India’s largest ticketing portal is seeking to spread its wings. After selling movie tickets, BookMyShow will now offer films on its newly launched platform called BookMyShow Stream.
So, from February 5 onwards, viewers can watch Christopher Nolan's Tenet, Gal Gadot-starrer Wonder Woman 1984, and The Craft: Legacy, on Stream.
Stream will be available on the BookMyShow app and website as well as Apple TV, Android TV, Firestick and Chromecast.
So far, OTT players like ZEE5, Eros Now and ShemarooMe have launched the pay per view model.
After the launch of two films on its transactional video on-demand (TVOD) model, Hiren Gada, CEO, Shemaroo Entertainment, had said that while the films (My Client’s Wife and Scotland) created a strong buzz, in terms of revenue the numbers were small.
Which brings us to the question of why BookMyShow decided to explore the TVOD model?
Ashish Saksena, COO - Cinemas, BookMyShow, told Moneycontrol: "This is a traditional model that has always existed just in India. In markets like US, theatrical business is followed by a TVOD model and then the movie goes on television and then to a video streaming platform. So, the cycle is defined in many markets, but not in India."
Therefore, BookMyShow with its TVOD template is offering a window immediately after a theatrical release.
Along with this, Saksena said that for BookMyShow, it was an extension of the cinema business. "We have years of consumer data and we know what films will work with the movie going audience. We know the behavioural trend of a user and we will dip into that data to give personalized offerings," he said.
Movie mania
When it comes to content, BookMyShow Stream will begin with 600 movie titles on its platform under various categories including Missed in Theatres, Premieres, World Cinema, Festival Favourites and Bundles.
Of the categories, BookMyShow will be focusing on Premieres and Missed in Theatres.
"For Premieres, we will be premiering a minimum of two films every Friday, movies that have not been played out anywhere before," he said.
But the movies on Stream will be films that have been released in theatres.
However, Saksena said that there is a lot of Hollywood content that does not get released in India and such titles will be available on the platform.
And this is how 40 percent of content on BookMyShow Stream will be exclusive to the platform.
Saksena also said that the new feature, Stream, will help BookMyShow expand its userbase.
Currently, BookMyShow gets 200 million customer visits and five billion pageviews every month.
Cost of content
To access the movies on Stream, users will have to shell out anywhere between Rs 40 to Rs 500 with two options to choose from -- buy and rent.
"For the rent option, the window will be 30 days and for the buy option, movies will be available for six months. For the buy option, the period could be longer for big studio films," said Saksena.
Collaborating for content
The ticketing portal is not all hot air. BookMyShow has done deals with Warner Bros, Sony Pictures, and Universal Pictures – no less - who will give their upcoming films to Stream as part of the release.
In terms of Hindi content, BookMyShow has partnered with Indian production houses, including Viacom18, Shemaroo and Rajshri Productions in addition to regional content providers like Divo and Sillymonks, among others.
Stream will also host acquired content from independent film distributors like PictureWorks, Superfine Films, Impact Films, Kahwa Entertainment and VR films.
Pay per view's potentialWhile Saksena is confident that the pay per view model will work in India, many film trade experts note that a TVOD platform has less chances of finding traction amid Indian audience.
While some of them argue that it is too early for the pay per view model to work here, others point that under the TVOD model, a piece of content is available to more than one viewer, making it cost effective.
Other experts believe that the success of TVOD model as a sustainable one will be hugely driven by the merit of content that a platform has.
A recent Boston Consulting group (BCG) report titled Lights, Camera, Action... The Show Goes On noted that the pay per view model is gaining traction in India.
If the pay per view model is successful in this country, it will benefit the entire film industry, as it will extend the life of a movie.
"It (TVOD) is a regular window, somebody has to use this opportunity," added Saksena. He has got a point.