Lockdown: A Stroke of Luck for OTT Platforms
The cases of the new variant of the coronavirus, 'Omicron,' were less than 500 a few days ago. But now there are over 6000. The number of cases stood first in Maharashtra and Delhi. Corona has raised its head again in a few days with the Omicron variant. The entry of the third wave has scared everyone, and the profit and loss directly related to it seem to be falling on the film industry as well. Cinemas are closed in almost every state. The Mumbai circuit is running with a 50 per cent spectator's capacity. The Uddhav Thackeray government has issued guidelines regarding the shows after the night.
Overall, the situation for cinemas seems to be becoming somewhat like the first and second waves of the pandemic. Once again, there is a possibility of lockdown, thereby hampering every business worldwide. Although it depends on the situation in the coming days, how long it will be, there is no chance that the theatres will bear the loss. However, the third wave of the pandemic is almost like a boon for OTT.
How the OTT Platforms are getting an advantage during Covid?
The growth of all OTT platforms is a clear indication of how the pandemic took OTT to a height in India like other countries. If in the third wave also, the conditions of theatres will be seen as before, then the OTT platforms will directly benefit from it. Waiting for their movies to be released in theatres, the directors have no choice other than OTT in the third wave. Before Covid-19 and lockdown, many films were scheduled for release; this led to great competition and clashes on the box office between the big-budget movies. During the Covid, OTT became a new platform for releasing films and web series and was preferred by many people. Either wait for a long time for a better release which doesn't look very safe even till 2023, considering the multitude of films, or take damage in the clash, or choose OTT mode. OTT has become the trending and convenient way of entertainment and looks to be on the top even after the end of the pandemic.