With the pandemic still very much around and COVID cases still surfacing, the Indian federal and State governments are in two minds whether to open the cinema theatres. Irresponsible behavior of a large section of the population too hasn’t helped

Alarmed by wanton flouting of all COVID norms by holidaying people in hill stations and uncontrolled crowds seen in markets of Delhi and other big cities, PM Narendra Modi had to take up the issue and warn Indians that the virus was very much around and any drop in COVID protocols could lead to another wave of the pandemic, which wreaked havoc leading to loss of human lives during the February-mat period this year.

But there’s a saying in the entertainment world: the show must go on. And it certainly is. Only that the action has shifted from theatres to streaming platforms as film producers, now unable to hold on to movies, are going in for digital releases and exploring various business models to maximize revenues.

A report in the Mint newspaper stated that video streaming platforms like Netflix, Amazon Prime and Disney+Hotstar have intensified their bids for rights to big films once they release in theatres or new ones that would like to go for digital releases.

The report said some of these Indian films are likely to get picked up for ₹80-90 crore (Rs. 800-900 million), higher than pre-pandemic rates of around ₹60 crore (Rs. 600 million).

“Among the mainstream films these platforms are vying for are Ranveer Singh-starrer ‘Cirkus’, Shah Rukh Khan’s ‘Pathan’, Vijay’s ‘Beast’ and Ranbir Kapoor’s ‘Shamshera’. Other than the star value, these films will be censor board approved and unlikely to create any ripples for streaming services looking to play safe. Final rates, however, will be a combination of an upfront fee and based on the box office performance,” the Mint report explained.

Mintalso cited a report by independent transaction advisory RBSA that says India’s video streaming market will touch $12.5 billion by 2030 and OTT user penetration will increase to 32 per cent by 2025.

Platforms are also keen on these films as everyone is aligning content with new government regulations, the Mint report said, quoted an industry executive who said that a certified film, cleared by the Central Board of Film Certification, is unlikely to hurt anybody’s sentiments.

However, it is pertinent to highlight here that proposed amendments to the Cinematograph Act by the government, if okayed by authorities, could arm the likes of the Ministry of Information and Broadcasting with powers to review the film certification board’s decisions.