IMPACT ON THEATRES
Hollywood is looking at changing the dynamic of the movie business. In the latest development, a major US theatre chain has signed a deal with a prominent film studio, which states that their films can be made available on Premium Video-on-Demand (PVoD) after minimum 17 days of theatrical release. This reduced window has certainly led to varied reactions from different stakeholders.
Explaining what this move exactly means, Shibasish Sarkar, CEO, Reliance Entertainment, says, “The 90% revenue comes in the first three weeks, so whoever wants to have big screen experience may have that. And also, it’s not subscription VOD, like the OTT platforms in India. In this, you buy a particular film, and pay for that.”
He feels that this may impact the mind-set of theatre-going audience. “My personal belief is that both platforms will flourish. Also, PVoD will be more expensive than a cinema ticket,” says Sarkar.
Film exhibitor Akshaye Rathi, feels that even if PVoD is pricier, people might prefer that. “You can have 20 people at home through PVoD, it’s not per person. The erosion into theatrical business can be pretty massive,” he says.
Rathi feels the repercussions of such a model where films are available in the comfort of your home ‘can’t be calculated’. “By the looks of it, it looks like a deal which will drastically impact theatres.,” he opines.
Trade analyst Taran Adarsh is sure that this news must have sent ‘shockwaves’ across US film industry. “When films are releasing directly on OTT platforms, it has raised a lot of eyebrows in India. If it’s come down to 17 days, God save the theatres,” he says.