Ready web show struggles to find OTT takers


New Delhi :Many small-time creators who created independent web series for streaming services are struggling to find buyers as subscriptions plateau and platforms spend less on content. Unlike feature films, web shows also cannot be released in theatres.

Streaming platforms typically commission long-form web series and spend on post-production; However, the explosive demand for web content during the pandemic attracted many newcomers who planned and produced web shows so they could later come to streaming platforms. About 30-40 such small to medium scale titles were created at a cost of Rs. Industry officials said Rs 7-8 crore each were not finding buyers.

“There was a great need to rationalize costs across all platforms. The hunger was really high during the lockdown, and production was halted, so platforms had to take ready content even if they were not happy with the quality in some cases. But now, there is no room for average fare, and every platform has its own pipeline, so there is no shortage. This may sound like bad news to some people, but it means that normality will no longer survive. “Great content will always find takers,” said Nimisha Pandey, chief content officer of Hindi originals at ZEE5. He said he regularly receives pitches for ready-made shows.

A senior executive at a content studio said the model of first creating and shooting a web series and then presenting it on a streaming platform can work only in rare cases, such as for Aditya Birla-owned production house Applause Entertainment. “It’s a real crisis for other people who don’t have the same impact. Also, content creation is a very unorganized business, so a lot of investors often get duped into making shows that don’t see the light of day,” said the executive on condition of anonymity. There are also talks for producers. Equally common, the official said, is multiple platforms jostling for the best price and eventually settling on a smaller platform at a lower price after the top guys say no. Many shows are sold without making any profit or at a complete loss.

Media and entertainment industry experts said the number of web shows commissioned or launched by streaming platforms has declined, as has the budget for them, while the TV-plus model—released in a sequential manner—has declined. Shows with 50-100 episodes have increased. Land, where large quantities are required. “Platforms are no longer experimenting too much with styles and want to stick to templates that have performed well in the past,” said Karan Taurani, an analyst at Elara Capital Ltd. The recession will definitely affect the production houses whose growth rate will slow down. ” He added.

“With strict government regulation and the advent of AVOD (advertising-based video on demand) models, content has to be more palatable, and premium shows now make up a smaller percentage of the total budget. “The appetite has definitely gone down, and over-the-top (OTT) streaming platforms are no longer spending much, this has been written on the wall for some time,” said Siddharth Anand Kumar, senior vice president, film and events. ” Saregama India Limited, which owns the boutique studio Yoodlee Films.

Kumar said, the company recognized this change and decided to move towards regional language cinema which can be released in theatres.

“Exciting news! Mint is now on WhatsApp channels Subscribe today by clicking the link and stay updated with the latest financial information!” Click here!

Leave a Comment

“The Untold Story: Yung Miami’s Response to Jimmy Butler’s Advances During an NBA Playoff Game” “Unveiling the Secrets: 15 Astonishing Facts About the PGA Championship”