- The global community is aware of how the pandemic-induced restrictions played havoc with economic activities leaving every country under tremendous fiscal pressure. The economic meltdown continues to hold sway even after three years courtesy of the aftereffects of severe restrictions placed back then. The detriment, destruction, and devastating fall from those unavoidable restrictions have rendered the global community battle-hardened to face up to the challenges that Mother Nature throws at us from time to time. None of the several verticals within the economy remained untouched by the vagaries of the pandemic-induced meltdown. One of the most severely hit verticals was the entertainment industry as well.
PC: Mint
- We are aware of how much India as a country is invested in the entertainment industry, especially movie production. Hindi cinema was considered prima donna in the movie production business, but movies from South India viz. Telugu, Tamil, Kannada, and Malayalam have carved out a welcome niche in the last few years. Things have turned a corner for the regional cinema industry with some of the biggest hits originating from there. Remember, when the pandemic was at its peak, the OTT platforms presented themselves as a viable alternative catering to the needs of the people craving entertainment sitting at home. The work-from-home and lockdowns ensured that the OTTs had a field day at the cost of regular cinemas.
- Note that the cinema halls were closed as part of the lockdown protocols crippling the entire film industry to no end. The artists – big and small – were severely affected alongside cinema halls facing the heat. The gradual opening of all economic activities including the conventional movie halls as and when the pandemic situation allowed hardly helped the entertainment industry. People by now were treated to some of the most comfortable and content-driven mediums vis-à-vis OTT platforms dishing out sumptuous fare much to the delight of the consumers. Even the foreign language content was lapped up by people starved of quality entertainment. In no time, OTTs had penetrated to such an extent that they became a de facto medium for entertainment.
PC: OnManorama
- The gradual opening of cinema halls initially failed to bring in audiences in great numbers. Note that a huge amount of money is pumped into producing a movie. The budget goes over the roof if the movie has an established superstar. Several big production houses failed to recover the invested cost because of the lack of patronage from the paying public. After a sling of reversals, the South Indian films started hitting the jackpot when Hindi movies fronted by some of the biggest stars miserably failed at the box office. This trend continued for a while. Thankfully, the Hindi movies have started hitting the bull’s eye raking in unprecedented moolah at the box office. This augurs well for the entertainment industry in general. Yes, OTTs can coexist with cinemas.
