Flop Films, Struggling OTT Shows: How Dharma Productions Is On A Nosedive

After a series of box office flops and struggling OTT releases, Karan Johar’s Dharma Productions has made headlines with a business deal. The film production and distribution giant, founded by Yash Johar in 1979, has often been embroiled in controversies, but now it's in the spotlight for a major financial deal. Adar Poonawalla’s Serene Productions has acquired a 50% stake in Dharma Productions, with Karan Johar retaining the remaining half. As part of the binding agreement, Poonawalla has committed to investing ₹1,000 crore into Dharma Productions and Dharmatic Entertainment. This strategic acquisition comes amidst the backdrop of harsh criticism surrounding Dharma’s latest film, Jigra, starring Alia Bhatt and Vedang Raina.

Recently, Dharma Productions has made headlines due to criticism directed at Jigra, starring Alia Bhatt , for allegedly copying Divya Khossla Kumar's Savi and facing accusations of corporate bookings. In response to the controversy, director Vasan Bala has spoken out, but the situation has inevitably brought intense scrutiny to the films produced under the Dharma banner.

Dharma Productions has been grappling with a string of flops, beginning with the multi-starrer Kalank (2019), which starred actors like Alia Bhatt , Madhuri Dixit, Sonakshi Sinha , Sanjay Dutt, and Varun Dhawan. This was followed by Student of the Year 2 and Drive, which starred Sushant Singh Rajput and was released directly on OTT after the actor's passing. The list of unsuccessful films culminates with Alia's recent theatrical release, Jigra.

Between 2019 and 2024, only three films have achieved commercial success, according to Box Office India: Brahmastra: Part 1 (₹230.23 crore), Sooryavanshi (₹195.51 crore), and Good Newwz (₹196.33 crore).  

Big Stars not a savior for Dharma Productions?

Dharma Productions has faced a string of disappointments at the box office, raising questions about the effectiveness of star power in delivering hits. Since 2019, the big banner has released 21 films—both theatrical and direct-to-OTT—but only around five have managed to perform well, even considering average earnings. One of the biggest shocks came with the pan-India film Liger, starring Ananya Panday and Vijay Deverakonda. Despite a substantial budget of ₹125 crore, it only managed to earn ₹20.63 crore at the box office, according to Box Office India.

In an attempt to turn its fortunes around, Dharma Productions ventured into direct OTT releases. The first of these was Drive, starring late actor Sushant Singh Rajput, which premiered after his death, but it failed to resonate with audiences, drawing massive criticism for its weak storyline.

Post-COVID, the production house hoped to revive its image with Sooryavanshi, an Akshay Kumar film directed by Rohit Shetty. As part of the Cop Universe, the film became a blockbuster, grossing ₹195.51 crore. However, Dharma's association with the Cop Universe ended, preventing them from benefiting from subsequent films. While Sooryavanshi gave the banner a temporary boost, it was short-lived, as their next OTT release, Gehraiyaan, faced mixed reviews despite praise for its visuals and performances. Criticism was directed at the plot, screenplay, and climax.

2024: A year of Flops for Dharma Productions

This year, six movies were released under the Dharma banner, but disappointingly, all failed to attract audiences, except for Bad Newz.

Yodha: Starring Sidharth Malhotra, Raashii Khanna, and Disha Patani , this film grossed only ₹35.56 crore after five weeks in theatres, marking it as a commercial failure.

Ae Watan Mere Watan: Released directly on OTT on March 21 and starring Sara Ali Khan, this film received mixed reviews, criticized for its weak plot and performance.

Mr. & Mrs. Mahi: Starring Rajkummar Rao and Janhvi Kapoor , this film debuted on May 31, garnering mixed reviews. While praised for its leads' chemistry and novel concept, it fell short due to screenplay issues, grossing ₹43.19 crore in India by July 2024.

Bad Newz: Starring Vicky Kaushal, Triptii Dimri, and Ammy Virk, this film gained popularity after the release of its song Tauba Tauba. It performed relatively well at the box office, grossing over ₹115.74 crore against a budget of ₹80 crore.

Kill: Starring Lakshya, Raghav Juyal, and Tanya Maniktala, this action thriller hit theatres in July. Despite receiving positive reviews, it only grossed ₹47.12 crore against a ₹40 crore budget, leaving a modest profit of ₹7 crore.

Jigra: Starring Alia Bhatt and Vedang Raina, this film received mixed reviews and emerged as a box-office bomb, earning only ₹27.32 crore.

The Fall of Dharma Productions

With Jigra topping the flop charts, Dharma Productions is grappling to revive its once-prominent status. Despite their last major hit, Sooryavanshi, the studio is pouring resources into marketing and chart-topping music, yet the openings remain low. Several factors could explain their decline:

The production house seems to be prioritizing trends over substance, focusing on remakes, sequels, and patriotic films rather than original narratives.

Karan Johar, the owner, has faced considerable backlash over nepotism. During the promotions for Jigra, director Vasan Bala mentioned that KJo had shared the raw script with Alia without keeping him informed, further fueling negative perceptions.

The consistent use of the same star pairs, such as Varun Dhawan and Alia Bhatt , and a reliance on similar storylines—like in Bad Newz and the upcoming Sunny Sanskari Ki Tulsi Kumari—have contributed to audience fatigue.

The Future of Dharma

Looking ahead, Dharma Productions has announced a diverse slate for 2025, mixing spiritual sequels with patriotic and action-comedy genres:

• Sunny Sanskari Ki Tulsi Kumari (April 18, 2025) - Featuring Varun Dhawan and Janhvi Kapoor .
• An untitled film starring Kartik Aaryan, directed by Sandeep Modi, is set for release on August 15, 2025.
• Sarzameen, a pan-India film boasting an ensemble cast, including Kajol, Prithviraj Sukumaran, and Ibrahim Ali Khan, marking his Bollywood debut.
• A remake of Hridaym, starring Ibrahim Ali Khan and Khushi Kapoor.
• Dhadak 2, featuring Triptii Dimri and Siddhant Chaturvedi.
• An untitled action-comedy starring Ayushmann Khurrana and Sara Ali Khan, directed by Aakash Kaushik.

The fate of Dharma Productions now rests on its upcoming 2025 slate of films. With a lineup that includes a mix of spiritual sequels and original stories, Dharma must focus on creating compelling content that resonates with audiences. The success of these projects will determine whether Karan Johar's Dharma can bounce back from its recent setbacks and restore its legacy as a cinematic powerhouse.