Challenges in 2023: Only Four Out of 220 Malayalam Films Hit the Mark, Estimated Loss of Rs 300 Crore

The Malayalam film industry faced significant challenges in 2023, with only four films proving successful in theaters, while 12 others managed to break even through OTT releases. With around 220 Malayalam films released and a mere 16 achieving financial success, the Producers Association estimates a total loss of approximately Rs 300 crores by the end of the year.

The four films that found success in theaters were '2018', 'Kannur Squad', 'RDX', and 'Romancham'. B. Rakesh, Secretary of the Association, expressed concerns about the industry's performance, attributing the poor showing to factors such as high production costs, substantial remunerations, and unfavorable state government policies, including double taxation.

Rakesh highlighted the impact of increased shooting rates charged by the state government and emphasized that 90% of those entering the film industry were newcomers. The range of production costs varied widely, from Rs 10 lakh to Rs 10 crore.

Despite challenges, '2018', a film depicting the devastating floods in Kerala that occurred in 2018, emerged as the biggest grosser of the year. Superstar Mammootty had a successful run with 'Kannur Squad,' 'Kaathal,' and 'Nanpakal Nerathu Mayyakam.' Meanwhile, expectations for superstar Mohanlal were not fully met.

The industry faced losses not only financially but also mourned the passing of legendary actors such as Innocent, Mamu Koya, Poojapura Ravi, and Subi Suresh, along with acclaimed director Siddique in 2023.

(With Agency Inputs)