2023: The good, the bad and the ugly

Cinema celebrates a revival but the media and entertainment business faces headwinds on other fronts

Indian cinema has bounced back. After three miserable years, theatrical revenues are at an all-time high. From Rs 11,500 crore in 2019 (the last normal year), gross theatrical revenue from films is set to cross Rs 13,000 crore in 2023. Going by Ormax Media data, the revenue was just under Rs 10,000 crore until October this year, without factoring in recent successes such as Sam Bahadur, 12th Fail, and Animal. Then, there are some big releases due this month. There is Salaar starring Prabhas and Dunki featuring Shah Rukh Khan, who’s on a winning streak this year with Pathaan and