OTT Platform are new heartthrobs and are trending as for New Bollywood Releases of 2020.
Since 25 March 2020, India has been under a strict lockdown to battle the virus. This has left about 9,500 theatres shut and have deprived Bollywood of box-office revenue. Seven films that include two Bollywood movies starring A-listers, such as Amitabh Bachchan and Vidya Balan, will reportedly stream the movies directly on an OTT platform following a deal.
Two multiplex chain operators’ shares fell by nearly 4% each. INOX expressed disappointment over the decision of a production house to release movies directly on an over-the-top (OTT) platform.
The BSE S&P Sensex lost 85.51 points or 0.27% to 31,037.38. Inox Leisure decreased to 4.40% to Rs 192.30, while PVR declined 4.85% to Rs 845.
In a statement, INOX said: “INOX would like to express extreme displeasure and disappointment on an announcement made by a production house to release their movie directly on an OTT platform by skipping the theatrical window run. The decision of production house to deviate from the globally prevalent content windowing practice is alarming and disconcerting.”
INOX added that the chain reserves all rights, including taking retributive measures against such ‘fair-weather friends.’
This move has been marked as a significant shift for the country’s Bollywood industry, relying on box office revenue. It has come as lockdown measures to slow the spread of the coronavirus wreaks havoc with film launches as per reports.
Even actress Anushka Sharma had also tweeted that her movie Paatal Lok is streaming on Amazon Prime. She even mentioned all the cast and crew of the film…. C S Films, Karnesh Sharma, Sudip Sharma, Manoj Mittra, Saurabh Malhotra, Prosit Roy, Avinash Arun, Jai Ahlawat, Neeraj Kabi, Gul Panag, Swastika.
Existing OTT platforms in India include Amazon Prime Video, Netflix, Youtube, Hotstar, Zee5, Alt Balaji, Voot, Sony Liv, Viuclip, etc.