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Shah Rukh Khan-starrer Happy New Year has raked in Rs 44.97 crore on its first day, the highest for any Bollywood film. Until now, this position was held by Aamir Khan's 2013 release Dhoom 3, which had recorded Rs 33.42 crore.
Happy New Year's first-day collections are also the highest single-day collections for any film so far. This record too, was hitherto held by Dhoom 3, which had collected Rs 34.5 crore on the first Sunday after its release.
Happy New Year, directed by Farah Khan and produced by Red Chillies Entertainment, has been distributed worldwide by Yash Raj Films. The film was released in India on October 24 and in the traditional foreign markets of the UK, the US and West Asia on October 23. It saw the widest release for any Bollywood film, with about 6,000 screens worldwide, 4,800-5,000 in India.
The film has been released in Hindi, along with dubbed versions in Tamil and Telugu. It has been made with a budget of about Rs 150 crore (Rs 110 crore for production and Rs 40 crore for promotions and marketing).
"Considering the film is off to a great start, it is set to make some serious money; the producers should have nothing to worry about. Foreign collections are also expected to be healthy, considering SRK's popularity in the UK, the US and West Asia. Also, the movie's satellite rights are yet to be sold. So, more revenue will come from there," says an analyst.
The film's stellar opening has paved the way for good lifetime collections. By the first weekend, it is set to touch the Rs 100-crore mark in India alone. Experts say it will exceed the Rs 180-crore mark in the first week. Most pundits are betting on business of Rs 250-270 crore in India. Foreign collections and ancillary rights revenue will add to profits.
Suniel Wadhwa, independent distributor and box-office analyst, says, "Happy New Year is reigning supreme at the box office by scoring the biggest debut so far. Its success can be attributed to some smart choices by Red Chillies Entertainment's marketing department. The fact that the film was pitched on New Year instead of Diwali has been a great advantage."
He adds the title of the film isn't character-led; it focuses on every character, though Shah Rukh Khan has been the face of the campaign. While at about three hours, the length of the film could have been a deterrent, its wide release has allowed many screenings.
Analysts say despite the wide release, the film saw 70-80 per cent advance bookings across India. On Saturday, theatres across the country registered 80-90 per cent occupancy. Experts estimate second-day collections at Rs 38-40 crore.
Venky Mysore, chief executive of Red Chillies Entertainment, said, "We are delighted that the audience across India responded brilliantly and showed their support for a film that has been produced with a lot of passion and love."
Chief revenue officer Gaurav Verma said, "The partnership with Yash Raj Films in developing our distribution strategy has been excellent and has contributed to the record-breaking opening."
If Happy New Year crosses the Rs 300-crore mark, it will be the first film to do so. It will also break Aamir Khan's streak of recording new collection milestones: His 2008 film Ghajini was the first to record Rs 100 crore; 3 Idiots, which hit the screens a year later, recorded Rs 200 crore.
