Small-budget films bank on pent-up demand, go for theatrical release

A number of small-budget non-star films that could have easily taken the direct-to-digital route are lining up for theatrical showcasing, buoyed by the response to recent releases like KGF: Chapter 2, RRR and Gangubai Kathiawadi, demonstrating pent-up demand among audiences that have remained at home for long. 

Films in Hindi and regional languages like Marathi and Gujarati, such as Operation Romeo, Love in Ukraine, Chitrakut, Nayika Devi and The Conversion are among the titles that do not star familiar faces but will try their luck at the box office in the coming weeks. While audiences have shown keenness to return to cinemas in the past few weeks, trade experts point out that, in fact, several of these films did not find takers on OTT platforms, which are now playing safe, and want to gauge purchase potential based on box office response.

“With big films, you can expect hype and buzz from the first show itself. But the thing with small-scale films is that they are dependent on word-of-mouth,” Rajendar Singh Jyala, chief programming officer at INOX Leisure Ltd told Mint. The unprecedented success of political drama The Kashmir Files, considered a small film before release, shows that scale and budget of films or the star cast involved doesn’t really matter, Jyala said.

Having made over ₹250 crore at last count after its release in cinemas mid-March The Kashmir Files would have ordinarily been acquired by a streaming platform for less than ₹20 crore, according to trade experts. 

Unlike the unlimited potential of a film at the box office, there is a ceiling on how much OTT services can shell out, given that they work with annual budgets that are earmarked in advance, especially when the film in question doesn’t feature big names or isn’t backed by a top mainstream production house. 

An independent theatre owner pointed out on condition of anonymity that while streaming platforms were discovered by several new audiences during the covid-19 pandemic, they cannot supersede the theatrical business. “A theatrical release is like a stamp of approval for any producer. There is always more chatter for content that does well at the box office compared to one, even gaining acclaim online. Even actors know that OTT cannot create stars and streaming will take a backseat when it comes to theatrical release for any filmmaker,” the person said. 

Without doubt, pent-up demand among audiences locked up at home for months is helping. In an earlier interview, Ashish Saksena, chief operating officer, cinemas, BookMyShow said that this March, the ticketing site had clocked its highest monthly ticket sales ever, beating the previous record set in January 2020.

To be sure though, streaming platforms are themselves playing safe now, having burnt their fingers with several film acquisitions over the past two years that didn’t result in significant subscriber increase. “OTTs have definitely pulled back, leaving no option for these small films but to go to cinemas first. Platforms are looking at cost correction by paying only after gauging box office response and not having to spend on publicity and advertising of small films from scratch,” said a trade expert who did not wish to be named.