For the first time probably in years, the biggest festival on the box office calendar has arrived without a single big-star spectacle. Instead of big stars jostling for screens and supremacy, this festive season, smaller, high-concept films like Ayushman Khurana's Thamma are leading the charge.

In fact, according to Ormax Media, the success of films like Saiyaara, Mahavatar Narsimha, Lokah Chapter 1: Chandra, and Su From So shows a larger shift: content, not celebrity, is driving footfalls. In the first half of FY26, 22 films crossed the ₹100-crore mark, compared to 6 and 14 in the corresponding period in FY25 and FY24. Even more telling, collections from ₹100-500-crore films surged to 59% of total box office revenue in H1FY26, up from just 21% in H1FY25—proof that audiences are rewarding strong stories over big names. That said, no movies have yet crossed the ₹500-crore mark in the first half of FY26.

“It’s actually the first Diwali I’ve seen in years where no superstar is coming out with a film. They always reserved this date,” says Sanjeev Kumar Bijli, executive director at PVR INOX Ltd.

Rise of the discerning viewer

That shift, insiders say, has been building for a few years. “The conversation for the past couple of years hasn’t really been around the big stars having that big Diwali release,” says Aamer, lead director–marketing and innovation at PVR INOX. “Although last year we did benefit from a dual release with Bhool Bhulaiyaa 3 and Singham Again, there hasn’t been that anticipation of that one big film.”

“Post-pandemic, the audience has become extremely discerning, extremely astute about what they want to watch and in what language. They’re deciding what works on the big screen,” he adds. That “what language” part is critical, as there is growing comfort with multilingual storytelling and consumption. 

According to the IMDB Report 2025, one of the most consequential developments in Indian cinema over the past decade has been the ascent of the southern industries—Tamil, Telugu, Kannada, and Malayalam—into the national consciousness. Streaming platforms lowered barriers of language and access, sparking a habit of cross-cultural viewing. Viewers now explore cinema across linguistic lines and through multiple formats—from theatres to streaming platforms, and from linear television to social media clips. Filmmakers, the report notes, are now recalibrating long-held assumptions to find their footing in this new normal.

That discovery-led habit has reshaped what audiences expect from Hindi films as well. 

“There’s been a very healthy composition of the box office split, with as many hits from the South. But definitely, films like Saiyaara, Sitare Zameen Par, Raid 2, and War 2, as well as Housefull and Jolly LLB, have done phenomenally well for us this last quarter and really boosted momentum.”

This diversification is visible in footfalls, too. PVR INOX crossed 8 million footfalls this month, despite no major Hindi star release yet. “We’re seeing 35% occupancy levels on average, and that’s been driven by films that weren’t expected to lead the festive charge,” Aamer adds. “Smaller titles like Su From So or Saiyaara have done incredibly well, purely on word-of-mouth.”

He cites Saiyaara—made on a modest budget but grossing nearly ₹400 crore pan-India—and Mahavatar Narsimha, an animated feature that became a surprise blockbuster. “These are historic responses,” he says. “It proves that curiosity and cultural diversity are now defining theatrical success.”

The end of ‘star guarantees’

Filmmaker and producer Ram Madhvani sees it as evolution, not disruption. “Star power may give you a good opening, but after that, the audience decides,” he says. “Smaller films with tighter scripts and distinct voices are performing well. Films can open small and then just keep growing, powered by word of mouth.”

The bigger trend, in his view, is that the audience is far more engaged. They have seen global content on OTT, are watching regional cinema, and are no longer showing up just for the face on the poster. The story matters.

As Aamer puts it, “Earlier, there was a recipe for success, a certain cast, a few songs, a set genre, and the film would work. Now, it’s a tougher sell. Viewers are more informed, more demanding.”

The shift is also visible in how producers and actors plan releases. “This year has been notorious for sleeper hits, and that's been a learning for the entire industry at large that simple, true, hard-hitting stories resonate more than formula films,” Aamer says

Big names aren’t going away, but they’re becoming selective, ensuring that it does justice to the content and it does justice to the expectations.

Indeed, big-star releases aren’t disappearing—they’re being spaced out. 

Bijli draws a comparison with Hollywood’s evolution. “Look at franchises like Twilight or Harry Potter. They started with newcomers, but the IP was so strong it didn’t need a superstar,” he says. “That’s what’s happening here, too. Studios are spending more on concept and VFX, and less on just one face.”

Thamma, for instance, says filmmaker Suresh Triveni, is not by any standard a small film. It is a high-concept film from Maddock’s proven horror-comedy universe, led by Ayushmann Khurrana.

A new kind of Diwali

Triveni believes it’s too early to call it a trend, even as he mentions a change in the Tamil cinema—long-dominated by big-star releases—that saw a film like Bloody Beggar do well last year. 

“But what’s undeniable is that consumer behaviour has changed,” he says. “Unlike in the 90s and the 2000s when movies were the only source of entertainment around Diwali, the options are far more now. People can sit at home and watch streaming platforms and see the newer releases.”

Even so, the appetite for big-screen experiences isn’t fading. India’s box office has already crossed ₹9,500 crore between January and September, according to PVR INOX estimates—nearly 20% higher than last year, which was already a strong post-pandemic year. “We could close FY26 at around ₹12,000 crore,” says Aamer. “That’s not a dip—it’s growth with a different engine.”

That spirit of discovery extends beyond films. As Rishabh Gupta, country head of Amazon Music India, explains, “In recent years, entertainment consumption during Diwali has evolved in new and dynamic ways. It’s no longer just about big, star-driven releases dominating the spotlight; audiences today are embracing stories, sounds, and artists that feel fresh and relatable.”

Amazon Music's Diwali Beats playlist is a blend of Bollywood hits and regional favourites this year “that truly capture the joy of celebration,” he says. “This year’s lineup includes songs like Shaky by Sanju Rathod, Bolo by W.I.S.H Girls, Sirra by Guru Randhawa, For A Reason by Karan Aujhla, and Kufar by Diljit Dosanjh—tracks that may not come from blockbuster films but continue to resonate with listeners across the country. Year after year, we’ve seen strong traction, with growing engagement,” he adds.

As Madhvani puts it, “We are ultimately in a time where content and conviction are travelling further than just celebrity and scale. And that is not a loss, it is growth.”