producers is using AI to make film pitches more effective, another section remains wary of using AI in film pitches. They are concerned that creating AI-assisted trailers and films could make their work vulnerable to intellectual property and copyright risks.

“There is a big challenge in making AI-assisted trailers or films from scripts. When one uploads a screenplay in an AI tool one is exposed to a risk of losing control of it. Scripts, storyboards, and AI-generated outputs can become available for others to copy or use to create their own works. Even if one pays to use an AI software, there is no guarantee one’s ideas are protected,” said Shaaminder Malik, distributor and film trade analyst.

However, high filmmaking costs and increasing uncertainty in predicting box-office performance have also contributed to accelerate this trend, producers said.

Also Read: Indian film studios are using AI to cut costs, speed production, despite mixed audience reactions

“Today, costs have risen across every stage of production. Theatrical performance has become increasingly unpredictable. Naturally, investors are asking more questions before financing projects. AI-generated pitch trailers and concept films have emerged as an effective solution because they help producers convert a written script into a visual experience,” explained Suniel Wadhwa, co-founder and director of Karmic Films.

“For many projects, spending a few lakhs on an AI-assisted proof of concept can significantly improve the chances of raising funds for a film worth several crores,” Wadhwa added.

Today, AI can create a two-hour visual version of a screenplay, producers said. Producers have been creating AI-assisted trailers (4–5 minutes long) based on film scripts. The cost of creating AI-assisted trailers and films primarily comprises AI software and manpower costs for generating prompts. The cost of creating an AI-assisted trailer based on a film script is less than Rs 5 lakh, producers said. The cost of generating an AI-assisted film, without original music and based on a film script, is Rs 70–80 lakh, they added.

Mumbai: Well-established heroines based in South Indian film industries with fan followings are being increasingly cast in mainstream Hindi films as Bollywood grapples with a thinning bench of bankable female stars.

Unlike in the past, when south-based actresses entered the Hindi film industry at a very early phase of their acting careers like Vyjayanthimala, Rekha and Hema Malini, in recent years, well-established south-based actresses such as Rashmika Mandanna (Cocktail 2, Animal), Sai Pallavi (Ek Din, Ramayana), Keerthy Suresh (Raftaar), Nayanthara (Jawan, a new untitled film with Salman Khan) and Pooja Hegde (Hai Jawani Toh Ishq Hona Hai) are filling the gap in mainstream heroines in Bollywood, producers, casting directors and distributors told ET.

In the past few years, the pool of dependable and well-established heroines has shrunk. This is a key reason why filmmakers are considering established south-based actresses, casting directors said.

“Today, the pool of established Hindi film heroines is relatively small. Also, accessing this pool can often be a lengthy and complicated process. In contrast, many south-based actresses are highly professional, approachable and easy to collaborate with. Even audiences enjoy seeing fresh on-screen pairings,” said Kunal M Shah, a casting director known for works such as Phule and Bhaukaal.

“For instance, the pairing of actor Salman Khan and actress Nayanthara in one of my upcoming films is creating buzz. Also, Bollywood filmmakers have a much wider and more exciting talent pool to choose from with south-based heroines in contention,” he explained.

“On the one hand, well-established Hindi film actresses such as Kareena Kapoor, Katrina Kaif, Deepika Padukone and Alia Bhatt are entering a different phase of their careers. On the other hand, the frequent failure of films featuring the new crop of very young actresses has proven that they lack striking talent. This has shrunk the pool of mainstream heroines in Bollywood,” observed Shaaminder Malik, a film distributor and trade analyst.

Also, economics favour casting well-established south-based actresses, producers said.

“Established south-based heroines have pan-India appeal thanks to their acceptance among non-south audiences through dubbed films. Casting these actresses in mainstream Bollywood films also boosts collections from their home territories,” said producer Vishesh Agrawal.

Producers also cited factors such as rootedness, freshness and the range of south-based heroines as reasons for their increasing presence in mainstream Bollywood films.

“Today, the industry is compelled to rethink the archetype of a mainstream Bollywood heroine. Audiences are demanding fresher, more rooted and more authentic female leads,” explained Suniel Wadhwa, co-founder and director of Karmic Films.

“Established south-based actresses have been successfully filling this gap with their range and suitability for both rural and urban roles,” he added. “For instance, Rashmika Mandanna looks suitable not only as a village woman in the Pushpa franchise films but also as an urban mainstream heroine in Cocktail 2,” he explained.

Though there is a shift towards casting established south-based heroines, casting directors bemoan the larger problem of a lack of interesting roles being written for heroines.

“Though there is no denying that the new crop of heroines in Bollywood either look very young or lack acting chops. Also, their exposure on social media is relatively higher than that of south-based heroines. But where are the interesting roles for heroines in today’s films?” said a casting director, requesting anonymity.

Mumbai: Film producers and distributors fear tighter release schedules and greater uncertainty after the Ministry of Information and Broadcasting discontinued the Central Board of Film Certification’s ‘Tatkal’ or priority certification scheme.

The withdrawal of the fast-track system – which allowed filmmakers to get CBFC certification within 10-15 days by paying a premium – from June 1 could aggravate delays in film clearances, already worsened by the abolition of the Film Certification Appellate Tribunal (FCAT) in 2021, industry executives said.

It could particularly affect multilingual releases, last-minute edits and films locked into fixed theatrical windows, while increasing legal and operational uncertainty for producers, they said.

“The impact will be felt most by independent producers and regional films, where production timelines are often compressed and release windows are highly competitive,” said Suniel Wadhwa, cofounder and director at Karmic Films.

Executives said the absence of both FCAT and the Tatkal route could slow dispute resolution, forcing producers into prolonged litigation and making release schedules harder to predict.

The ministry had floated a public consultation in February proposing discontinuation of the priority scheme before formally withdrawing it from June 1 through the notification of the Cinematograph (Certification) Amendment Rules, 2026, on May 20.

Some regional producers and industry veterans welcomed the move, saying the priority system had long disproportionately benefited large studios and influential production houses, often disrupting release plans of smaller producers who finalise theatrical windows months in advance.

“Situation becomes chaotic when big producers release films without advance communication,” said Naveen Chandra, founder of 91 Film Studios. “This disturbs the release schedule of films which have been planned months in advance.”

He said the growing volume of films requiring certification had made the priority system increasingly difficult to sustain.

“India’s long-term average suggests that nearly 1,800 films are produced annually across languages, amounting to almost five films a day. Besides this, there are festival films in sizeable numbers,” Chandra said. “It is not possible to physically watch films on a Tatkal basis and remain objective.”

Distributors highlighted practical challenges in certifying big-budget films, noting that Indian filmmakers, including big directors, often re-shoot and work on visual effects until just days before a film’s release.

“Unlike in the West, where studios plan films well in advance, one hardly sees big directors presenting full films to CBFC one month prior to release,” said Shaaminder Malik, film distributor and trade analyst.

The ministry, while proposing discontinuation of the scheme, had argued that routine use had diluted its intended purpose and created a “two-tier certification system” where applicants with deeper pockets secured faster clearances.

Government data tabled in parliament showed CBFC-certified theatrical films rose to 2,687 in FY25 from 2,031 in FY22. The ministry said average certification timelines for feature films currently stand at 18 working days against the prescribed 48 working days under the Cinematograph (Certification) Rules, 2024.

In the past two years, Bollywood production houses are increasingly diversifying into film distribution space. Though not unprecedented, a notable aspect of this shift is that today diversification into film distribution space has become a structural and survival imperative for production houses to deal with rising costs of filmmaking and grab larger share of revenues available across the value chain of filmmaking, producers, exhibitors and film marketing experts said.

Dharma Productions, and most recently Jio Studios, are the two prominent production houses that diversified into film distribution space in noteworthy manner in the last two years.

"Cost of making films has gone up due to the huge talent cost. Then, distributors are doing away with minimum guarantees (upfront cash) to producers. A combined effect of these is production houses venturing into distribution,” explained Suniel Wadhwa, co-founder & director, Karmic Films.

A key rationale behind production houses diversifying into distribution is to retain a larger share of revenues that a film can generate, noted established producers.

A key rationale behind production houses diversifying into distribution is to retain a larger share of revenues that a film can generate, noted established producers.

Functioning as distributors helps production houses reduce their dependence on sub-distributors, explained independent exhibitors.

"Production houses are going full throttle. They have set up offices in Bihar and West Bengal," said independent exhibitor Vishek Chauhan. “They are not dependent on sub-distributors. So, a distributor’s commission is their savings,” he explained.

Independent distributors earn 5-10% of revenues as commission income. “For instance, consider Dhurandhar. The film collected Rs. 1000 crore. And if a sub-distributor’s billing is Rs 450 crore, then 10% of it is Rs 45 crore. This is a huge number,” explained Chauhan.

Unfavourable experiences with studios have also contributed to this trend, noted producers. “There are studios who offer promotion, marketing and distribution to production houses for a fixed fee. These studios take a huge share of revenues earned through a film for the money they invest. This is in the range of 10-50% of box office revenues. This is a reason why production houses have diversified into distribution,” explained producer Rajesh R Nair.

Digitalization is another enabler for production houses to venture into distribution, explained distributors.

“Today, distribution is centralized, thanks to digitalization. One can keep a tab of everything sitting in Mumbai. Due to nuanced data, production houses have been able to negotiate with exhibitors on programming and revenue-sharing,” explained Shaaminder Malik, distributor and film trade analyst.

At present, apart from production houses, players such as AA Films, Pen Marudhar, YRF and PVR Inox distribute films.

In the long run, power dynamics in the distribution ecosystem is likely to shift in favour of multiplexes, said industry veterans.

“Today, multiplexes generate 70-75% of box office revenues. This shows their power in the entire distribution ecosystem. In the long run, the power dynamics will shift in favour of multiplexes,” said Neeraj Joshi, a film marketing and strategy consultant.

Rage-bait cinema — films which contain elements that spark polarizing debates on social media — is increasingly turning out to be an effective marketing tool in keeping a film alive in the public consciousness after it has resonated with audiences by providing incremental footfalls, said producers, veteran film marketing professionals, distributors and film trade analysts to ET.

Such films stay alive in public consciousness after release by fuelling online arguments, especially when makers tap into uncomfortable social truths that keep conversations active and extend box-office momentum, industry executives said.

“Today, 60% of cinema chains are concentrated in the NCR (National Capital Region) and Mumbai territories. This shows how important are these territories in terms of business. These territories have changed tremendously due to social media,” said Neeraj Joshi, a film marketing and strategy consultant. 

“Today, almost every action of people on social media is about performance and activism. So, makers consciously insert elements in their films which capitalize on uncomfortable truths and fault lines contained in the worldview or value system of audiences.”

Recently, the American romantic comedy film The Drama sparked heated debate on social media, with some viewers saying its gun activism theme felt completely out of place in a light-hearted film from the romance genre.

Such kind of insertions in plots works for both camps—the supporters and the protestors, said film marketing strategists.

“Online debates around films often serve as a marketing tool particularly for those films which aim to become a talking point. Virality generates both positive and negative perspectives, while also drawing fence-sitters to theatres, leading to incremental footfalls,” said Saurabh Varma, a veteran film marketing strategist.

“Additionally, through virality, makers aim to gain attention of streamers and film rights buyers who tend to favour films which achieve high visibility and engagement.”

Last year, the big-budget film Dhurandhar that released on December 5, collected Rs. 103 crore on its opening weekend, indicating that the film resonated with audiences. However, within a few days of its release, debates about its historical authenticity and whether it is a nationalistic or propagandist film emerged on social media. These debates piqued audience’s interest and provided incremental footfalls as in the second weekend — between December 12 and December 14 — the film collected Rs 140.5 crore.

Film trade analysts believe that social media debates can potentially transcend and become a 360-degree buzz if a film deeply resonates with audiences first.

“When a film resonates deeply with audiences, social media debates can become a 360-degree buzz covering radio, television and even newspapers. This provides incremental footfalls,’ noted producer and film business expert Girish Johar.

Producers acknowledge the growing importance of the audience in shaping narratives.

“Social media has become a battleground of identity, politics and morality. Today, audiences have a larger role than critics in shaping big narratives given the democratization of social media platforms. However, a social media debate alone cannot provide incremental footfalls to films which have not resonated with audiences,” observed Suniel Wadhwa, cofounder and director of Karmic Films.

Social media’s algorithmic structure also fuels and reinforces views and debates which trigger audience’s curiosity.

“We live in an age of algorithms which keep people in echo chambers. When films have morally ambiguous elements and when there is boycotting sentiment, usually, audiences become curious and go and watch films in theatres,” said Shaaminder Malik, a film distributor and trade analyst.

Mumbai: The pronounced and indisputable success of Dhurandhar franchise (original film’s worldwide collection: Rs. 1307.3 crore and sequel’s worldwide collection: Rs. 1006.5 crore, eight days) has set a new benchmark in filmmaking in in the Hindi film industry, triggering fresh discussions about revising, reviewing and doing away with old and verbose templates of filmmaking and focusing more on depth and authenticity than stardom, said producers, editors, trade analysts and distributors to ET.

“The Dhurandhar franchise is not a project put together by funding people. It is a triumph of a firm conviction and uncompromising intent of a director in achieving his personal creative vision. It has made mass cinema into event cinema and proved indisputably the importance of a director,” explained producer Rajesh R Nair.

“In recent years, a director’s role has been relegated to mere executor of scenes. This explains the intent of the makers. But the Dhurandhar franchise clearly scores well on intent as it breaks most established conventions of filmmaking,” he added.

Among the various departments, the film’s editing has set a new benchmark, shared editors. “After a long time, I have seen a film where a film’s editing is so clean. There are no loose ends. Necessary shots are preferred to good shots,” said Vaibhav Desai, a veteran editor.

“Using quick-cut transitions, events unfold rather than characters discussing how those events will unfold. This makes almost every scene engaging and pacy. So, the audience does not feel the film’s length,” he added.

Editors cite the quick-cut transition used in the beginning of Dhurandhar The Revenge. The audience is not shown why Ranveer Singh’s character needs an AK47 assault rifle, they pointed out.

The film’s bold and innovative use of music has also been lauded by distributors. “This may be perhaps the first mainstream Hindi film where a director has been so bold in the use of music including background. So many times, the music used is so contrasting and incongruous to the sentiment and mood of a scene,” noted distributor Shaaminder Malik.

“For instance, the use of the song Hum Pyaar Karne Waaley from the film Dil in the scene where Ranveer Singh’s character is abducted and produced before senior intelligence officers may seem risky. But it is the director’s conviction. Also, the use of original and vintage music has connected multi-generational viewers,” he added.

Even the film’s storytelling structure has been appreciated by producers. “The chapter-based narrative structure in the Dhurandhar franchise enhances its engagement and recall. This aids the film’s pacing. Also, it is in line with global viewing sensibilities of episodic storytelling,” explained Suniel Wadhwa, co-founder & director, Karmic Films.

Producers also acknowledged the depth in the film’s writing and clever use of contemporary history which matches the popular narrative.

“In the Dhurandhar franchise, even fictitious characters look real. There is authenticity in the presentation. There is also brilliant use of contemporary history to build a wonderful narrative of India’s resurgence in the films, which is lapped up by audiences,” shared producer Naveen Chandra.

Lastly, the film has also set a new benchmark in seamlessly blending genres without any special track for any one genre, observed producers.

“There are five genres in the Dhurandhar franchise: romance, patriotism, gangster, suspense and thriller. They blend seamlessly well without any genre overpowering This is an exception especially in Hindi films,” observed producer Ameya Naik.

Mumbai: Film producers are facing a mounting dilemma-rising costs of entourages accompanying stars. Such expenses have spiralled to about 10-12% of the total production cost of high mid-budget and big-budget films from the mid-single digits about a year and a half ago.

The drastic increase in budgets comes at a time when the industry is reeling from a volatile box office and few hits, with producers stating that the demands are becoming increasingly unreasonable.

Notably, the additional expense borne by producers often exceeds remuneration of key contributors such as cinematographers, writers, and even directors in some cases, according to producers and analysts.

"Historically, entourage costs were in the low single digits as a percentage of overall budgets," said Suniel Wadhwa, co-founder & director, Karmic Films. "In recent years, these costs have become double-digit figures in select projects. Today, a film requires an additional box office collection of Rs. 2-2.5 crore to recover a cost of Rs. 1 crore attached to it. This shows how high entourage costs impact its earnings."

Conservative estimates shared by executive producers and veteran producers with ET showed the percentage share of entourage costs in the total cost of producing a high mid-budget film — Rs. 80-100 crore, 70-day shoot — has surged to nearly to 10% in the past one and a half years. In the case of big-budget films — Rs. 100-200 crore, 120-day shoot — the share has jumped to 12% over the same period.

Producers attribute two key factors to this trend. “In the past one and a half years, heads of each overhead expense of some well-known talent have increased their fees,” said veteran producer Rajesh R Nair. “They have also employed more people in each overhead, thereby increasing entourage costs.”

Producers say there are at least a dozen overheads that make up entourage costs. Recently, content team comprising photographers and videographers for actors’ personal social media accounts have become part of entourage costs.

“Producers are catering to outrageous demands of actors,” said a veteran producer, requesting anonymity. “Actors want a meditation coach, life coach, and a companion (wife or a family member) on sets.”

“There is a finite universe of well-known actors and stars who can bring in audiences in theatres. So, producers give in. Also, betting on new faces is expensive given the high costs involved in making and marketing films,” the person said.

The rise of streaming platforms has also changed the dynamics of entourage costs, producers said.

“Before 2015, stars had a make-up artist, hair stylist and vanity van,” said distributor Shaaminder Malik. “Then streamers paid irrational prices for pre-release digital rights. These cash flows spoiled stars and mid-level actors. Producers gave in as digital rights revenues were assured cash flows.”

“But in the past two years, streamers have cut their budgets to focus on profitability. So, producers bear entourage costs today,” he added.

Another producer said actors’ demands have “become so specific and their attitude so stubborn that they are indulging in almost wild caprices.”

For instance, recently, a character actor who had worked for a few days brought a staff of seven people with him who also wanted to stay in the same hotel as the actor, said the producer, requesting anonymity.

Mumbai: After a string of underwhelming Bollywood sequels — War 2, Dhadak 2, Mastiii 4, Jolly LLB 3 and De De Pyaar De 2 — the industry is watching whether Dhurandhar 2 can buck the trend. Exhibitors and distributors are citing strong early demand that suggests the film could break the jinx at a time when Bollywood is grappling with box office volatility and old formulas that are no longer working.

According to film trade analysts, the film will release in India on 5,000–5,500 screens and is likely to record Rs 75-80 crore in collections on opening day, March 19.

Audience appetite has been whetted by the blockbuster success of espionage actioner Dhurandhar, directed by Aditya Dhar and starring Ranveer Singh, Akshaye Khanna, Sanjay Dutt and others. Released in 2025, Dhurandhar is one of the biggest films ever, having grossed Rs. 1005.8 crore in India alone and close to Rs. 300 crore in the overseas markets, according to box office data research firm Sacnilk.

In overseas markets, the sequel has generated advance or pre-release ticket sales worth $800,000.

“This is not an ordinary sequel. Audiences have already bought tickets worth more than Rs 5 crore for preview shows (March 18) alone,” said Shaaminder Malik, a film distributor and trade analyst. “They don’t want to know spoilers before their theatre experience. Tickets are being sold in a premium price range of Rs 300 to Rs 2,500 for a four-hour film. This shows the audience’s eagerness.”

Experts said Dhurandhar 2 is a proper tentpole release expected to drive significant box-office momentum.

“It is already reflected in its ticket sales,” said Gautam Dutta, CEO, revenue and operations, PVR Inox. “It will be the biggest release in terms of screens in India. In fact, a comforting factor is that the film has at least two weeks with no major release, which means the scope for record collections is high.”

Optimism about Dhurandhar 2’s performance increased recently with the release of Toxic: A Fairy Tale For Grown-Ups being delayed--it was to have debuted on the same day.

“The postponement of Toxic: A Fairy Tale For Grown-Ups has effectively cleared the competitive landscape for Dhurandhar 2,” said Suniel Wadhwa, co-founder and director, Karmic Films. “When two highly awaited big films don’t clash, exhibitors typically allocate 40–50% more premium screens and show slots to the releasing film, which can materially strengthen its opening-day collection. In theatrical economics, clashes create headlines, but clear release windows create box office records.”

Dhurandhar 2 will be dubbed in all four southern languages, unlike the original, which was released only in Hindi.

“The sequel is dubbed in multiple southern languages, which broadens its reach in the southern territories, thereby significantly boosting its India collections by at least 25–30%,” said producer Rajesh R Nair. Screen density, especially single-screen halls, and overall screen share (over 50%) in the southern markets is higher than in the rest of India.

Conservative estimates by trade analysts suggest the film could record an opening weekend collection of Rs 250-300 crore.

“In the absence of competition, I think the film’s collections could easily be boosted by at least 25%,” said Girish Johar, film producer and industry expert. “Given the high audience interest, I foresee an opening weekend collection of Rs 300 crore for the film.”

Mumbai: The release of at least five films in Hindi and southern languages scheduled for March has been postponed to avoid a clash with two big-budget movies that are set to hit the screens next month-Dhurandhar The Revenge and Toxic. These films include Sunny Deol's Gabru, Ram Charan's Peddi, Ayushmann Khuraana's Pati Patni Aur Woh Do and Adivi Sesh's Dacoit: A Love Story.

"The makers want to avoid competition given the high audience interest in Dhurandhar 2 and Toxic," said film distributor and trade analyst Shaaminder Malik.

Ranveer Singh's Dhurandhar 2 and Toxic starring Yash-both scheduled for release on March 19-are expected to draw huge audiences, trade experts said. This could cause fewer footfalls in theatres for other films.

"There is high audience interest for both films. They stand a fair chance of faring equally well," said Bhuvnesh Mendiratta, managing director at multiplex chain Miraj Cinemas. "Dhurandhar 2 is riding on the stupendous success of its original. Toxic is set to capitalize on actor's Yash stardom, his legacy of pan-India success and the film's genre itself."

These movies are also likely to benefit from the long festival weekend of Eid and Gudi Padwa, he said, predicting: "Cumulatively, these films could record net collecting amounting to at least Rs. 1,500 crore." Trade analysts do not foresee any negative impact of this clash on either film, citing instances of two big films releasing on the same day doing well.

"There are careful considerations behind these releases. I don't think Dhurandhar 2 will eat into Toxic's collections," said producer and film business expert Girish Johar.

Films like Gadar and Lagaan (2001), as well as Welcome and Taare Zameen Par (2007), which had been released on the same dates, had done equally well, he pointed out. "I estimate that cumulatively both films will collect Rs. 300 crore on the opening weekend itself. Even though both films belong to the same genre, I think the reasons to watch them in theatres are materially different," Johar said.

According to film trade analysts, Geetu Mohandas-directed Toxic is estimated to be made on a budget of Rs. 500-600 crore. A key reason for such a high budget is the makers have shot the film in Kannada and English, and dubbed it in Hindi, Telugu, Tamil and other languages, said exhibitors.

The combined budget of director Aditya Dhar's Dhurandhar and Dhurandhar 2 is estimated to be Rs. 350-400 crore, said trade analysts.

Though audience interest is high, exhibitors face the challenge of accommodating shows of both films in the first week. "Both films have strong distributors. Anil Thadani's AA Films, which will also distribute Ramayana, is distributing Toxic. PVR Inox will distribute Dhurandhar 2 in four major markets. Given these facts, exhibitors will face the challenge of accommodating shows of both films in the first week," said Malik, the film distributor and trade analyst.

"But by the second week it is the audience's preference which will dictate the programming clearly."

Mumbai: Men with dad bodies, crow feet and grey hair around balding pates are barrelling the cinema box office with gravitas, character and depth. They are also charging hefty premiums while crashing the youngsters' rave in cinema halls and OTT platforms. Films starring mature actors aged 50-70 have recorded impressive box-office collections across Hindi and southern cinema reflecting audiences' growing preference for acting skills and character depth over stardom hype and social media gimmicks, leading producers and distributors told ET. The "second innings" of these actors have turned the match.

In recent years, mature actors such as Sunny Deol (68), Chiranjeevi (70), Nandamuri Balakrishna (65), Venkatesh (65) and Akshaye Khanna (50) have either delivered solo hits or contribute meaningfully to noteworthy hits, giving a run for the money to younger peers.

Notably, these mature actors today are charging fees in the Rs. 15-50 crore range, considerably higher than Rs. 2-10 crore they charged at the prime of their careers, trade analysts said.

Films such as Border 2 (India collection: Rs. 335.7 crore), Dhurandhar (India collection: Rs. 1,004 crore), Mana Shankara Vara Prasad Garu (India collection: Rs. 245 crore), Daaku Maharaaj (India collection: Rs. 108 crore) and Sankranthiki Vasthunam (India collection: Rs. 225 crore) are prominent successes of these mature actors.

"It is impressive that films of mature actors are recording above Rs. 100 crore at the box office almost consistently. After Gadar 2 and Jaat, Sunny Deol delivered another winner in Border 2 at the age of 68 in today's highly unpredictable times," explained Shaaminder Malik, film distributor and trade analyst.

Producers attribute the captivating charisma of these long-established stars as a fundamental reason for their success.

"Across languages, actors in their 50s and above are delivering extraordinary performances. Films today demand larger-than-life, deeply rooted Indian characters. These mature actors who have distinct personalities are showcasing these elements with conviction and gravitas. Audiences are returning to theatres because these actors bring in certain authenticity," said Sunil Bohra, co-founder, Bohra Bros.

These actors have long-established connections with multiple generations of audiences, which works for them.

"These stars attract a wide and multi-generational audience. In a time when younger actors are over-exposed across platforms, the familiarity, trust and legacy of these mature stars work in their favour," shared Suniel Wadhwa, co-founder and director, Karmic Films.

He said that today's audiences are less focused on actors' age. They value depth of talent, presence, nuances, and suitability for roles.

Producers said that the emergence of credible larger-than-life stories such as Dhurandhar have worked in favour of these stars.

"The wave seems to have shifted from south to Hindi film industry. Directors in Hindi film industry are making credible larger-than-life films. These films are working as audiences are responding to them. These mature actors are talented. Today, the difference is they are getting the right roles which exploit their talent," explained producer Rajesh R Nair.

These stars' flexibility in accepting roles which are beyond their 'set image', opportunities from streaming platforms, and almost constant social media buzz around them have worked for these stars, producers said.

Mumbai: Bollywood's getting ready for a blockbuster year. Shah Rukh Khan, Salman Khan, Aamir Khan, Ajay Devgn, Sunny Deol, Ranbir Kapoor all have releases lined up, in what's going to be the most superstar-heavy lineup of films since before the pandemic. A broad range of big-budget Hindi titles are scheduled to hit theatres, complemented by a strong slate of regional movies and Hollywood offerings.

Down south, Rajnikanth, Vijay, Yash, Prabhas, and Kamal Haasan have movies coming up, apart from which Mammootty and Mohanlal will be seen together in a movie (Patriot) for the first time in 17 years.

Producers, distributors, and trade analysts are predicting a record haul, extending the buoyant momentum after a reassuring 2025. Net box office receipts may surge 25-30%, reaching Rs. 14,052 crore to Rs. 14,614 crore in 2026, from Rs. 11,242 crore last year, going by some of the more conservative estimates.

"2026 could be the year of highest box office collection for the Indian film industry," said Vikram Malhotra, founder and CEO, Abundantia Entertainment. "Beyond the conventional big-star films, 2026 will be about films which will connect deeply with audiences. I see sleeper hits become monsters at the box office. In addition, genre experiments will find takers."

A key reason for the industry optimism is the wide array of movies lined up this year. These include Ramayana, Love & War, Lahore 1947, King, Battle Of Galwan, Drishyam 3, Dhurandhar 2 and Border 2. Highly anticipated regional films include Jailer 2, Jana Nayagan, Toxic. Hollywood films such as The Odyssey, Dune: Part Three, Moana, Avengers: Doomsday, and Spider-Man: Brand New Day are also expected to boost box office receipts.

"Even by conservative estimates, the Indian box office collection may grow at least in the range of 25-30% in 2026 compared to 2025 because of diverse offerings across Hindi, regional and Hollywood," said Girish Johar, film producer and industry expert.

The number of superstar releases is another reason for the optimism. "2026 is indeed a big year," said Navin Shah, joint MD, EMC Solutions Worldwide, a leading company in branded entertainment. "It is important to note that most superstars such as Ranbir Kapoor, Shah Rukh Khan, Salman Khan, Aamir Khan, and Sunny Deol have either one or two releases in a single year. This is happening after a long time."

Trade analysts predict the share of Hindi films in net box office collection to climb to 45-50% this year, from a historical average of 35-40%. Premium ticket pricing will also drive growth.

"There is at least one notable film which is either VFX-driven spectacle or has a big superstar in every quarter of 2026," said Shaaminder Malik, film distributor and trade analyst. "This provides room for premium ticket pricing, especially for formats such as IMAX and 4DX, thereby boosting total box office collection."

Growing Gen Z attendance at movie theatres is also boosting industry confidence, said producers. "Apart from a fantastic lineup, a big positive for the industry is the theatre attendance of Gen Z audience, which increased by 25% in 2025. This trend is likely to continue in 2026," said Sunir Kheterpal, producer, Athena E&M.

Streaming platforms have begun to do away with a fixed base or floor price (a minimum guaranteed payment) for films underperforming in theatres and have reduced base prices by 25–50%, in a move that could bring greater transparency and create a level playing field in the sharing of risks associated with box office outcomes, veteran distributors, independent streaming consultants and producers told ET.

According to distributors and trade analysts, after Sikandar (Hindi) and Thug Life (Tamil), the latest film to see a reduction in its base price is Akhanda 2: Thaandavam (Telugu).

They said that Netflix revised the film’s base price downward by 25% to Rs 67.5 crore from Rs 90 crore after its underperformance in theatres.

“Today, streamers immediately revise a film’s base price if it underperforms in theatres,” explained Suniel Wadhwa, co-founder & director, Karmic Films. “Platforms now read theatrical performance as a sign of audience rejection or acceptance. Box office success is not a validation today but rather a risk filter,” added Wadhwa.

This move by streamers reflects their sharp focus on profitability after having paid irrational prices for films to expand their libraries, materially impacting their profitability.

Today, digital rights are the fundamental trigger for producers to start a film, as these rights provide 40–80% of total film income. Given this noteworthy contribution, streamers came up with slab-wise revenue payments, which meant that beyond a fixed base price (arrived at after considering the average performance of past films of actors and producers), a film gets an additional upside (bonus) of 10–15% for every box office collection milestone set by the platform and the producer.

“It is a fair deal. If makers get an upside, then they must be prepared for a downward revision of the base price if a film flops in theatres,” said veteran filmmaker Vipul Amritlal Shah.

Distributors said that this move by streamers has emerged from poor responses to underperforming films on their platforms.

“In a way, the downward revision of the base price from a fixed base price will keep in check tactics such as block booking of tickets or releasing films on streamers before the eight-week window to recover cash, as practiced by producers,” said film distributor and trade analyst Shaaminder Malik. “Also, flop films do not provide incremental subscribers to streamers,” added Malik.

Another reason for the downward revision in a film’s base price is the fall in streamers’ appetite for content after recent consolidation. Consequently, power has shifted from producers to streamers.

“After the recent consolidation, the appetite for content among streamers is not as high as it was three years ago. Today, they have more realistic criteria for buying films,” said Shrirang Nargund, an independent streaming consultant.

There is a section of producers that believes that if a streamer revises a film’s base price downward, it should not release the film on its platform before the eight-week window.

“If a streamer reduces a film’s base price, then it must not insist on releasing it on its platform before the eight-week window. They must allow a film to stay in theatres. It may contain losses. The idea is to buy the right film at the right price,” said producer Rajesh R. Nair.

Mumbai: The stupendous success of multi-starrer film Dhurandhar has not only spawned a new template but also rewritten the rules of crafting and presenting spy films in Bollywood, writers, producers, distributors and exhibitors told ET.

In just 13 days since its release, the film has collected Rs 437.25 crore (India net), according to box office research firm Sacnilk, translating into an average daily collection of Rs 33.6 crore. Mounted on a budget of Rs 250–350 crore for its two parts, according to trade analysts, Dhurandhar is currently the second highest-grossing film of 2025 after Chhaava, which collected Rs 716.9 crore in India.

A key factor behind Dhurandhar’s success is its clear departure from existing Hindi spy films.

“In Bollywood, spy films have often been cheaper and tackier versions of James Bond movies. The makers of Dhurandhar have consciously avoided that path. In doing so, they have rewritten the grammar of the spy genre in Bollywood,” said writer and investigative journalist Anirudhya Mitra.

“The film is mounted extremely well. Its sound, production design and cinematography make it a far more credible spy film. It almost feels like a Pakistani film with an Indian character—something audiences have not seen before,” he added.

According to the makers, the film’s detailed storytelling has resonated strongly with audiences.

“Today’s audience rejects lazy storytelling. They appreciate rigour in narratives and depth in character development. Dhurandhar recognizes this. It stays away from the usual Hindi spy trope of romance between agents from rival countries ending in a happy-ever-after,” said Jyoti Deshpande, president – Jio Studios (Media & Content Business at Reliance Industries), one of the film’s producers.

The film’s structure has also contributed significantly to its success, distributors said.

“It is a smartly made film. While the facts may not be entirely accurate, what truly works is its structure,” said distributor and trade analyst Shaaminder Malik.

Challenges such as shrinking attention spans and the lack of authenticity in contemporary films are addressed by presenting Dhurandhar's story as a series of interlinked short films and blending truth with fiction by selectively showing characters representing real people and fictionalising real people,” Malik added.

He said Dhurandhar’s director Aditya Dhar has also interwoven gangster-genre tropes with spy elements to create a fresh universe of larger-than-life characters.

“There is also a jingoistic flavour, which, though tempered, appeals to a section of audiences. These elements have found resonance across age groups,” said Malik.

Consequently, the film’s structure has triggered polarised but intense debates on social media, further fuelling audience curiosity and theatre footfalls.

Exhibitors have even introduced midnight and post-midnight shows, indicating sustained audience interest.

Acknowledging this trend, Gautam Dutta, CEO – revenue and operations at PVR INOX, said, “Dhurandhar has thrived on strong word-of-mouth, high social media engagement around its writing, performances and music, and sustained weekday box-office traction.”

At a time when box office performance has become increasingly hard to predict, the battle over pre-theatrical releases in the Hindi film industry has intensified, as major distributors use unfair tactics to limit smaller rivals from securing enough shows in single-screen theatres and multiplexes, trade analysts, producers and independent distributors told ET.

In recent months, reports of tussles over screen and show allocations have surfaced among distributors of major releases such as Coolie and War 2; Kantara: A Legend Chapter – 1 and Sunny Sanskari Ki Tulsi Kumari; and Thamma and Ek Deewane Ki Deewaniyat.

“Sharing of screens and shows on the release day between distributors of competing films has been a long-standing issue. However, of late, it has become too aggressive and ruthless. Today, big and established distributors make almost every possible effort to deprive relatively smaller distributors of competing films from getting a fair number of shows and screens,” said Rajesh R Nair, producer of Hindi films such as Kaminey and Adipurush.

One of the unfair tactics major distributors have reportedly used is threatening single-screen owners and key multiplexes to withhold their films, both current and upcoming, if they allocate shows to competing titles backed by smaller distributors.

“In recent months, industry insiders have shared that big distributors have been threatening single-screen theatre owners and multiplexes that they would not supply them current and future inventory of films if they allocate shows to distributors of competing films,” said film distributor and trade analyst Shaaminder Malik.

Big distributors, with their strong reputations and deep pockets, have the advantage of backing a steady pipeline of theatre-worthy films. These strengths give them an edge over mid- and small-sized distributors when negotiating the number of screens and shows with single-screen owners and multiplexes.

Industry estimates show India has more than 9,900 screens, 55-57% of which are single screens.

“Big distributors have been even stipulating the number of shows their films must get on the release date to theatre owners. All this is at the expense of competing films of relatively smaller distributors,” said Malik.

Industry observers said such tactics by major distributors reflect growing nervousness about how their films will be received.

“Each story is different and appeals to a different audience, so in a sense it’s not a competition. Unjust tactics by big distributors to thwart relatively smaller distributors of competing films from getting sufficient screens and shows on the release day reflects their lack of confidence in the films they are backing,” said Bibhabari Rath Assudani, founder, Motion Mind Ventures, a company that helps filmmakers in critical stages of film-making such as financing and distribution.

Experts, however, pointed out that such tactics offer no long-term advantage, as exhibitors typically adjust show schedules after the opening weekend in favour of films that draw stronger audience interest.

“Ultimately, these tactics of big distributors are short-term strategies. After the opening weekend, only the film which has received high audience preference wins irrespective of the fact whether it is backed by a big or small distributor. Exhibitors promptly change the programming of shows in favour of films preferred by audiences given the capital-intensive nature of the business,” explained producer Rajesh R Nair.

Agreeing with Nair, Suniel Wadhwa, co-founder & Director, Karmic Films shared, “Multiplexes are far more data-driven now. By Sunday of an opening weekend of releases, show allocations automatically tilt toward the film that holds occupancy and momentum. In that sense, market correction plays a critical role in which film will get more shows after the opening weekend of releases.”

Mumbai: Increasing frequency of introducing 'buy one get one' (BOGO) offer on movie tickets, either in the opening weekend or on the opening day of a film's release rather than much later is proving to be counterproductive for producers as audiences are perceiving this tactic as the last resort to deal with low audience interest and boost collections of bad films, said film trade analysts, producers and distributors.

Recently, the makers of Hindi films such as Tanvi The Great, Baaghi 4, Ek Chatur Naar, and Heer Express announced BOGO offers on the opening day itself.

"BOGO ticket offers either on the opening day, or weekend have become a new trend in recent months," said Shaaminder Malik, a film distributor and trade analyst. "Earlier, makers would wait for at least two weeks and introduce BOGO offers on tickets to sustain momentum in collections of films which have already clicked with audiences," he added.

BOGO offer on film tickets first began with the rationale of making incremental collections on films which have already worked with audiences. Producers could afford to give BOGO offers of such films since the box office collections had already surpassed their estimates in the initial weeks. They would, therefore, launch a BOGO offer much after a film is released in theatres.

For instance, the makers of the film Gadar 2, which received a tremendous response from audiences, introduced a BOGO offer only in the third week of its release. For such films, a BOGO offer helps to boost ticket sales by 10-20%, said trade analysts. It also allows makers of mid-and-small-sized films to attract audiences to theatres. A pitfall of this practice is producers lose money when films fail to provide high incremental collections post the offer as they pay for the free tickets. Exhibitors' share in collections, however, remains intact.

"The general understanding of BOGO offers is that one gets a ticket free on buying a ticket. But this is a marketing thing. In real terms, one gets a discount of a certain amount on a ticket which is capped and borne by a producer," explained Suniel Wadhwa, co-founder and director at Karmic Films.

"These campaigns are tactical marketing spending to build momentum in footfalls. But they can never be a substitute for organic success of films."

Largely, producers have not gained from these marketing initiatives if one considers the performance of recent films. Even after the BOGO offer, Baaghi 4, which released on September 5, collected Rs. 47.5 crore compared to Rs. 72 crore by the English film, The Conjuring: Last Rites, which released on the same date.

"BOGO offers are so excessively used that they have a negative effect. Today, audiences interpret a BOGO offer as an indication that a film is not good. So, it is backfiring," said Girish Johar, producer and film business expert.

Though producers are resorting to BOGO offers, besides getting high-value deals from streamers and satellite channels, these entities have become stricter in buying films at irrational prices from producers.

An increasing number of southern language films dubbed in Hindi have failed to attract a favourable response in the past six months, thanks to limited or no marketing, lack of stories containing universal values and stylish larger-than-life characters, a small four-week window in theatres, and ineffective branding through the deliberate casting of prominent actors from across India.

The recent washout performance of the Hindi-dubbed version of the Tamil film Thug Life points is the latest example.

According to box office research firm Sacnilk, Thug Life collected 1.2 crore in Hindi over the past three days, while the Tamil version earned 26.08 crore in the same period. Apart from Thug Life, dubbed Hindi films such as Retro, HIT: The Third Case and Kanguva have not worked.

Producers believe that the increasing tendency among southern filmmakers to promote films as pan-India offerings is a key reason for their failure.

"A pan-India film is a myth. Deliberately casting actors from different states does not make a southern film pan-India. The Hindi belt audience just wants a good, entertaining film. A good film dubbed in as many languages as you want will work," said Naveen Chandra, founder and CEO of 91 Film Studios, a studio that produces, finances, and distributes regional films.

He cites 'Pushpa 2' and 'Kalki 2898 AD' as examples of films that found a strong audience in the Hindi belt. "In Pushpa 2 – The Rule, the story has not progressed at all. The cop has not caught the criminal. There is a continuous chase. Yet, the film has worked. This is because almost every scene in the film is entertaining. And the Hindi belt audience has loved it," said Chandra.

Pushpa 2 – The Rule was released in December last year. It collected Rs 812 crore in the dubbed Hindi version alone-much higher than the film's collection in its original Telugu, which was Rs 341.4 crore.

Another reason Hindi-dubbed versions are failing at the box office is their storytelling. "The Hindi belt audience is not interested in stars. They are interested in stories that contain universal values, stylish larger-than-life characters, and a high dose of escapism. Of late, however, southern films have been more realistic, with little escapism. Hence, they are not travelling beyond their home states," said Shaaminder Malik, a film distributor and trade analyst.

According to a report by media and entertainment research firm Ormax Media, in 2024, dubbed Hindi films contributed 31% to the total Hindi box office, highlighting the dominance of southern films. But this contribution is likely to drop in 2025.

Limited marketing and promotion, along with a four-week theatrical window, have also contributed to the failure of Hindi-dubbed films. "Of late, a dubbed Hindi film is either not marketed or not well enough. Audiences in the Hindi belt are not aware of these films. Importantly, most southern films stay in theatres for only four weeks before being released to streamers. So, the potential of these films is not fully exploited by Hindi belt audiences," said Suniel Wadhwa, a veteran film distributor.

Mumbai: The military conflict between India and Pakistan seems to have had an unproportionate impact on the Hindi film industry, with many filmmakers delaying promotional and marketing activities, and postponing, or even shelving, film and trailer launches.

The industry is staring at an estimated or potential loss of Rs, 150-200 crore in the form of cost of capital and deferred revenues due to this, according to producers and trade analysts.

"In these times of geopolitical unrest, cinema pauses not from the lack of creativity but from caution," said Suniel Wadhwa, a veteran film distributor and co-founder and director at Karmic Films.

"There are losses in the form of delayed cash, sunk costs, interest on idle capital, broken contracts, and missed momentum. These will have a ripple impact on producers, promotional and advertising agencies, theatres, financiers, and even streamers," he said.

"I think more than Rs. 700-800-crore worth of Hindi films stand vulnerable at this stage," Wadhwa said.

To be sure, there has already been a sense of uncertainty around theatre attendance in the industry, fuelled by a series of box-office flops and an overall decline in collections in recent months, largely due to shifting audience preferences.

The launch of Operation Sindoor, targeting terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7, and the subsequent military conflict further dampened the mood among producers of several Hindi films slated for release in May and June.

Makers of Kesari Veer and Housefull 5 stalled promotional activities, while those behind Sitaare Zameen Par and Thug Life postponed the releases of their trailer and audio soundtrack, respectively. Producers of mid-budget film Bhul Chuk Maaf opted to forego theatre release entirely and instead debut the film on a streaming platform.

Some veteran trade analysts attributed a part of such actions to low confidence among producers. "Even though one cannot rule out the impact of Indo-Pak conflict on cinema, one also has to consider that a big reason behind delaying releases is low confidence of producers to release films in theatres due to increasing unpredictability in theatrical performance of films," said Shaaminder Malik, a film distributor and trade analyst.

"Consequently, there are makers of upcoming big-budget films who are planning to release their films directly on streamers after their teasers and trailers received unfavourable response," he added.

Meanwhile, production of the sequel of the film Sanam Teri Kasam, which performed well on its re-release recently, may get delayed because the main actor has declined to work with the main actress because she is from Pakistan.

Some industry insiders believe the impact would be minimal as the border tensions have eased and life has returned to normal in most of the country since India and Pakistan agreed to stop military action on Saturday.

"I think films scheduled to release in May will be impacted. But releases in June will not be impacted that much," producer Rajesh R Nair said. "But I think Hollywood releases in May will be a saving grace as these franchise films have a huge following in India and their makers are not postponing their release."