Bollywood is in a poor situation with consecutive failures of big-ticket releases. With exhibitors canceling the shows due to fewer occupancies in theaters producers are forced to rethink their strategies for releasing feature films. After falling flat at the box office movies are also struggling to get a streaming platform for digital release. In such a situation, producers are opting for a direct OTT release skipping the theatrical release. In this regard latest report updates that Govinda Naam Mera will have a direct digital release.
The condition is so critical that actors are forced to accept a pay cut, and producers have shelved some scripts to lift the Hindi film industry with great content. The makers are sending movies that are not up to the mark for big screen experience to OTT platforms. Recently, Alia Bhatt’s Darlings and Janhvi Kapoor’s Good Luck Jerry were released on Netflix and Disney+ Hotstar respectively. Shahid Kapoor’s upcoming movie Bloddy Daddy backed by Ali Abbas Zafar will also premier digitally. Amidst this Vicky Kaushal and Kiara Advani starrer Govinda Naam Mera too will release directly on OTT.
Govinda Naam Mera produced by Dharma Productions is reportedly sold to Star network. The deal has been closed at no profit no loss. The movie has been sold at a whopping amount of 62 crores, which can be bifurcated as the digital rights account for 42 crores, and the satellite rights at Rs. 20 crores. The budget of the film is equal to the revenue fetched so Dharma Productions won’t be making any money. Dates are not announced yet but it is confirmed that Govinda Naam Mera will release on Disney+ Hotstar.
According to a source close to the development, “It’s a comic entertainer, but not exactly a film that’s ideal for the big screen in today’s world. Hence, the makers decided on a direct to digital premiere. The satellite and digital rights have been sold to Star Network for Rs 62 crore.”
The insider further added, “The digital rights are valued at Rs. 42 crores and the satellite rights at Rs. 20 crores. The initial market expectation of Dharma Productions for Govinda Naam Mera was Rs. 80 crores, but the buyers were not too keen to spend such a big amount on the film. Finally, the deal was locked at Rs. 62 crores. The budget of the film is equal to the revenue fetched. The team is now in a no profit no loss zone, which is still better than entailing losses in today’s world.”
Govinda Naam Mera is a comic entertainer written and directed by Shashank Khaitan. The film stars Vicky Kaushal, Kiara Advani and Bhumi Pednekar in the lead roles. It is produced by Karan Johar under the banners of Dharma Productions. The much-awaited film of Vicky will release on Disney+ Hotstar in November.