The COVID19 pandemic has sent the world into a lockdown, which has further resulted into economical problems from which no sector has been spared. The film industry is one of the worst-hit with film production suspended and theatres shut down. Some filmmakers are now looking at other options like release of their ventures on OTT platforms without delay.
Amitabh Bachchan – Ayushmann Khurrana’s starrer Gulabo Sitabo was the first film to break the ice. Followed by the announcement of Janhvi Kapoor starrer Gunjan Saxena: The Kargil Girl to be released on a streaming site, Netflix. Reports suggest that Netflix has shelled out a staggering Rs. 70 crore to acquire the film, so one can call it a strategy well paid off.
Talks also suggest that Gulabo Sitabo was acquired for around Rs. 65 cr by Amazon Prime Video, and Janhvi Kapoor film, Gunjan Saxena: The Kargil Girl has been one of the most talked about and keenly anticipated releases of 2020, so it comes as no surprise to the industry that Netflix coughed up Rs. 70 crore to buy out the venture.
“Like in the case of Gulabo Sitabo, the sum paid by the OTT platform is much higher than the production value. As for Gunjan Saxena: The Kargil Girl, the cost of production is estimated to be between Rs. 25-30 cr, as against the Rs. 70 cr being earned from its sale. Now thanks to this, Karan Johar stands to make a neat profit even before the film hits screens.” a Source told Bollywood Hungama.
The recent transactions show that the filmmakers are making the best use of OTT platforms by turning around their strategies and to gain an upper hand when it comes to earning from the sale of a film’s digital rights in the pandemic.
