IMAX India Box Office Plummets 36% in 2024: Hollywood Slump and Local Competition Bite

IMAX, the giant-screen cinema format, faced a significant setback in India as its box office revenue dropped by 36% in 2024. This decline comes amidst a broader struggle for Hollywood films in the country, with overall box office collections falling 17% compared to the previous year. The downturn is attributed to delayed Hollywood releases, rising ticket prices, and stiff competition from regional and Bollywood films. Despite the challenges, IMAX remains optimistic about the Indian market, targeting 150 screens in the coming years. However, the company faces hurdles in expanding its presence due to slow real estate development and limited mall launches.

Source: Moneycontrol