Kangana Ranaut says all OTT platforms running in losses, have slashed their budgets by half: ‘They are in panic mode’

01/03/2024

Actor Kangana Ranaut says streaming platforms may not be the saviour people were thinking of them to be as “none of them” are raking in profits.
The actor said there is panic across the board in the streaming space, as the big dream of accessible entertainment is crumbling.
During an event of TV9 Bharatvarsh, the actor was asked if the arrival and the subsequent boon of the OTT platforms in the country has made it a better place for actors, where barriers of gender and age do not exist.
“You are portraying a very rosy picture of OTT,” Kangana said as she went on to reveal that she is in the “center of it”, she knows that the picture is “not as rosy” as it seems.
“It had a bit of an upsurge in the beginning of COVID, where everyone felt it looked promising. Then there was this great fall. I can say with certain assurance, that none of them (the platforms) are performing well. They are all running in losses,” she added.
The actor, who herself had an OTT release with her production venture Tiku weds Sheru, said streaming platforms ate into the existing audience share cultivated by cinema halls, instead of creating new customer base. Tiku Weds Sheru, headlined by Nawazuddin Siddiqui, was released on Prime Video.
“Whenever a film did a blockbuster business, it had footfall in the range of two-three crores. OTT has divided this theatre-going audience in compartments. They have some millions of subscribers, but are not able to cultivate new audiences, which is a big setback. They have taken away (the audience) from all your moderate budget films like English Vinglish, Queen, Piku, from the theatres.
“Today you can’t image a Queen becoming successful in cinemas the way it did back then, because they have taken away that audience.
The satellite market has shattered, those people are also a bit disoriented. We also run the risk of losing them to other avenues like free entertainment or convenient entertainment.
My father used to watch TV, now he is on YouTube all the time.”
When asked, if OTT will be a threat to the film industry, Kangana said it is too early to jump to any conclusion but added, “I don’t know where it is headed. Their budgets are slashed by half, they are all running right now in panic mode.
Let’s see, we should give it more time. having said that, theatrical business is on ventilator for sure.
We have these high budget films that are doing well but the rapid releases we used to have, which used to run the business of films, that has definitely disappeared because of OTT.”
Kangana has been having an almost decade-long rough year at the box office, with none of her films since the 2015 release Tanu weds Manu Returns attaining a clean hit tag.
She will now hope for a better 2024 as she gears up for Emergency, which features her in the role of India’s former Prime Minister Indira Gandhi. Directed and produced by Kangana, the film is gearing for a global release on June 14.

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