South Indian Cinema Industry’s Revenue Growth To Be Flat In 2023: CII

A report by Confederation of Indian Industry (CII) forecasts that the revenue generated by the South Indian Cinema industry would largely remain flat at Rs 7,763 crore in 2023.

In the absence of any Pan-India movie hits, the CII report predicts that revenues from the South Indian cinema industry could dip by 1 per cent in 2023 from Rs 7,836 crore in 2022.

During 2023, the report predicts revenues from the Tamil movies to be up 15 per cent from Rs 2,950 crore in 2022 to Rs 3,400 crore, while the revenues generated by Telugu movies are expected to grow marginally by 5 per cent from Rs 2,500 crore in 2022 to Rs 2,630 crore in 2023.

Meanwhile, revenues earned by Malayalam movies in the present year is expected to grow 11 per cent from Rs 816 crore to Rs 908 crore.

But the revenue prediction for Kannada movies remains grim in 2023 as the CII report anticipates it to drop drastically from Rs 1,570 crore in 2022 to Rs 825 crore in 2023. This near 50 per cent drop in revenue is expected due to the absence of mega-hits with Pan-India appeal such as KGF 2 or Kantara.

“The market correction will happen in 2023 and then it is expected to grow well in 2024 on that corrected base,” the report mentioned.

The CII report also noted that the Kannada cinema industry can be classified into two eras: pre-KGF-2 and post-KGF-2. “The year 2022 will also be regarded as the golden year for Kannada cinema with KGF-2 and Kantara making the nation celebrate Kannada cinema.”

Big releases in 2022 including KGF-2, Kantara, Charlie and 777 pushed the Kannada cinema industry to triple in size. The industry recorded Rs 1,570 crore in net revenue in 2022.

While the numbers for the Kannada cinema industry are expected to nosedive in 2023, the report surmised that overall movie revenues from the Southern region would still stick close to 2022 numbers despite no planned large, Pan-India releases this year.  

Also Read: South Indian Cinema Clocked Rs 7,800 Cr In 2022, 52% Of Total Indian Cinema Revenues: CII