In a stunning piece of news, the media has learnt that A-list actor Akshay Kumar’s keenly awaited film Laxmmi Bomb has been pulled out of a direct OTT release. The movie had been picked up by Disney Plus Hotstar for a digital premiere, in the midst of the raging Covid-19 pandemic. While more than 70 films have buckled under the long wait for cinema halls to reopen and sold off to streaming platforms, Laxmmi Bomb and Bhuj are by far the biggest of them, featuring A-listers Akshay and Ajay Devgn.
Laxmmi Bomb pulling out of OTT release is a major win for theatre owners across the country, who have launched an aggressive online campaign to pressure the government into reopening cinema halls. If the government gives in, we can expect theatres to reopen by Diwali for sure.
So, with Laxmmi Bomb pulling out, has the death of direct OTT releases already begun? We think, not. The scenario in the near future is likely to be more balanced. Small and medium budget films, with smaller actors, will be happy to continue releasing on OTT as its a win-win for all concerned. Producers make an assured profit, something a theatrical release does not guarantee — not only in the current pandemic scenario, but always. And OTT platforms get the fuel they run on – content.
It is a fact that almost movie that has opted for a direct release on OTT has bombed. Spooked out by this, and the perceived lowering of the star status of A-listers, Akshay Kumar, who is also the producer of Laxmmi Bomb, has taken a surprising decision. The movie will likely see a joint theatre – OTT release whenever theatres open up.
With Laxmmi Bomb taking this route, it is obvious that other big ticket films, such as Master, Sooryavanshi, etc, that were rumoured to be eyeing a direct digital premiere, will definitely not take that route. It is a big precedent for all other movies to follow.
Stay tuned to Binged.com as we bring you fresh updates on the matter.
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