Among the film revenue streams for the four languages combined, the biggest chunk is from local theatrical revenues, which account for $346 million, followed by digital/streaming rights with $224 million and satellite rights with $161 million. Tellingly, at a time when south Indian films are increasingly, dubbing rights for Hindi and other north Indian languages account for a hefty $135 million in revenues. Overseas theatrical and music rights account for the rest.
However, the report strikes a note of caution when it comes to the revenue forecast for 2023. While the Tamil, Telugu and Malayalam-language markets are projected to grow by 15%, 5% and 11% respectively, the Kannada-language market is expected to shrink 47% as potential blockbusters like “K.G.F: Chapter 2” or “Kantara” are not expected this year. Thus a 1% overall shrinkage in forecast for the film market is projected with revenues at $946 million in 2023.
The report records the total number of cinema screens in India as 8,700, of which south India has 4,216 or 48%. Of these, 3,078 are single screens and 1,138 are in multiplexes. In the streaming space, the report cites numbers from media analyst Ormax and says there is 36% penetration, meaning that there is an audience of 105 million in south India, and this is projected to grow 18% in 2023. The forecast for streaming revenues is $487 million in 2023.
“As outlined in this report, South India’s M&E sector is poised for big growth with four regional language film industries setting new benchmarks for growth,” said producer T.G. Thyagarajan who also serves as chair of the media and entertainment task force for the CII southern region.