Bollywood failed to read audience pulse post-Covid?

Shying Away From Hindustan

- Definition of content changed a lot in last 5 yrs

- Particularly OTT content makes the difference

- Right from 'Inside Edge' to 'Karm Yuddh' audiences got a taste of watching engaging content

- Cinema grew 28% in 2021, but has not yet reached pre-pandemic level

- Over 100 films released directly on OTT platforms in last 2 yrs

- Most of film makers fail to make good cinema for theatres

Mumbai: It is no secret that 2022 has been a tough ride for Bollywood till date. Out of the many releases this year, only a handful films could make a mark for themselves at the box office.

This scenario surely makes us ponder over a question, 'Are we seeing the decline of Bollywood'?

Over the last half a decade, the definition of content has changed a lot for audiences. This is due to the advent of content being made available on over-the-top (OTT) platforms. Right from 'Inside Edge' to 'Karm Yuddh', audiences have got a taste of watching engaging content on their personal screen at their own comfort. The sheer convenience of getting entertained at one's own ease is what has drawn audiences to the world of OTT.

Talking to Bizz Buzz, Kailash Adhikari, founder, Happii Digital, says: "It was not only this convenience, but also the quality of content on these platforms that has kept the audiences hooked onto them. This can very well be seen from the current trend of Indian media and entrainment industry."

According to the latest EY-FICCI 2022 report, the M&E sector is expected to grow 17 per cent in 2022 to reach $25.2 billion, almost reaching to its 2019 pre-pandemic level. And digital media has firmly established itself as the second largest segment of the M&E sector. Digital advertising grew 29 per cent in 2021. Digital subscription also grew 29 per cent in 2022. India is amongst the largest content producers in the world with 2,500 hours of premium content being produced for OTT platforms in 2021.

Cinema on the other hand grew 28 per cent in 2021 but has yet not reached to its pre-pandemic levels.

More than 100 films have released directly on OTT platforms over the past two years owing to the pandemic. The advent of OTT platforms has opened a new revenue stream for theatrical films. If one looks at the business of films in the past two years, they were saved by these OTT platforms and satellite television channels only.

This, unfortunately, has made most of the production houses and film makers extremely reluctant to make good cinema for theatres. They have started taking their revenue coming from OTT platforms for granted and thus, having minimalistic focus on theatrical revenue. But a word of caution here for the film makers and the production houses is that not to take the OTT revenue for granted as a film's true test is only and only in theatres.

Cinemas were shut for majority of last two years and this has greatly influenced audiences content consumption pattern and habits. There is no doubt that cinema is here to stay and that the feeling of going to a theatre to watch the film can't be matched by any other medium. Having said that, film production houses and makers have to really reinvent themselves and the art of film making to attract the audiences back to the theatres.

If one considers what has worked or not so far in 2022, one would surely get a sense that audiences are looking for something more than just content from theatres.

Movies such as 'Brahmastra' were able to gather audiences by providing an altogether different cinematic experience. On the other hand, 'Bhool Bhulaiyaa 2' was able to entice and entertain the audience at the same time with its thrill and performance quotient. Content on OTT platforms are more realistic in nature and thus are able to connect better with its audience. Series such as 'Mirzapur', 'Scam 1992', 'Made in Heaven', 'Aarya' and 'Karm Yuddh' were able to relate with the audience and hold them captive onto their screens.

"I would just like to state that India is witnessing a growing consumer base which is hungry for good content, be it on television, films or OTT. Audience will surely invest their time and money if given the right content," Adhikari points out.

It was not only the convenience factor, but also the quality of content on OTT platforms that has kept the audiences hooked onto them. This can very well be seen from the current trend of Indian media and entrainment industry

- Kailash Adhikari, founder, Happii Digital