Theaters in Kerala are facing a growing crisis amid a string of flops at the box office from early 2023, according to an assessment by the Film Exhibitors United Organization of Kerala (FEUOK).
The increased building tax slab has come as a double whammy for the sector that employs around 12,000 workers. FEUK President K. Vijayakumar says that out of about 90 films released till the end of April, only one had clicked at the box office.
except the movie romance, no other film has made an impact. There have been instances where screening of films has been canceled after the first day due to low attendance. Around 75% of the releases since January had a similar fate,” he says.
Mr. Vijayakumar says the financial situation is going from bad to worse, as banks have attached the properties of five cinema halls for non-payment of loans. “Around 15 cinema halls are on the verge of being taken over by financial institutions. Around 25% of theater owners had outstanding bank loans,” he says.
Mr. Vijayakumar says that people are not coming to theaters unless the film demands an experience on the big screen. “The trend of preferring digital-first releases instead of theatrical releases, which was encouraged by a section of leading actors and producers in the time of the pandemic, has now turned against the industry,” he added.
FEUOK has urged the government to intervene immediately to resolve the crisis affecting the entire Malayalam film industry.