Even as Bollywood faces the challenge of box office stagnation, 2015 & 2016 have seen Hollywood emerging as a strong opposition to Bollywood in India.
The chart below shows the year-on-year growth of footfalls for Bollywood and Hollywood films in the Indian market since 2013. In 2013, Hollywood commanded only 11% of the footfall share of the combined ‘Bollywood + Hollywood’ category. This share went up to 13% in 2014. But it is 2015 that emerged as the watershed year for Hollywood in India, with its share of footfalls jumping from 13% to 19%. In 2016, The Jungle Book propelled this share further to 20%.
20% footfall share may not seem very high. But the trajectory of growth of the Hollywood business is in sharp contrast to the stagnation of the Bollywood business, where footfalls have dropped 11% since 2013. Further, Hollywood films in India operate at 13% higher ticket price than Bollywood films. As a result, the revenue share is even higher than the footfalls share, at 22% in 2016.
With Hollywood film getting wider releases, including dubbed versions in Indian languages (only 55% of Hollywood’s box office revenue in India came from the English language versions, up from 35% in 2013), the Bollywood industry has to carefully watch how these numbers pan out in 2017.