Indian box office powers ahead in H1 2026 as exhibitors broaden the theatrical playbook

India's theatrical exhibition business appears to have entered a stronger growth phase in the first half (H1) of 2026, with higher box office collections, improving footfalls and a wider spread of successful films across languages, signalling a healthier recovery than the industry witnessed a year ago.

Industry executives, exhibitors and trade analysts say the biggest difference from H1 2025 is that the momentum is no longer being driven by a handful of blockbuster titles. Instead, multiple Hindi, regional, and Hollywood films have contributed to collections, pointing to a more diversified theatrical ecosystem.

According to PVR INOX executive director Sanjeev Kumar Bijli, the Indian box office grew 11% year-on-year to ₹13,519 crore during FY26, driven by a 55% growth in original Hindi cinema and the revival of Hollywood releases.

"The first half of 2026 has marked an important turning point for the Indian film industry. Unlike previous years, when box office performance relied heavily on a handful of tentpole releases, we have seen audiences embrace both large-scale spectacles and compelling content across Hindi, regional and Hollywood cinema, creating a healthier and more balanced theatrical ecosystem," Bijli tells Fortune India.

PVR INOX's own operating metrics reflected the broader industry trend. The multiplex chain said it has recorded 150.1 million admissions, occupancy of 26.2%, a record average ticket price (ATP) of ₹280 and its highest-ever food and beverage spend per head of ₹147, indicating improving consumer confidence and higher per-capita spending.

What's driving the revival of India's theatrical business?

Trade analyst Komal Nahta believes the industry's revival has little to do with star power or changing audience preferences, and everything to do with content.

"It's never about stars or a shift in audience preferences. It's always about great content. If the content is immersive, if the content is engaging, then people will come to the cinemas," he says.

Nahta credits Dhurandhar in 2025 with bringing audiences back to theatres and says the success of its sequel, Dhurandhar: The Revenge, this year built on that goodwill. "Stars do help, but only if the content is good. Without good content, stars can't do a thing. But with great content, even non-star cast films can run," he adds.

Ashish Misra, head of commercialisation at Cinépolis India, says collections are up by double digits over H1 2025, but what stands out is the quality of that growth.

"The growth is coming from more films working rather than from charging more, which is the healthier version of it," he says. Successful films have emerged across Hindi, Malayalam, Tamil, Marathi and Hollywood, proving that audiences are rewarding compelling stories regardless of language or budget.

Misra also points to changing consumer behaviour. Instead of judging films purely by opening weekends, exhibitors are now tracking weekday holds more closely, with positive word-of-mouth extending theatrical runs. While moviegoers remain price-conscious, they continue to opt for premium formats when the experience justifies it, while mid-week pricing has helped attract younger audiences.

Film business analyst Girish Johar estimates that the Indian box office is currently 10-15% ahead of the first six months of 2025. Besides successful Hindi releases, he says regional cinema and Hollywood films such as Project Hail Mary and Obsession have significantly contributed to growth.

Johar also believes the industry is benefiting from growing "OTT fatigue".

"By nature, man is a social animal. You want to step out, get the entire experience and enjoy the community viewing of films," he says, adding that cinema-going is gradually shifting from an "event watch" to a "habit watch", where audiences are increasingly willing to visit theatres more regularly for quality content.

Movies and beyond

Even as films remain the core business, multiplex operators are increasingly looking beyond traditional movie releases to drive year-round footfalls and diversify revenue streams.

For PVR INOX, alternative programming has become an important strategic layer alongside theatrical releases. The company is expanding its offerings through concerts, live sports screenings, fan events, stage performances and film re-releases to position cinemas as multi-format entertainment destinations.

"The idea is for cinemas to go beyond just the traditional fresh releases," says Nayana Bijli, lead, distribution and licensing, PVR INOX. "We have re-releases, sports showcases, concerts and now we're trying to introduce live on stage. The idea is transforming theatres into a multi-format entertainment destination."

She, however, emphasises that movies remain the company's primary business. "Fresh releases and new movies are our mainstay. This is part of the strategy to add a different customer touchpoint and cultural moment while keeping our core focus intact."

Between April and May, alternative programming generated around 2 lakh admissions and ₹7-8 crore in box office revenue, contributing roughly 1-2% of PVR INOX's admissions and revenues. The company says the BTS World Tour live screening drew around 30,000 admissions, while IPL screenings attracted nearly 37,000 admissions across 227 shows, highlighting growing consumer demand for shared entertainment experiences.

Misra says alternate programming has also become a planned part of Cinépolis India's exhibition strategy. While theatrical releases continue to drive the business, concerts, sports screenings, fan events and re-releases help improve occupancy during quieter periods and reinforce the company's "Future Ready Cinema" vision.

"The value of it is not only the ticket. It is what it does to the rhythm of the cinema," he says. "Its job is to widen what the cinema offers through the year and deepen the food and partnership layers around the core business."

Can the momentum continue in the second half of 2026?

Industry stakeholders remain optimistic about the second half of 2026, supported by a packed release calendar featuring major Hindi films such as Ramayana and Toxic, alongside Hollywood tentpoles including The Odyssey, Avengers: Doomsday and Spider-Man: Brand New Day, as well as a strong regional slate.

Bijli believes the industry's momentum will hinge on maintaining a balanced release calendar across genres and languages.

"A consistent flow of quality films is the biggest growth driver for cinemas. Equally important is a well-balanced release calendar that keeps audiences engaged throughout the year rather than concentrating releases around a few peak periods," he says, adding that successful theatrical runs also enhance the value of digital, satellite and international rights, strengthening the economics of the entire film value chain.

Misra, meanwhile, says the industry's long-term health will depend on what happens between the big-ticket holiday weekends.

"The films that do more for the business are the ones that bring people out on ordinary weekends," he says, noting that family entertainers and mid-budget films will be key to building repeat moviegoing habits and reducing the industry's dependence on a handful of tentpole releases.

Johar is equally bullish on the outlook, saying 2026 has the potential to become the defining post-pandemic year for Indian cinemas. If audiences continue returning to theatres not just for event films but as part of a regular moviegoing habit, he says, the industry could witness a structural shift in consumer behaviour.

Across the industry, there is broad agreement that while star power may drive opening-day buzz, sustained box office success will continue to be determined by compelling storytelling, positive word-of-mouth and a steady pipeline of quality releases throughout the year.