Industry, experts bullish on OTT platforms, upcoming releases lined up

Chennai: Hugely successful Kannada feature film Kantara is the latest entrant on Over The Top (OTT) media service, giving an indication of the growing importance attributed by filmmakers to digital platforms.

Written and directed by Rishab Shetty, Kantara has collected over Rs 400 crore since its release in September this year, as per industry estimates.

The film is said to be one of the six highest grossers among Indian films released this year, and it is still going strong in theatres.

Kantara's release along with some other big films across the country on OTT platforms this weekend, raised some eyebrows.

"The days when theatres were the prime outlet for a film are over. Today, OTTs have more traction and distributors too see the business opportunity for early release on OTTs, riding on the momentum generated by theatrical responses," said film trade analyst Sreedhar Pillai.

"Those who have already seen Kantara in theatres would still want to revisit it and experience its many nuances," he added.

Apart from Kantara, other films that will be streaming on OTT platforms starting this weekend, include Dulquer Salmaan and Sunny Deol starrer Chup, Sivakarthikeyan starrer Prince, Malayalam political drama Padavettu featuring Nivin Pauly and India's official entry to the Oscars – Gujarati film, Last Film Show.

Is there room for all? "Absolutely, people are consuming entertainment in all forms, in theatres, on cellphones and other gadgets," said Pillai.

"However, the business of cinema has changed largely because of OTT. Today, OTT rights are more valuable than theatrical rights and can generate 65 to 70 per cent revenue on those platforms. If you do not have OTT rights, there is no point in making a film anymore," he said.

"OTTs, however, benefit from the buzz generated by theatrical release. So, it is still a co-existence," Pillai added.

Post the COVID-19 pandemic, OTT's hold over the cinema business internationally has become huge with Roma -- a film developed solely for OTT -- making history when it was nominated for the Oscars in 2019.

"In India too, the penetration of OTT platforms has been phenomenal, which is why they can pick and choose what films they add to their stock," said Pillai.

"A film like Kantara, which has had a tremendous box office run, is a smart buy for an OTT, since audiences would revisit such a hit. Although films with big stars continue to be the biggest attraction all round — theatre, audiences and OTT platforms — small films and web series too have their own marketability," he added.

Industry observers agreed that the hype and expectation for a movie or a web series was at a never before seen high.

"This is largely because of OTT platforms," said G Dhananjayan, film producer, referencing the recent huge hype generated for Vadhandhi, a Tamil language crime thriller. The eight-episode series will be launched in multiple languages in about 240 countries from December 2 . "This reach is possible only due to simultaneous release – in theatres and OTTs," he added.

Industry insiders said that another positive aspect for OTT was that on the digital platforms, there were no hassles of clashing of big names in terms of top stars, directors or producers as it happens during theatrical releases. Five big films can be released on the same day on different platforms without having to stagger their launch. "Each platform is focused on its own target," said Dhananjayan.

Based on a business model of paid subscription and advertising revenue, OTTs has amped the movie watching experience as well as the business.

"New films, new series and new subscribers are the targets of OTT platforms. OTT is the future of content," Dhananjayan added.