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Producers Guild India Releases Statement About Films Opting For OTT Release

Producers Guild India recently released a statement about films opting of OTT release instead of waiting for theatrical release. Have a look at the statement.

Producers Guild

Producers Guild of India recently reacted to the statement released by INOX theatres in which they had expressed their displeasure regarding the decision of the filmmakers to release films on OTT platforms. Producers Guild India was of the opinion that the current times call for a few measures to ensure that least losses have to be dealt with. In the two-page notice, it clearly stated why the producers have the liberty to go for OTT platforms.

Producers Guild India releases statement on OTT releases

Producers Guild India recently released a statement on Twitter where it made an attempt to explain why OTT releases at this point cannot be completely out of the picture. The statement sheds light on the grave effect the lockdown will have on every small aspect associated with the film industry and pointed out how some members of the industry have been asking the guild to take "retributive" measures against producers who have opted to go for OTT release.

It gave clear points on the grave losses that the producers of different films are having to go through. It stated that huge losses are coming the films’ way due to sets being torn down plus the cancellation charges, both of which is being covered by producers with no help from insurers. It shed light on interest cost added on top of the money spent on the film, with no certainty as to when theatres will reopen. The statement highlighted the point that the reopening process and time will be different in each state as the decision will be taken after assessing the intensity of COVID 19 outbreak in each area. Hindi films will be the last to resume since they are released across the country. Even when cinemas reopen in India, the overseas market will be highly affected which will be a huge loss for the producers.

The statement by Producers Guild also put out the fact that whenever cinemas reopen, low occupancy is expected due to mandatory social distancing and paranoia in the minds of the audience related to public gatherings. The smaller and medium scale films will suffer the most, according to the statement, due to the backlog piling up.

Read Kulmeet Makkar, CEO Of The Producers Guild Of India, Passes Away Due To Heart Attack

Also read Ashoke Pandit, Subhash Ghai & Others Mourn Demise Of Producers Guild CEO Kulmeet Makkar

Given this combination of factors, it is only natural that Producers who have already invested heavily in their films with theatrical revenue assumptions that are no longer feasible will seek out all avenues available to recover their investment and to stay in business.

The Producers Guild would like to emphasise that we are unequivocally and passionately supportive of the theatrical release of films, and a theatrical release will always be the preference for movies that were conceptualised as cinematic experiences. But these are unprecedented times for all the reasons mentioned above, and it is imperative to see things in that context.

Read Safety Protocol Being Drafted To Resume Shooting Post Lockdown: Producers Guild Of India

Also read 'To Protect Our Caretakers': Producers Guild Of India And Others Launch 'Mission Suraksha'

Image Courtesy: Canva

 

 

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