Streaming platforms, during the last two years, have turn out to be extra threat averse after their investments on content material backfired and did not earn returns in the course of the growth interval of the pandemic
Streaming platforms, during the last two years, have turn out to be extra threat averse after their investments on content material backfired and did not earn returns in the course of the growth interval of the pandemic
The highlight is on the Kannada movie trade after many many years. The blockbuster success of the KGF franchise and the not too long ago launched Kantara past the State at the same time as Bollywood has did not cater to the viewers tastes at the moment has positioned Kannada content material in a singular place available in the market at the moment. Though there was a lot enthusiasm for Kannada movies throughout the nation, it appears to haven’t translated into area for Kannada content material on streaming platforms.
A bunch of filmmakers, who’ve been pitching internet sequence to streaming platforms, mentioned the frequent response they get was to understand their pitch and ask them if they may make the sequence in Hindi, Telugu or Tamil and are usually not open to Kannada content material.
“When we pitch for original web series or films to various streaming platforms, many times, we have been asked to produce the same content in Hindi or other languages with actors from those languages. They are not even ready to accept an offer to produce the content in Kannada and dub it in other languages. This has not changed,” mentioned B. Suresha, filmmaker and main producer of Kannada movies and tv content material.
Unexplored market
Kannada nonetheless stays a largely unexplored and untested marketplace for streaming platforms, which, during the last two years, have turn out to be extra threat averse after their investments on content material backfired and did not earn returns in the course of the growth interval of the pandemic, mentioned a senior content material curator in a number one multinational streaming platform.
“Streaming platforms are like e-commerce ventures; nobody is making money. Everybody is investing hundreds or thousands of crores with a hope that the model will break even some day. But wrong decisions on which content to bet has backfired on many of these streaming platforms and amidst an economic slowdown, they have become extremely risk averse,” mentioned a senior advertising and marketing government at one other streaming platform.
Paid subscribers
Industry insiders additionally mentioned many of the paid subscribers of streaming platforms in Karnataka come from Bengaluru. Bengaluru is a multilingual market the place Kannadigas are in truth a minority.“There is no great demand for exclusive Kannada content from Bengaluru, where most subscribers of all streaming platforms presently are. Subscribers here are so diverse, they see content in many other languages. So platforms think in the given circumstance, it doesn’t make sense to invest on a diverse portfolio of Kannada content,” an government from a streaming platform mentioned.
With the streaming platforms in expansionist mode however threat averse, it has created a brand new drawback for unique impartial Kannada content material to make their option to these platforms. “Today, the ‘number guys’ are sitting to decide on content at most platforms. The sole criteria guiding investment on content in the Kannada market today is to see whether this product will get the platform new paid subscribers. Platforms are not looking to populate their catalogue with diverse content. Already under financial pressure, they need new subscribers and a film or a series needs to bring them that,” mentioned a advertising and marketing government at a streaming platform.
Marquee names
This has nearly replicated the box-office on streaming platforms too. “Today, streaming platforms are only open for content starring matinee idols and superstars, mega budget blockbusters and not for smaller films that do not boast of any stars. It is the KGF that they are interested in,” mentioned Srinivas Sribhakta, producer and content material curator for streaming platforms. This has soured the hope and promise streaming platforms as soon as held that impartial content material would lastly be capable of overcome the punishing economics of theatrical releases and scale, making them unviable.
Badava Rascal, a movie starring Dhananjaya, Neerdose, starring Jaggesh, and an unique OTT season of Sudeep-led Big Boss, introduced in lots of new subscribers to a Kannada platform, sources mentioned. So did, Puneeth Rajkumar starrer Yuvarathna and the KGF franchise for Amazon Prime, mentioned trade sources. Rakshith Shetty starrer Charlie 777 and Raj B. Shetty directorial Garuda Gamana Vrishabha Vahana, which had profitable theatrical runs, have additionally finished nicely on streaming platforms throughout the nation, sources mentioned.
“The platforms are not ready to bet on any content which doesn’t have a marquee name or has already had a successful theatrical run at the box office like films Love Mocktail or Dia,” an trade insider mentioned. This has additionally created unofficial monopolies over the area, many rue. “Today, anything coming out of the stables of Hombale Films that produced KGF franchise and Kantara, and from the Rakshith – Rishab – Raj Shetty stables are easily lapped up and others are not able to break in,” a filmmaker mentioned.
“What KGF and Kantara have done to Kannada cinema is immense. But we need more production houses to produce good content and for the people, streaming platforms to embrace it for the industry to grow. We need to keep up this momentum, like Malayalam cinema has been doing since 2012-13. For instance, we got Adarsh Eshwarappa’s Bhinna sold as a Zee5 original in 2019, the first Kannada cinema to do so. But till date no other Kannada film has gone as an original on that platform in three years, despite Bhinna doing well for them even now,” mentioned Mr. Sribhakta.
“In Telugu and Tamil, most of the star actors have begun production houses and they are producing content-oriented small budget films and selling them to streaming platforms by the force of the market they command. There have been deals between the stars and these production houses to buy these films, and the stars will also sell blockbuster films they star in, to the same platforms. There was one such attempt in Kannada by Puneeth Rajkumar, whose productions French Biriyani, Law and One Cut Two Cut were sold as Amazon Originals. But it is sad that he passed away and this project seems to have been aborted. We hope other stars will take over his mantle,” mentioned a content material curator who didn’t want to be named.
Possible merger
Meanwhile, a senior government at one of many streaming platforms mentioned the trade was now in a state of flux as Voot and Jio Cinema, Zee5 and SonyLiv are anticipated to be merged into single apps and these platforms have been now regional markets for the following massive growth of their subscriber base.
“Streaming platforms are looking for more subscribers to cut their losses and that can only come from moving beyond the saturated markets and cities. 2023-24 will begin the exploration of regional markets and Kannada is definitely on everyone’s mind especially after the pan Indian success of KGF and Kantara. Some projects that were already in the pipeline have also been put on hold for 2023-24,” mentioned a senior advertising and marketing government at a number one streaming platform in Karnataka.
Source: www.thehindu.com