The Coronavirus pandemic lockdown has affected the cinema industry so badly that hundreds of cinemas may never reopen now. The losses suffered by cinemas due to the two lockdowns have been back-breaking, especially for single-screen cinemas which were not doing too well even before the pandemic.
Meanwhile, will the massively growing OTTs replace cinemas or not- Movie Business Astrologer Hirav Shah will throw light on the same, in this article.
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The pandemic has lasted longer than anyone could have imagined and has impacted businesses across. The movies business in India remains one of the most severely afflicted, with plenty of blockbusters having to realign themselves to release on streaming platforms and OTT services, instead of theatrical releases.
Multiplexes and theatres have borne the onslaught and continue to face existential challenges for over a year and a half, due to infinite shutdowns and lockdowns.
But, this time some big Indian films are finally lined up for a partial theatrical release.
Yes, some big ticket releases have lined up for the coming weeks, coupled with Hollywood blockbusters…
But, will moviegoers return to their favourite theatres ?
Will cinephiles return back to the cinemas?
Will film lovers come back to film halls?
So far, the audience is sharply divided on the matter. On the one hand, are people who have been endlessly waiting to go back to Cinemas, eagerly. On the other hand, are folks who are wondering whether cinemas are even needed in the age of OTT, and who now prefer watching films from the comfort and safety of their homes.
Current Scenario of OTT
Many single screens are dead and gone. For example, from having 1500 single screens, Karnataka is now home to just 600 theatres.
To make things worse, OTTs are buying films of ‘superstars’. This trend will again bring down occupancy in theatres.
People’s behavior is a clear indication of OTT’s predominance. A lot of people romanticise the big screen, though, at least that’s what is heard.
But, reality is different, yes…
Many in the buses or flights or in the market are always glued to the latest shows on their phones. This is a “fact” of today.
In the future, people will go to theatres only if the film is an “event film” and only if the film deserves an outing.
“Makers and studios will have to pull up their socks. It’s now or never”…Says World Renowned Movie Business Strategist cum Astrologer, Hirav Shah.
The Hirav Shah Advice
1.Use these times to focus on restructuring and reinventing the business model.
2.The film studios need to undertake an organisation-wide business restructuring exercise to navigate the current challenges, and focus on growth areas. While this restructuring includes cross-leveraging efficiencies, it also, unfortunately, leads to layoffs, in these unprecedented times.
3.With a sharp focus on the future and on digital business, which has grown significantly in the past few years, the industry needs to focus on its innovative content, local and international partnerships, and increased focus on technology.
4.The production houses and studios need to lead by example now…
It’s time.
Do not shy away from bringing the film to the cinemas rather than premiering it on OTT.
Maybe people would not be returning to the cinemas in full force due to the fear of contracting the Coronavirus, but this needs to start.
“Lead By Example”- Advice Hirav Shah.
Final Thoughts
It will require a concerted effort on the part of everyone and all the sectors of the film industry to get it back on track. The industry has to
do it all it can, to revive business in the cinemas.
And yes, OTTs will not replace cinema rather never replace cinema. They will play both sides of the same coin to enhance the value of the coin- Concludes Movie Business Advisor & Astrologer, Hirav Shah.
