Yoodal-ay-hee-hoo!
Sometime back I wrote about a new OTT based filmmaking model emerging in India in Covid times. I am glad to see one such model getting already fructified. Three years back, when Yodlee films started making small budget films based on the stories of a new crop of writers, there were many who would have scoffed at their misadventure in the market dominated by the big budget start-studded Bollywood market. But three years down the line (God helps those, who help themselves!), the tide has taken a U turn with the explosion of viewership on the OTT streaming platforms, where even big blockbusters are getting forced to seek a release instead of waiting for cinema halls to open in a Covid infested environment. Yoodlee films, with 13 small budget films under their belt and highly appreciated and successful films like Chaman Bahar, Axone, Ajji etc. have not only proven that successful films can be made with without big stars, big sets, high tech VFX, big promotions and of course big budgets, they have opened doors for a new wave of filmmaking in India. What are the basics of this new model?
1.Films are made with a focus on the audience in digital space only (essentially meaning that the films need not have the elements, which are required to pull the front benchers in cinema halls like the item songs etc. as an add on in the film.)
2. Films are produced in a small budget (rumoured to be around 1cr) under strictly monitored conditions. An independent auditor, who is given a pre-approved budget with day-by-day break up of the expenses, continuously audits all expenses.
3. The choice of films is driven by the script and script only, which needs to have some fresh perspective of issue dealt therein. All scriptwriters are reportedly paid on profit sharing basis.
4. All films are made on a tight time schedule - within 9 months from start to finish. No time over overruns, no cost escalations.
5.All films are shot on real locations- no artificial sets.
6.The film crews unless they are extremely senior artists, take train to locations and expect no five star or vanity vans.
7. Most of the investment is put into production.
8. All films are less than 120 minutes.
9. As the content is sold directly to the OTT platform , it saves substantial amount of money required for promotion and distribution, adding to the financial viability of the project.
10. The just produce films own the IP of the content and are creating a pool of quality content- a perfect business model for a Venture Capitalist to step in.
Yoodlee, the way to go !!