American streaming platform Netflix will premiere mystery thriller Ek Villain Returns on 9 September. The film starring John Abraham, Arjun Kapoor, Disha Patani and Tara Sutaria had released in cinemas end of July and made ₹41 crore at the box office.
Despite the failure of Jayeshbhai Jordaar, Anek, Attack and Shabaash Mithu, made at modest budgets, a number of mid-sized films are looking to cash in on the post-covid demand, as smaller films are critical for both actors as well as the exhibition sector.
However, ever since covid-led restrictions were eased, the audiences have been flocking theatres only for large spectacles, said trade experts. The content pipeline must keep flowing for the theatres to make up for the losses during covid and to grow.
Netflix lost 1 million global paid subscribers in the April to June quarter, faring better than the 2 million figure it had forecast, but paling in comparison to the 1.5 million added in the same period a year ago. Average revenue per membership (ARM) in the APAC (Asia and Pacific) region was down 2% year-on-year, it said, because of the price drop in India last December. The company that recently announced Microsoft as technology and sales partner has a lower-priced, advertising plan in the offing that will complement its existing plans and launch early 2023. There are also plans to monetize the 100 million plus households that are consuming but not directly paying for the service.
Over the last two quarters, the Reed Hastings-owned platform has attributed its slowing revenue growth to connected TV adoption, account sharing, competition, and macro factors such as sluggish economic growth and the impacts of the war in Ukraine.
Download The Mint News App to get Daily Market Updates.
More
Less
For all the latest world News Click Here
