Why Is Filmmaking Not As Profitable As It Used To Be? Arjun Kapoor Explains

Rohit Shetty’s multi-starrer Singham Again is a box-office success at a time when there’s an undeniable crisis in Indian cinema, with several high-profile films missing the mark. In conversation with Anupama Chopra, Editor of The Hollywood Reporter India, actor Arjun Kapoor, who plays the film’s anti-hero Danger Lanka, shared his take on the current state of the industry.

“It’s in transition,” he said. “Pre-pandemic, there was a different mindset. People went to theatres to watch a film, so any film above average would earn a minimum value.” Now, however, the money in this business has reduced drastically because that sure-shot theatrical revenue, the minimum guarantee, has been lost, he added.

What scares Kapoor is that a film can either become a massive success or be wiped out completely. It’s a concern that stems from the rise of OTT platforms that have presented the audience with options. While viewers still enjoy the theatrical experience, the actor believes that they expect to see better-quality films. “A lot of films were churned out in 2019 because money was coming in. There was demand and supply,” he said. “But now, because of the way OTT platforms work, there's a lot of supply; it’s saturated and we’re not working on improving the quality.” He added that Hindi cinema, figuring out the differences between the OTT and theatrical audience, was still in a learning phase. However, screenwriting needs to improve, he said.

He does think there are exceptions to the rule, but that the Hindi film industry has largely become very clinical. “Business acumen has taken over the creative (side) and the audience doesn’t like that,” he said.

The actor also acknowledged the wave of regional cinema taking over. “Their process, accessibility and audience understanding is far greater because they deal with an audience that's very connected,” he said. He spoke about how the multiplex audience is different, using Vasan Bala film Jigra as an example. “Fans may love Alia Bhatt but may choose not to see her film if the reviews are not good.”

When Chopra pointed out the inherent negativity within the business, Kapoor said that there was a lack of appreciation for people who were doing well or trying different things. “The messiness comes from competition being created, which is not important. I’m sure when you post this interview, too, I must have said something that might make sense to you, but people will say whatever they want about it,” he added, pointing out that misunderstandings are inevitable.

Kapoor said the industry was trying. “We posture to the audience like we’ve got it all figured out and then eat humble pie!” he said, with a laugh. There’s always been a relationship of giving and taking with the audience, but there seems to be a disconnect at the moment, he said.

“We need to put in more time, effort and love. We must find the mainstream ethos again.” He, however, admitted that he’s not a know-it-all — “I figured out how to give a hit film only last Friday!” he said.

The rollercoaster nature of the industry is well known — actors who star in the year’s biggest hit films can very well be faced with a flop a few months later. “I think 2026 will be an important year, though. If we get a string of five to six good films, we’ll get into the momentum of making theatrically profitable films again,” said Kapoor.