JioCinema to stream Sonam Kapoor-starrer ‘Blind’

New Delhi: JioCinema, the video streaming platform owned by Mukesh Ambani’s Reliance Industries Ltd, will stream Sonam Kapoor-starrer Blind on 7 July. The film directed by Shome Makhija will stream for free.

The return of Bollywood to the big screen has meant an end to the aggressive turn video streaming platforms had taken to acquire films for direct digital premieres, said trade experts. Not only have most films, including big-ticket, mass-market titles such as Coolie No.1 performed below par, producers have also realised the returns are higher when a digital premiere follows a film’s release in theatres.

Platforms are no longer keen to acquire films for digital releases, which was the need of the hour during the pandemic. Most services want to invest in building series or original films instead, where they control the IP. The overall cost structure is also favourable for platforms when they commission an original series or film instead of acquiring them.

OTT platforms are looking to own IPs through films rather than paying a hefty premium for acquiring films from outside that they can only own for five to seven years. Films also have great recall and can be watched in one go.

Jio Studios, a unit of Reliance Industries Ltd, may invest as much as ₹3,000 crore to boost Jio Cinema’s subscription and advertising revenues, according to the estimates of three film trade experts.

This April, Jio Studios announced a plan to create a repertoire of 100 movies and web originals to bolster the streaming platform’s standing and retain customer engagement after the end of the Indian Premier League (IPL) season.

The company started work on several movie projects in the pre-pandemic days and is now likely to directly stream a few on its OTT platform, and some others may be released in theatres.