In the year 2025, the earnings of Indian cinemas created a new record. The total box office business across the country was more than Rs 13,395 crore. It is expected to cross Rs 15 thousand crore by the end of 2026.
But how does the model of film production and marketing work in Hindi cinema? What are the difficulties facing the film industry today?
If we look at the tremendous box office earnings of the year 2025 and the year 2026 till October, the Hindi film industry has come out of the slowdown after the Covid-19 pandemic to a great extent.
But how is a film made? Into which parts is its budget divided? What is the mathematics of every film's earnings? How is a film decided a hit or a flop? Do social media promotions and reviews help in increasing a film's earnings at the box office?
To know the answers to these questions, we talked to trade analyst Taran Adarsh, cinema operators Raj Bansal and Akshay Rathi, producers Kumar Mangat Pathak and Anupriya Nagar.
The highest-grossing Hindi films of 2025 and 2026 were dominated by big sequels and star-studded action films.
Among these, 'Dhurandhar: The Revenge' earned Rs 1,848 crore, 'Dhurandhar' earned Rs 1,350 crore, 'Chaava' earned Rs 809 crore, 'Sayara' earned Rs 579 crore worldwide and 'Border 2' earned Rs 464 crore.
'Drishyam 3' released this year has so far earned Rs 490 crore and 'Hanuman Ansh' has earned Rs 435 crore.
At the same time, films like 'War 2', 'Sikander', 'Son of Sardar 2', 'Toxic' and 'Bantwara' disappointed a lot.
Trade analyst Taran Adarsh says, "If a distributor has bought a film for Rs 10 and after paying government tax, theater rent and other expenses, he gets Rs 10 in his hands, then his cost is covered."
"After this, commission comes on the amount above Rs 10 or 11. It could be 15 or 20 percent and depends on the terms of the agreement with the manufacturer."
He says, "If a film is bought for Rs 10 and it does business of Rs 12.5, it means your commission is lost. After this the profit starts."
"In some agreements, this profit is divided half between the manufacturer and the distributor. It depends on the agreement between them."
According to Taran Adarsh, the rights to show the film abroad are sold at the very beginning or the film is released on commission basis. 40 percent of the total earnings are received in foreign countries.
Regarding the films released between April 2025 and March 2026, Taran Adarsh says that 'Chhaava', 'Sayara', 'Border 2', 'Dhurandhar' and 'Dhurandhar: The Revenge' are "real blockbusters".
He says, "Unfortunately we have to use the word 'actual' because sometimes producers exaggerate the box office earnings of their films."
"The kind of business that 'Dhurandhar' did with its sequels changed the game. 'Chaava' got a great opening. 'Sayara' came at a time when people were very doubtful whether love stories could even work anymore."
Taran Adarsh says that love stories with new faces have been superhit earlier also. These include films like Rishi Kapoor's 'Bobby' and Kumar Gaurav's 'Love Story'.
According to him, 'Border 2' benefited from its brand value, the popularity of Sunny Deol and the franchise.
Taran Adarsh says, "Today when the audience goes to watch a film, entertainment is most important for them. The audience wants a complete package which has drama, music, action and emotions."
"The most important thing is that people want films that they can watch with their families. But when we started making films keeping in mind only the big city audience, we lost a lot of the audience."
Taran Adarsh says, "But there is also a film like Drishyam 3, which has neither songs, nor action nor romance. The film's lead actor Ajay Devgan also has very few dialogues. He acts with his eyes, facial expressions and body language."
According to him, 'Hanuman Ansh' is a sudden blockbuster film, which was made with a budget of Rs 2 crore.
He says, "Many films like Dhurandhar, Hanuman Ansh and Drishyam 3 have broken old notions. The audience is proving wrong what the film industry considers important for the success of a film."
He says, "The film 'Toxic' also broke another perception. The film had a great opening of Rs 50 crore, but its report was so bad that its earnings fell the very next day. Its story was also weak."
According to Taran Adarsh, the natural appreciation of the audience took a film like 'Hanuman Ansh' forward.
The producer of this film was making a film for the first time. There was a new artist in the lead role. The film had neither glamor nor publicity, because its producers did not have money for it.
Cinema operator Raj Bansal believes that the kind of marketing the producers are doing today is wrong.
He says, "You promote your film by going to malls and restaurants. You travel in private planes to promote the film, but it is of no use."
"You should talk about your film by giving interviews in print media and on television. You go to Kapil Sharma's show or any other program, but it does not make any difference to the box office."
Raj Bansal says, "The television channel shows your trailer for several minutes for free. So you have adopted a different path commercially to save the budget of promotion of your film. But the path you are using is hurting the film industry."
According to him, social media has today become a new means of marketing films.
He says, "Promote your film on social media, but paid reviews are hurting the film business."
Raj Bansal alleges that actors are humiliating other actors through their PR agencies, influencers and paid fans.
He says, "When an actor's film is released, his film is criticized or his old videos are brought out. This creates negative publicity against the film."
According to Raj Bansal, Hindi cinema is failing on three fronts.
He says, "We don't have good scripts and good music because we don't want to spend money on them."
"Another thing is that the director is the captain of the entire film, but we do not respect him. Whereas this is not the case in South Indian cinema and this is the reason for their success."
He says, "My friend says that watching a movie in a theater has become expensive today. So people wait for the movie to come on OTT or watch the movie on Tuesday, when the ticket prices are very low."
Regarding the failed big budget films this year, Raj Bansal says that 'Bantwara' did not work because of its casting.
He says, "The main character of the film was played by Sunny Deol. He has been targeting Pakistan in his films all his life. This has been the formula for his success. But the story in this film was the opposite."
Raj Bansal says that Shabana Azmi was given the role of a Hindu woman in the film, whereas her image is considered to be that of a staunch Muslim.
According to him, Sunny Deol pushed his son and Preity Zinta was cast because she could easily get dates and she charged less than the top actresses.
He says, "But the truth is that today films in his name are not sold. So it was a failure of casting."
Raj Bansal also considers 'Son of Sardar 2' as a big budget film in which the choice of actors was wrong.
He says, "How can you even think of replacing Sanjay Dutt with Ravi Kishan? That's why the film flopped."
He says that the director of 'Drishyam 3' had full faith in his story and characters.
Therefore, he did not give Akshay Khanna his demanded fee and instead chose Jaideep Ahlawat, who suited his story better than the earlier characters.
He says, "The film was made and became a superhit. This is the biggest film of Ajay Devgan and the director's career."
"If Akshay Khanna had been in this film, he would have got half the credit for its success."
According to him, the high fees paid by male actors in Hindi cinema today is a major reason for films failing at the box office.
Cinema operator Akshay Rathi believes that the Hindi cinema business has grown very rapidly in the last few years. Its market is spread in India as well as abroad.
He says, "The first film to earn Rs 100 crore was 'Ghajini'. It broke records and set a new standard of earning."
"In the year 2026, we got a film earning Rs 1000 crore for the first time in the form of 'Dhurandhar 2'."
Akshay Rathi says that whether a film is a hit or a flop is decided on the basis of return on investment rather than its box office earnings.
He says, "A film like '12th Fail' can become a hit at the box office by earning Rs 50 crore. Whereas a film can flop despite earning Rs 100 crore due to its huge budget."
According to him, 'Hanuman Ansh' can be one of the most profitable films in the history of Hindi cinema in terms of return on investment.
He says, "For the film industry to continue, every type of film should be made. Every film has its own impact and its own audience."
"It is very important that all types of films are made in approximately equal numbers, so that the box office business in India remains strong and healthy in the long run."
On the business, marketing methods and current problems of Hindi cinema, 'Drishyam 3' producer Kumar Mangat Pathak says that the audience now chooses films more thoughtfully than before.
He says, "Today you cannot take the audience lightly. They have a lot of choices. They will come to theaters only if they feel that a film is worth watching."
"As producers, we need to focus on good stories, smart budgets and understanding the audience's preferences."
Kumar Mangat Pathak says that for him every film starts with the story.
He says, "When we made 'Omkara', we took the risk of making a Hindi adaptation of Shakespeare's 'Othello'."
"It wasn't a common topic, but we believed in the film and its possibilities. That experience taught me that sometimes you have to trust your beliefs."
"The choice of director, cast and budget also have to be taken into account, but for me the story is always the first step."
Regarding the budget of the film, Kumar Mangat Pathak says, "This includes the fees of the actors, wages of the director and technical staff, the expenses of shooting, production and post-shooting work."
"After this comes the marketing and promotion expenses. The budget depends on the kind of film you are making."
According to him, while making films like 'Special 26' and 'Raid', it is important to understand the level of the story and plan the expenditure accordingly.
He says, "I believe that you should spend money according to the earning potential of the film, because as important as making a film is, it is equally important to get back the investment money."
To understand the complete financial condition of a film, its budget, print and promotion expenses, first three days' earnings and total earnings are looked at.
Kumar Mangat Pathak says that producers first look at the total investment made in the film. This includes the expenses incurred on making the film and its promotion.
He says, "First weekend earnings give an indication of how a film is performing, but it doesn't tell the whole story."
"At the end of the day you have to look at how much business the film did over the period and how much money actually came back."
He says that there is no fixed definition of a big, medium or small budget film. It depends on the level, cast and subject of the film.
He says, "The film 'Pyaar Ka Punchnama' is a good example of the fact that a film's budget does not always have to be huge to connect with the audience."
"On the other hand, a film made on a large scale has to do business as per its standards. It is important to make the film at the same cost as it has the earning potential."
Is the era of expensive films with big stars coming to an end because they are not able to cover their costs?
On this question, Kumar Mangat Pathak says, "No, I don't think big budget films are going anywhere. The audience still likes to watch big films on the big screen."
"But a big star or a big budget does not guarantee a film's success. 'Shaitan' showed that a strong idea can also bring audiences to theatres. A film must connect with people and its cost must be commercially reasonable."
Kumar Mangat Pathak says that the cost of marketing and promotion has increased in the last few years because the way of promotion of films has completely changed.
“Today we use digital platforms, social media, outdoor advertising, events and many other mediums,” he says.
"The competition for audience attention is greater than ever before. But I believe that spending more money does not always mean better marketing."
According to him, the current problem of the Hindi film industry is that the costs have increased and the audience is choosing films more thoughtfully than before.
He says, "Sometimes the budget of a film is so high that it has to do extraordinary business even just to cover its costs."
"We have seen with films like 'Drishyam' that a strong story and interesting script can create a long-term connection with the audience. We have to focus on good content and be practical about costs."
Kumar Mangat Pathak says that the film industry will have to be more disciplined while deciding the budget and honestly look at the earning potential of every film.
He says, "Not every film needs to be made on a large scale."
"We have made different types of films, from 'Omkara' and 'Special 26' to 'Pyaar Ka Punchnama' and 'Drishyam'."
"Different subjects require different approaches. The most important thing is that we have good material and a sensible plan."
He says that the cost of making a film should be more realistic.
He says, "An actor's fees need to be appropriate to the earning potential of the film. This does not mean that stars should not be paid well. It is just a matter of ensuring that the entire financial plan of the film works properly."
"Everyone has to contribute to make the film financially viable, because the ultimate responsibility for the investment lies with the producer."
Kumar Mangat Pathak says, "For me, a hit is a film which makes profit after recovering its costs. A flop is a film which is unable to recover its costs."
"A film cannot be judged just by looking at its total earnings. What matters most is the budget of the film and the actual return."
He says, "At Panorama, from 'Omkara' to 'Drishyam', 'Raid' and 'Shaitan', our journey has been to support different types of stories and choose the right path for them."
