The triple delight of RRR, Kashmir Files and Gangubai Kathiawadi may have given theatres a smashing reopening after the Omicron wave of coronavirus infections, but the sheer volume of content being produced and a changed audience post-pandemic will see theatres and OTTs learning to co-exist, according to experts.
March has seen three films enter the Rs 100-crore club, with Alia Bhatt-starrer Gangubai Kathiawadi earning Rs 126 crore in a month and Kashmir Files collecting Rs 231.28 crore in 18 days, according to portal Bollywood Hungama. Telugu film RRR, which released on March 25, has already crossed the mark within six days.
Mumbai-based G7 Multiplex and Maratha Mandir Cinema’s Executive Director Manoj Desai says he has witnessed houseful shows for all three films, especially in the 6pm-9pm slot. His G7 Multiplex has more than 1,500 seats across six screens and Maratha Mandir Cinema has around 1,000 seats.
“In March 2022, we’ve seen 70-80 per cent increase in footfalls over December, 2021. At the time, there was a 50 per cent occupancy cap. Now 100 per cent seating capacity is allowed. Also, people were scared to come even in December, but now people also more confident.”
Trade analyst Sreedhar Pillai says that the three films were bound to bring audiences back, but 5-10 per cent of filmgoing audiences have permanently migrated to OTTs and are unlikely to return for the smaller films. “It requires a film like RRR to draw people to the theatres. It has these two big stars directed by a big director and it’s a big action movie.”
The juggernaut of a film amassed Rs 91.20 crore in five days, according to film critic and trade analyst Taran Adarsh, who estimated that it has raked in more than Rs 500 crore at the worldwide box office on its opening weekend.
“Gangubai Kathiawadi also has its own audiences because of director Sanjay Leela Bhansali and actor Alia Bhatt. But the film would have touched Rs 100 crore even faster pre-pandemic. In the case of Kashmir Files, it’s a controversial film and it was marketed in such a way that it created curiosity,” said Pillai.
The upcoming Vijay-starrer Beast and Yash-starrer KGF-2 are also expected to see an overwhelming theatrical response given the stature of the two stars in Tamil and Kannada, respectively, as well as the timing of their release. The two films are releasing a day apart on April 13 and April 14 – a long weekend at the start of summer season. Besides, the dubbed versions of both films are set to release in the three other south Indian languages as well as Hindi.
“The momentum will continue in the coming months. The cricket Indian Premier League may take away a little sheen but there are a number movies in Bollywood as well as regional languages to be released over the next few months. Looking at the trend there would be a big release every week,” said NV Capital Founding Partner Vivek Menon.
But the over-the-top streaming (OTTs) services face no pressure because of the increase in theatrical releases. In fact, they prefer them too, experts said.
“Imagine the hype for RRR’s OTT release after it has earned some Rs 600 crore-Rs 700 crore in theatres worldwide. A theatrical hit film has its own valuation on OTT. Besides, there will be thousands of people who will have not have watched the smaller hit films in theatres, hoping to catch them on OTTs in four weeks. So, that anticipation is also there. Both businesses will be driven parallelly and there won’t be any problem,” said Pillai.
Menon also agreed. “OTT platforms will prefer some of these tent pole movies to release in theatres rather than paying a humungous cost for them. The conundrum would be for the smaller movies which would also like to go theatrical but would get sandwiched because of the bigger releases. The OTT platforms would love to lap up this those movies so that they can premier on their platforms rather than go theatrical.”
In fact, as per Pillai, OTTs are on a dream run and are not able to manage the volume of content flowing on to their platforms. Besides, watching a film in a theatre today can easily set you back by a minimum of Rs 1,000 for two people. Add to that inflation and rising petrol prices. On the other hand, for about Rs 275 a month (based on annual subscription costs), you can subscribe to 3-4 top OTT platforms, he reasoned.
Also read: ‘RRR’ box office collection: Rajamouli's film overtakes Kashmir Files, Gangubai
Also read: ‘The Kashmir Files’ box office: Vivek Agnihotri-directorial paces towards Rs 250 cr