Kerala film producers on Friday claimed that the Malayalam film industry was facing its 'worst ever crisis" and the only way forward was to cut by half the production cost of films.

Speaking to the media after a meeting of Kerala Film Producers Association, its leader Renjith said: "We will soon share our concerns with all other film bodies and we are certain they are also aware of what's happening. If this industry has to move forward, there is no other way."

The Kerala film industry consists of various bodies like AMMA (actors' body), FEFKA (which represents all sections of industry from light boys to directors), and distributors and exhibitors bodies.

"In 2019, just six films were able to make profit from theatre releases. Other avenues to recover cost is through satellite and outstation releases within the country and outside. In the present situation, all such things will not happen for some time. So, the cost of production has to be reduced. Moreover, if one looks into the pattern of funding for new films, 50 per cent of the funds in recent times come from producers who are outside India. Here too, things have reached a dead end," said Renjith.

The Association will now meet with others connected to the regional film industry and come up with a consensus on the issue.

Nearly, 10 films are awaiting release amid the coronavirus lockdown while more than two dozen films are at various stages of production.