OTTs begin to pick up festival favourites after critical acclaim

All We Imagine As Light, which was nominated for the Palme d’Or and won the Grand Prix at the Cannes Film Festival, besides receiving two Golden Globe nominations, is now streaming on Disney+ Hotstar after a small release in cinemas. Even titles like All That Breathes and Girls Will Be Girls have also found their way to OTT services that want to cater to up-market audiences.

Also Read | Rise of connected TVs prompts OTT platforms to focus on family-centric shows

“Several streaming platforms believe these niche, critically acclaimed films can do better in terms of viewership than regular commercial movies,” said independent trade analyst Sreedhar Pillai. “In any case, OTT as a medium was supposed to encourage and promote arthouse cinema though it may not have turned out that way entirely.”

A specific audience demographic waits for experimental movies to premiere on OTT but the mandate for streaming services to wait for theatrical box office has impacted the fare that becomes available for such viewers. But as few as they may be in number, when a film breaks out in the international film festival circuit, especially the way ‘All We Imagine As Light’ did, it increases its chances of striking a good OTT deal.

Also Read | A new streaming customer emerges: The subscription pauser

While there is definitely an upmarket, elite audience base for festival films, streaming platforms also need to ensure there is enough variety on offer for viewers, apart from mainstream movies releasing theatrically, film producer Yusuf Shaikh said.

“Everyone is looking for those breakout festival hits that come with a brand and are driven by enough hype and publicity, to be spoken about,” said Shaikh. “Streaming platforms are also realising they need to cater to diverse audiences and host content across categories, else there won’t be much difference left with linear television.”

Also Read | As originals dry up, OTTs face subscriber test

In case of titles like Girls Will Be Girls and All We Imagine As Light, the conversation around acclaim garnered in the festival circuit translates into a certain credibility for the film, he said, adding that a streaming platform acquiring it becomes a case of one brand coming together with another.

While incomparable to the ₹100-crore-plus acquisition rates for some mainstream theatrical hits, festival favourites can manage impressive deals that help recoup their modest cost of production easily, especially if negotiations begin after the film has been written about in the international press and garnered awards or nominations.

Also Read | Netflix needs to put on another big subscriber show

“While streaming services have not modified their policy of picking up commercial films, everyone is also looking for these good projects that can target not just Indian but also overseas audiences,” film producer Girish Johar said. “The diaspora is a critical factor when making these decisions.”