Ready web shows struggle to find OTT buyers

livemint.com:

NEW DELHI : Several small-time producers who had created independent web series for streaming services are struggling to find buyers as subscriptions plateau and platforms spend less on content. Unlike feature films, web shows cannot be released in theatres either. Streaming platforms typically commission long-format web series and subsequently spend on production; however, the explosive demand for web content during the pandemic attracted many newcomers, who planned and produced web shows that they could pitch to streaming platforms later.

Around 30-40 such small to mid-scale titles made at a cost of ₹7-8 crore each are unable to find buyers, industry executives said. “A much-needed cost rationalization has definitely happened across platforms. The appetite was really high during the lockdown, and productions were stalled, so platforms had to pick up ready content even if they weren’t happy with the quality in some cases.

But now, there is no space for average fare, and every platform has its pipeline, so there is no shortage. It may seem like bad news for some, but it just means that mediocrity will no longer survive. Great content will always find takers," said Nimisha Pandey, chief content officer of Hindi originals at ZEE5.

She added that she receives pitches for ready shows regularly. A senior executive at a content studio said the model of creating and shooting web series first and then pitching to streaming platforms can only work in rare cases, like that of Aditya Birla-owned production house Applause Entertainment. “It’s a real crisis for the others who don’t have similar clout.