Juggernaut Productions, the manufacturing home owned by IN10 Media Community, has partnered with Umesh Shukla and Ashish Wagh’s Merry Go Spherical Studios to co-produce content material for OTT platforms.
Shukla is understood for movies akin to Oh My God and Amitabh Bachchan and Rishi Kapoor-starrer 102 Not Out. Juggernaut Productions has backed reveals akin to Shoorveer, Code M (seasons one and two), The Married Lady, Avrodh and others. The 2 firms will co-develop a collection primarily based on the Gujarati play, Ek Room Rasodu directed by Shukla.
“Juggernaut Productions is blissful to co-create content material with Merry Go Spherical and work with a gifted filmmaker like Umesh Shukla. This partnership will additional broaden our horizon of storytelling with diversified themes that resonate with audiences throughout the nation,” Samar Khan, chief govt officer, Juggernaut Productions (OTT) stated in a press release.
Video streaming companies had been anticipated to have spent round ₹1,920 crore to create authentic content material for India in 2021, a 17% rise over ₹1,400 crore spent in 2019. This comes after the companies had seen a pointy rise in audiences in the course of the 2020 lockdown.
The platforms will enhance spends together with on sports activities to ₹30,000 crore throughout 2021-25, based on the most recent Ficci-EY media and leisure trade report. The funding in authentic content material is sensible provided that viewers are studying to pay for the content material they devour.
In 2020, 29 million subscribers paid for 53 million OTT video subscriptions (not counting subscriptions bundled together with information plans), a determine that’s estimated to have risen to 39 million subscribers for 71 million subscriptions in 2021.
Surging viewership of streaming platforms in the course of the two years of the pandemic has helped double the earnings of actors enjoying huge roles in internet reveals and take up the wage payments to 50% of manufacturing prices at streaming companies from lower than 10% pre-pandemic, trade specialists stated.
Obtain The Mint Information App to get Day by day Market Updates.
Extra
Much less
Supply: Live Mint