Things don’t look too good at ZEE5 these days. The homegrown streaming giant seems to be on the verge of imploding, if recent developments at the streamer are anything to go by. First, its proposed merger with Sony LIV fell through due to financial and strategic constraints.
Then came news that the streaming platform has laid off scores of employees — purportedly, in a bid to reorganise. But we all know what layoffs at any company mean these days — it just makes it clear that said company is fighting tremendous financial pressure.
Now comes the definite nail in the coffin – the resignation of Nimisha Pandey, ZEE5’s erstwhile head of homegrown originals.
On the face of it, Nimisha Pandey has resigned from the management team of ZEE5 to make way for strategic reorganisation. But scratch the surface, and you know things are very wrong at ZEE5. After poaching the high profile Ms. Pandey in 2021 — from Netflix, no less — it’s quite surprising that ZEE5 has now chosen to let her go.
It can mean just two things – ZEE5 is not happy with Nimisha Pandey’s work. Or it is simply winding up its original content creation division and concentrating solely on licensing content from outside sources. For instance, its short-lived deal with the prolific The Viral Fever, which has since moved on to greener pastures – read, Netflix and Prime Video.
Or maybe ZEE5 wants to make do with only releasing buzzy movies post their theatrical releases. It’s common knowledge that the only “hits” ZEE5 has had in recent times have been OTT releases of movies – Gadar 2, HanuMan, The Kerala Story, The Kashmir Files, and the like.
In either of the two scenarios, it’s disappointing news for the beleaguered streaming platform.
Once upon a time, ZEE5 was the poster child of India’s nascent streaming story. It launched with a bang in February 2018, notching back to back hit shows upon debut. with immediately sounded the bugle of competition for the more well-established Netflix and Prime Video. Along with ALT Balaji, it was one of two streaming success stories from India.
Six years later, ALT Balaji is but a dwindling speck on the Indian streaming horizon. And ZEE5 is on the verge of imploding. Sadly, no strategic reorganisation can help. Only a miracle can save it.
All we can do is wait and watch for the next move from ZEE5.