Festive box office revives faith in theatres
Premium- Even though recovery may seem slow, fewer films are expected go directly to digital platforms
New Delhi: The impressive box office collections of big-ticket Diwali releases like Sooryavanshi and Annaatthe have reinstated filmmakers' confidence in theatres and even though the recovery may seem slow, fewer films will go directly to digital platforms, said film trade analysts.
Malayalam star Mohanlal has just announced theatrical release for his much-delayed period drama Marakkar - Arabikadalinte Simham on 2 December even though the earlier buzz was that producers are keen on an OTT release.
Other than Abhishek Bachchan-starrer Bob Biswas that will stream directly on ZEE5 according to media reports, no Bollywood film has announced a digital premiere in the past few weeks. In fact, upcoming titles like Ayushmann Khurrana’s Chandigarh Kare Aashiqui and Karan Johar’s Govinda Mera Naam have already sold streaming rights after these films release in theatres. Telugu action film Akhanda, too, will first release in cinemas.
“Most films that were ready for release before covid and had to make a decision for direct-to-digital premiere have already done so. Now most films being produced are being made specifically either for the big screen or as digital films. Hence, we are not seeing as many acquisitions for direct-to-digital now compared to last year," Gautam Jain, partner at media consulting firm Ormax said. Further, with 'revenge viewing' in full swing, trade experts said the next few titles scheduled for cinemas should see good footfalls.
To be sure, in the last phase of direct-to-digital releases, Telugu mystery thriller Drushyam 2, Hindi language horror film Chhori and Malayalam releases like Bro Daddy, Monster and Minnal Murali that will premiere across OTT (over-the-top) platforms over the next few weeks, had all locked in deals several months ago when there was no clarity on reopening of theatres across different states.
Independent trade analyst Sreedhar Pillai said it still makes sense for Malayalam films to go the OTT route given that their limited theatrical market within the home state, of around 300 cinemas, has not opened up completely. “The maximum revenue that a Malayalam film can make in cinemas is around ₹20-25 crore. If an OTT offers them the same, there is no point in waiting," Pillai reasoned. On the contrary, for Tamil and Telugu films, the theatrical market is most crucial, he added.
Some films from the southern industry have got good feedback from audiences across the country, which has encouraged OTT platforms to increase acquisitions in the southern languages, besides dubbing them in multiple other languages, Ormax’s Jain said.
“OTTs are quite clear they need to focus on growing regional markets like those in the south now. Also, most direct-to-digital acquisitions, especially in Hindi, have not yielded great results, for either services or producers who feel there will be better recovery and more chances of grabbing eyeballs on the big screen," said a senior executive at a streaming platform who declined to be named.
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