The OTT Rights Crisis is crippling Telugu Film Industry big time. The industry has picked up the habit of completely relying on the OTT rights business for existence post-COVID. The remunerations have increased citing the OTT Biz and the budgets have shot up.
Now, there is a correction in the OTT market and the industry is suffering. All the major production houses have slowed down starting new films.
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Netflix is the only player buying aggressively. Amazon is in the game but slowed down. There is a stalemate in Zee5 and Sony due to the merger and Hotstar has also taken a cautious approach.
Netflix and Amazon have laid down strict timetables and are buying films accordingly.
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Industry had switched to the Timetable model and are planning their release dates according to the OTT players.
No film can decide a release date without consulting the OTT platform. At this juncture, there is another shock to the industry.
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Netflix recently purchased Indian 2 paying a massive amount. Sources say that it is an unprecedented disaster for the OTT Platform with no proper views and new subscriptions. The loss reportedly rolled some heads in Netflix and the parent company is reportedly revamping the entire buying strategy.
Going forward, there are going to be stricter norms for acquiring content.
All the existing big film deals are going to be revisited and revised if necessary. A big film releasing in December was initially promised 150 Crore by Netflix but now it was cut down by 20 Crore. The makers are worried that the amount will go further down if the trailer is not up to the mark.
The flexible pricing is going to be a part of the Netflix agreements in the days to come.
For small and medium-budget films, Netflix is reportedly planning to have its team right from the story development stages.
This is an indication that the OTT giant is slowly trying to gain a grip over the industry.
On one front, the industry is losing theater audiences by giving films for a four week window and at the same time is gaining nothing with these lower prices.
Probably, it’s time for the industry to come together and unitedly bring the eight weeks OTT norm to bring the audience to the theaters like how Bollywood is doing or else tougher times await the industry in the coming days.
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