Covid has brought lot of distress to the film industry, but if you look at it as an optimist, it has brought in a new set of opportunities for independent filmmakers By O P Srivastava
In Chinese, the word ‘Crisis’ is made of two strokes- one represents ‘Danger’ and the other represents ‘Opportunity’.
Covid has brought lot of distress to the film industry, but, if you look at it as an optimist, it has brought in a new set of opportunities also.
It has ushered in an era of OTT platform based streaming, which is not only cutting across a number of layers between the filmmakers and the ultimate audience, but also making independent filmmaking a viable business proposition in India. Till now in order to make a film In India, one was required to collect ‘a bagful’ of money and then raise another bagful to promote the film and then beg borrow or steal another one to release the film. And even after going through this long ordeal, a filmmaker could not be sure of ‘what cash flows’ were going to come back to his or her kitty. It is a well-known fact that whereas the big production houses and star-producers manage to multiply their investments in their films multi fold, the small producers, in ninety nine per cent of cases, end up losing their capital also. But, post March 2020, things started changing-thanks to Covid.
The prolonged lockdown has induced not only a change in our lifestyle but it has also dented a shift in the consumption behavior including the digital consumption.
The long struggling OTT platforms have suddenly taken off !
In the first quarter of 2020, Netflix added a staggering 15.8 million paid subscribers as the locked-down audience turned to OTT platforms in the absence of PVRs of the world. According to reports, Netflix’ global total has reached 189 million with audience binging on shows like Love and Blind and Money Heist and Indian web series like Delhi Crime, Jamtara, Made in Heaven, Mirzapur, Special OPS etc. Amazon Prime, Hot Star and ZEE5 have reportedly seen 65 per cent increase in their consumption pattern during March- June 2020 quarter.
One of the most impacted sectors due to the lockdown has been the entertainment industry. Not only the production activity has come to a grinding halt, the theatrical distribution companies like PVR have also suffered a serious blow (Share price down form Rs. 1815 on December 2, 2019 to Rs 1037 on July 17, 2020). So much so that an Amitabh Bachhan starrer like Gulabo Sitabo found it viable to release on a digital platform. To my mind, this trend is also a manifestation of a fundamental change happening in the ‘financial model of filmmaking’ in India. First of all, it indicates an increasing share of revenue from digital release of a film and a decreasing share of cash flows coming from the theatrical releases. The resultant combination of these two major cash flows increases the ‘certainty quotient’ in the total revenue stream of a film thereby enhancing the predictability and the stability of monetization in the filmmaking business. A more predictable or measurable revenue stream of a film is a good sign from an investor’s point of view. It helps the investors or a financier or a banker to look at investment in ‘filmmaking’ much more favorably. Besides, logically the stuff made for OTT platforms may not be as extravagant or as expensive as the high budget films made for the big screen. The success of the recently streamed popular films/episodic web series content like Patallok, Panchayat, Chintu Ka Birthday etc on OTT platforms largely driven by non-stars/ first timers is also an indication that for a film to be commercially successful on an OTT platform, it need not depend on the hugely expensive stars or sets thus bringing down the cost of the film and thereby increasing the Return on Investment ( ROI) on a film project. The success of Netflix Original or Amazon Original is, in a way, indicative of a new business model shaping up in the film industry. Add to this, the fact that in the post-Covid scenario, due to the enhanced pressure on timelines and productivity, ‘digitization’ in the filmmaking is bound to increase. We are looking at a ‘picture’, which may be more viable financially speaking.
Three years back, when Yoodlee films started making small budget films based on the stories of a new crop of writers, there were many, who would have scoffed at their misadventure in the market dominated by the big budget star-studded films. But three years down the line, the tide has taken a U-turn with the explosion of viewership on the OTT streaming platforms, where even big blockbusters are getting forced to seek a release instead of waiting for cinema halls to open. Yoodlee films, with 13 small budget successful films like Chaman Bahar, Axone, Ajji etc. has not only proven that successful films can be made without big stars, big sets, high tech VFX, big promotions and of course big budgets, they have also opened doors for a new wave of filmmaking in India. What are the basics of this new model? Here it goes.
Yoodlee, the way to go!!
O P Srivastava, a banker turned filmmaker, started his filmography in 2015 by producing a fiction film, ‘Missed Call’, which won 4 International Awards including selection as the opening film at IFFI 2006, Best International Film at Israel 2008 and represented India at Cinema du Monde, Cannes in 2007. His first feature documentary, Life in Metaphors, won the National Award for Best Biopic in 2015.
Highlights
What Media Guru Amit Khanna Said in CII BIG PICTURE SUMMIT 2012
A Call From Uttarakhand For Filmmakers Of The World
Thanu For Making Producers’ Mission Possible
Mehrunisa Aims more Destinations
Delhi Photographer Sohrab Hura’s Film The Coast in Berlinale’s Forum Expanded
Berlinale Talents 2021: Nine Talents from India
Tamil Film Pebbles by Vinothraj Wins Tiger Award at Rotterdam
Re-Imagined European Film Market 2021
EFM Global Market Screenings in Tokyo, Melbourne, Sao Paulo, Mexico
Berlinale Co-Prod Market: 35 Films from 25 Countries
Books at Berlinale 2021: 10 Books will be Pitched for Screen Adaptation
Highlights: Berlinale Series Market & Conference
Uday Shankar forms New Tech and Media Venture with James Murdoch
With Film Visa, Global Producers Can Now Shoot in India
CII Seeks Industry Status for M&E in Union Budget
51st IFFI Will Capture New Narratives in Cinema
15 Films Compete for Golden Peacock at #IFFI51
Top IFFI Picks: Another Round, Mehrunisa, Wife of A Spy
Hybrid IFFI From January 16
CII BIG PICTURE SUMMIT 2012: Growth Triggers From Ronnie
LATAM Market Ventana Sur from November 30
Blue Efficience Roped in For Ventana Sur
Films to watch @ Ventana Sur
India Rolls out Red Carpet to Foreign Filmmakers
Ramesh Sharma’s New Documentary Film on Gandhi at AFM
The Warrior Queen of Jhansi at AFM
www.cinemarket.io – Buy, Sell & Engage
Embracing Cinema Through Screens of all Sizes
Nomadland wins People’s Choice at Toronto
MIPCOM 2020 Goes Entirely Online
South Korea will be MIPCOM 2020 country of honor
India, the Window of Opportunity
Get Ready for Hybrid IFFI
Film Making Centres of India
Get Your Film Take Wings at Virtual Film Bazaar
Make at least Ten co-productions in a year
Filmmakers Should Make use of India-Canada Treaty
TIFF: The Show and Business Goes on
Navigating Toronto Film Festival and Industry
Make in India, Show the World
Be Part of the Pickle India Focused Toronto Edition
ads2OTT set to Launch in Oct 2020
MovieSaints to release Memories of a Forgotten War
Truth Is Dead
Submissions Open For Berlinale Co-Production Market
Gender Equality-Berlinale Eliminates Silver Bear for Best Actor and Best Actress
All3Media, A+E Networks, BBC Studios, ZDF Join MIPCOM 2020 Global UPFRONTS Lineup
NürnbergMesse’s Content India Show from October 29-31
Berlinale 2021 Will be a Physical Festival; EFM in Hybrid Format
Best of 2020: A Dazzling Dozen
Striking the Right Chord
Ishaan Khatter looking ‘beyond clouds’ with promising upcoming projects
IFFI 2020 Adopts Hybrid Online-Physical Edition
India Unbound
20 Films That Make us Believe Freedom is Priceless
Krishna Janmashtami Special
National Education Policy: Game Changer
18 Must-See Films at Venice 2020
Ayushmann Turns Athlete
Indian Trio in Venice
Blockchain: The Future is Now
Not right time to open cinema halls: Ravi Kottarakara
Meet, ERICA. AI Actor in a SCI-FI Film
Vidya Balan Set to Shine as Shakuntala Devi
Straight Answers From Alexander Shulgin
Content is king for Saregama’s Yoodlee
Nuggets From Animation Thought Leaders
NYIFF Takes Virtual Route
From The Heart Of Disney
New Model of Filmmaking in India
My Journey: How I Did It
Animation in the Age of Art & Tech
Making Filming in India More Easy
Gaurav Banerjee: Star Unveiled
FDI cap of 26% for News Aggregators Under Consideration
The Changemaker
COVID-19 has Accelerated Digital Shift Towards Across Sectors
No Business as Usual for Film Industry
What’s Wrong With our News Media Today ?
The Fire Inside Regina
Gaming Industry Braves Covid
Disney +Hotstar Leads the Disruption
Taapsee’s takes on OTT, Nepotism & Covid
Oscar Invites QUBE’s Senthil Kumar to be its Member at Large
What’s New Search Engine Neeva Can Do That Google Cannot?
The New Oscar Award Date April 25, 2021
India to Offer Incentive Package for Film Shoots and Co-Production
‘NFDC Film Bazaar Goes to Cannes’
Strings of Genius
A Ray That Still Lights The Way
Best of the Cannes Official Selection 2020 Films
Most Awaited Films of India
56 Films: Cannes Reveals 2020 Lineup
The Making of Cannes 2020 Film Selection Process
Cannes Virtual Film Market Extends Earlybird Registration to June 12
Take a Look at Annecy Competition Lineup
Getting Back to Business, Reveals Media Consumption Pattern
Cannes 2020 to Announce Festival Selection Lineup on June 3
20 Work in Progress Tiltles Unveiled for Goes to Cannes
Annecy VR Works Selections for Digital MIFA Market
Film Bazaar’s Work in Progress Films from India Goes to Cannes Virtual Market
Navigating Virtual Cannes Film Market 2020
Meet the Streamers: HBO Max & Quibi Keynotes at Cannes Virtual Film Market
Dedicated Cannes XR Virtual Edition from June 24-26
Screen Moms; Best Movies to Stream on Mother’s Day
Vijay Deverakonda: The Lovable ‘Rowdy’
Sai Pallavi: Natural Beauty is a Natural Actor Too
Cannes Virtual Film Market Registration Opens May 13
COVID-19: Nuggets from Netflix’s Ted Sarandos on Filming and Safety Protocols
Maitreyi Ramakrishnan is New Sensation in Netflix Original Series Never Have I Ever
The Best Movies of 2001-2019 Not Streaming in OTT Platforms
Best Movies of the New Millennium Streaming Now
Best Movies of the New Millennium Streaming Now
Best Movies of the New Millennium Streaming Now
Best Movies of the New Millennium Streaming Now
Best Movies of the New Millennium Streaming Now
Annecy Unveils Virtual Film Festival and Market in June
Roskino to Host Russian Virtual Digital Content Market from June 8
27 Rishi Kapoor Films to Stream at Home Now
Virtual Nab Show Express will Take Place May 13-14, 2020
51 International Film Festival of India, Goa ( 20 -28 November, 2020)
Films to Watch in 2020
Christopher Nolan Films Tenet in Mumbai
FFO Rolls Out Red Carpet For Foreign Filmmakers
INDIA@BERLINALE-Indian Cinema’s Voices Emerging
51st IFFI TO Mark Satyajit Ray’s Centenary Celebrations
Infusing Life With Dubbing AT VR Films & Studios
Sailing well in Animation Waters
Berlinale 2020: India’s Laila Aur Satt Geet Selected for ‘Encounters’ Section
Prateek Vats’ Eeb Allay Ooo! in Berlinale Panaroma
Berlinale Shorts: Ekta Mittal’s ‘Gumnaam Din’ to showcase of pain of separation
Berlinale Talents: Seven Indians Make It to the List
My Salinger Year is the Opening Film at 70th Berlinale
GET READY for EUROPEAN FILM MARKET 2020
BERLIN FILM FESTIVAL 2019 WINNERS
Berlinale Forum Celebrates Golden Jubilee in 2020
Berlinale 2020 Poster Unveiled
British Actor Jeremy Irons Will Be the Jury President of Berlinale 2020
Amit Khanna: The Renaissance Man
Fantastic Friend
THE MEDIA GURU-AMIT KHANNA
STRAIGHT ANSWERS FROM AMIT KHANNA
THE DEFINING DECADE -THE 1990s
10 Achievements of Amit Khanna
Reflections on Amit Khanna
Valuable Moments
India Enchants John Bailey
The Big Bachchan of Bollywood
ETERNAL SUPERSTAR: RAJINIKANTH
IFFI 50 & Fantastic-Lifetime Achievement Award to Isabelle Huppert
INDIA’S FLAGSHIP FILM FESTIVAL TURNS 50
BACK IN BUSINESS WITH A BANG
GET THE BEST OUT OF FILM BAZAAR 2019
Transforming Hollywood from pixels to voxels
Government of India committed to Safeguard IP content: Commerce Secretary
Must do Things at AFM
Why India Attracts Foreign Filmmakers
Pickle at MIPCOM 2019
INDIAN COMPANIES AT MIPCOM
Super Audio: Licensed to Thrill
Jungle Book Season 3 Ready
Issuance of VPL in India
Editor’s Note: 44th Toronto International Film Festival Pickle Sept 2019 Edition
The OSCAR RACE begins HERE…
Seven Indian Indie Filmmakers To Watch
Indian Cinema Of Today: A Culturally Responsive Artifact
Indie Resurgence
Indian Films At Toronto a Sparkling Quartet
IFFI Matters @ 50
Four Indian Films at the Toronto International Film Festival 2019
India Pavilion at Toronto International Film Market 2019
Made in Afghan Film ‘Hava, Maryam, Ayesha’ To Compete at Venice Festival
Keerthy Suresh: The Mahanati of Mahanati. Best Actress, National Film Award
Uttarakhand Bags National Award for Most Film Friendly State
66th National Film Awards Winners for 2018
Watan Adds Colour to Indian Independence Day
dream hampton and Brie Miranda Bryant to Feature in MIPCOM’S Women in Global Entertainment Lunch 2019
Making a Song and Dance of it
NFDC Invites Applications for Production of Films in Indian Languages; Deadline September 8, 2019
IFFI Calls for Entry for Indian Panorama in 50th Edition
Ease of Filming in India
Come, Film In Inida
Why TikTok wants to invest $1 billion in India?
Priyanka Chopra’s The Sky is Pink Set to Premiere in 2019 Toronto Internaitonal Film Festival’s Gala Section
Gitanjali Rao’s Animation Feature Bombay Rose to open Critics’ Week at Venice International Film Festival
76th Venice International Film Festival to Open With Hirokazu Kore-eda’s ‘The Truth’
Indian Cinema’s Soft Power Misses the Mark in Nirmala Sitharaman’s Maiden Budget Speech
Shahid’s Kabir Singh Becomes Top-Grossing Film of 2019
Finance Minister Proposes FDI Norm Relaxation in Media
Media & Entrtainment as Champion Sector Figures in the Economic Survey 2018-19
Indian Cinema’s Steady Rise on Global Stage
Glimpses of the future
IFFI Marching Towards 50th Edition
Cannes or Netflix? Is Netflix an acceptable remediation for Cannes’ decades-long little regard for Indian Cinema?
Play Small & Live Long Did Wonders for Me
Reliance Animation
Pickle July 20-26 Issue
Shooting Locales in India – Haryana
Creating Mutually Beneficial Synergies