New Delhi: Malayalam star Nivin Pauly’s latest film Kanakam Kaamini Kalaham will premiere directly on Disney+ Hotstar on 12 November. The film has been directed by Ratheesh Balakrishnan Poduval and stars Soubin Shahir along with Pauly and director Poduval himself.
Hit the hardest by the covid-19 pandemic as cases continue to rise in Kerala, the film exhibition industry in the state is estimated to have lost Rs. 500 crore in revenue. Kerala releases roughly 100-120 movies in theatres and reopened cinemas last week.
The state is home to about 545 theatres, including single screens and multiplexes. While several stars such as Fahadh Faasil have found a ready audience on OTT (over-the-top) streaming platforms, quite a few films have remained stuck, unable to find buyers with no clarity on when theatres will reopen or be able to play the backlog of films that has accumulated.
A large number of audiences has discovered the charm of Malayalam cinema on video streaming platforms. Trade expert say these titles are primarily being snapped up by three major players - Netflix, Amazon Prime Video and Disney+ Hotstar.
“A film starring Fahadh Faasil or Mohanlal may be paid even close to Rs. 20 crore today, depending on the appeal of the content and an average Malayalam film too will be picked up for Rs4-5 crore, making good money for the producer. But for every one film that an OTT platform chooses, it rejects five," independent trade analyst Sreedhar Pillai had told Mint in an earlier interview.
“Our financial losses are widening by the day. OTTs are not a solution to this crisis, they can take about 10-15 of the films that are ready, at best. Plus, they go only for certain names and stars," Malayalam film director, distributor and exhibitor B Unnikrishnan had said earlier. Streaming platforms cannot really come to the rescue of big-budget films, he added, which will not be able to recoup their investments by their acquisition rates alone.
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