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1. How the Pandemic changed Cinema
The last 18 months have been quite unique in recent history. COVID – 19 a
respiratory virus pandemic has affected almost 200 million people and 4 million
have died. Wave after wave the pandemic rages on. Most parts of the world have
experienced varying periods of locked downs. Lifestyles have altered. Ubiquitous
connectivity has ensured that while physical contact has been limited to immediate
vicinity almost all the people have remained connected to one another through
mobile phones and Internet. Economic activity had fallen substantially in the first
few months of the pandemic and it is returning towards Pre-Covid levels fast. Many
people are working from home, students are studying online and physical activity
has been severely restricted. Hospitality, travel, restaurants and organized retails
are the worst sufferers. Media & Entertainment too have witnessed a digital
moment. India is no different.
Almost all of us have spent more time during the past few months before a TV,
computer or mobile phone screen. Zoom calls, WebEx video conferences, virtual
meets and video chats have become the new social activity. Amidst several re-
runs across channels and watching news (or what masquerades as news) many
of us are catching up on new programming on one of the dozen odd streaming
platforms. Of course, avid cinegoers are missing their regular cinema visits. Some
of us who are fond of plays and concerts are getting our fix via virtual concerts. As
we gradually and grudgingly begin our usual routines will entertainment return to
its earlier magic? Indeed, but a lot more online. Cinemas have remained shut and
are just beginning to open haltingly. Exhibitors and cinegoers alike are keeping
their fingers crossed that soon they will be able to see the favourite film stars on
the Big Screen. As vaccinations pick up, more and more people will resume their
normal life. Entertainment will once again become its normal self.
Though people are now up and about in large numbers yet a big percentage of us
are staying indoors except for emergency outings. Obviously, we are spending
more time keeping ourselves informed and entertained. There’s a paradigm shift
from analogue to Digital. Newspapers are read as much online as in print.
Streaming services like Netflix, Amazon Prime. Disney Hotstar, Zee 5, Sony liv,
etc. have seen a 50% spike in viewership. In the last 34 months several new series
have streamed on these new streaming (OTT) platforms even as old favourites like
Big Boss, KBC and Music contests continue to attract large TV audiences.
Although a scepter of regulation looms large on digital content, for the time being
Indians are enjoying their dose of realistic, often violent and bold drama on OTT.
The recently concluded IPL has attracted more viewers than ever before. TV
advertising and viewership is back to normal.
Interestingly in the last 12 weeks. A dozen odd films including Dil Bechara, Sadak
2, Gulabo Sitabo, Shakuntala Devi, Khali Peeli, Raat Akeli Hai, Serious Men,
Chalaang, Lakshmi Bomb and Radhe have premiered on streaming platforms and
more are in the pipeline. Millions have watched these films and some have proved
popular as well. Movies are getting released directly on digital platforms without
2. waiting for the cinemas to open. There is a debate going on between cinema
owners and producers whether this is a breach of business protocol. Well to put
this in the right perspective let’s understand some ground realities. In 2019, India
produced 1800 films out of which only 600 found a theatrical release. Most others
struggled to get viewership on TV or online. With only 9000 screens India is a
hugely under screened country-China has 60000 and the US has 40000 screens.
Logically not more than 6 films should be released every week in cinemas. On the
other hand, the larger budgeted films or even some smaller eclectic movies do
need large screen viewing. For such films the streaming platforms are God sent.
In the next few months this sabre rattling will give way to the same uneasy
equilibrium as before. The top 100 films (in all languages) will garner maximum
eyeballs and revenue share. Another 200 odd films will get a patch theatrical
release, some films even getting as few as one or two shows a day. Earlier the
only possible source for these filmmakers was to try and sell to one of the satellite
channels or since the past two years it’s the streaming platforms. Since one does
not, thank God for small mercies, require a license to make a film India has been
overproducing movies far beyond what can be consumed both financially and time
wise. Multiplex owners actually need the top 50 films to shore up their balance
sheet so ultimately, they too will have enough content once the people start going
out more.
In the years to come theatrical release of films will be restricted to selected films.
Films which need a shared cathartic experience in a darkened auditorium. These
films would either be large space epics what Hollywood calls Event Films.
Spectacles, superhero films with all the bells and whistles like Imax, Atmos sound
and other sensory thrills. A few big star action, adventure or drama films will be a
part of the big screen specials. In due course a visit to the cinema will become a
special outing. Social distancing and masks to be intact.
One thing is certain budgets will have to come down for both films and Broadcast
TV. Advertising revenue is shifting fast from analogue media to digital. Social
distancing and other precautionary measures are now becoming necessary in the
post Covid world will mean reducing crowding on film and TV studios. This will
mean leaner crews and the end to the entourage economy perpetrated by the
stars. Elaborate health precautions and sanitization regimes are now mandatory
for studios and cinemas alike. Most of marketing will shift to online promotion and
Digital Out of Home (DOOH) reducing the extensive marketing budgets to more
manageable ones. Start to finish filming in a sanitized location will be preferred.
These films will have smaller budgets and arguably a little diverse content.
Films are the fountainhead of all other forms of modern entertainment. The larger-
than-life stars and the glamour and glitz of showbiz make cinema perennial. The
formats change, technology changes, the screen size changes but storytelling
never goes out of vogue. By next year end the Film Industry will be back with its
10% CAGR. A recent PWC report says the Indian Media & Entertainment Industry
will grow to over Rs 4 lakh crore in 2025. One can only hope that this actually
happens.