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Film exhibition majors <keyword id="799" type="General" weightage="100" keywordseo="pvr" source="Orion">PVR</keyword> and <keyword id="6407732" type="General" weightage="20" keywordseo="INOX" source="Orion">INOX</keyword> Leisure on Sunday announced merger. Accordingly, the Board of PVR and the Board of INOX Leisure at their respective meetings approved an all <keyword id="13478774" type="General" weightage="20" keywordseo="stock-amalgamation-of-INOX-with-PVR" source="Orion">stock amalgamation of INOX with PVR</keyword>. "The amalgamation is subject to approval of the shareholders of PVR and INOX respectively, stock exchanges, <keyword id="35210" type="General" weightage="20" keywordseo="SEBI" source="Orion">SEBI</keyword> and such other regulatory approvals as may be required," a joint statement said. "Upon obtaining all approvals, when the merger becomes effective, INOX will merge with PVR." As per the statement, shareholders of INOX will receive shares of PVR in exchange of shares of the former at the approved exchange ratio. "Post the merger, the promoters of INOX will become co-promoters in the merged entity along with the existing promoters of PVR." "Upon effectiveness of the scheme, the Board of Directors of the merged company would be re-constituted with total board strength of 10 members and both the promoter families having equal representation on the Board with 2 board seats each." According to the statement, <keyword id="6738750" type="General" weightage="50" keywordseo="ajay-bijli" source="Orion">Ajay Bijli</keyword> would be appointed as the Managing Director and Sanjeev Kumar would be appointed as the Executive Director. "Pavan Kumar Jain would be appointed as the Non- Executive Chairman of the Board. Siddharth Jain would be appointed as Non-Executive Non-Independent Director in the combined entity." "The combined entity will be named as PVR INOX Limited with branding of existing screens to continue as PVR and INOX respectively. New cinemas opened post the merger will be branded as PVR INOX." Besides, post the merger, PVR promoters will have 10.62 per cent stake while INOX promoters will have 16.66 per cent stake in the combined entity. "The partnership of these two brands will put consumer at the centre of its vision and deliver an unparalleled movie going experience to them," said Ajay Bijli, Chairman and Managing Director of PVR. "The film exhibition sector has been one of the worst impacted sectors on account of the pandemic and creating scale to achieve efficiencies is critical for the long term survival of the business and fight the onslaught of digital OTT platforms." In addition, the combined entity will become the largest film exhibition company in India operating 1,546 screens across 341 properties across 109 cities. "The combination would augur well for the growth of the Indian cinema exhibition industry, besides ensuring tremendous value creation for all stakeholders, including customers, real estate developers, content producers, technology service providers, the state exchequer and above all, the employees." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/the-internet-made-me-do-it-how-flying-chappal-short-videos-are-normalising-physical-abuse/articleshow/90445408.cms">The internet made me do it: How flying chappal short videos are normalising physical abuse</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/how-this-former-vedantu-cofounder-is-taking-on-instagram-and-snapchat-to-build-social-media-for-teens/articleshow/90443442.cms">How this former Vedantu cofounder is taking on Instagram and Snapchat to build social media for teens</a>

PVR and INOX Leisure announce merger

<ul><li>Theatres are opening up in Maharashtra today and <keyword id="799" type="General" weightage="100" keywordseo="pvr" source="Orion">PVR</keyword> has taken this opportunity to launch a luxury offering, <keyword id="12351605" type="General" weightage="20" keywordseo="pvr-maison" source="Orion">PVR Maison</keyword> at Jio World Drive in BKC.</li><li><keyword id="3185120" type="General" weightage="20" keywordseo="renaud-palliere" source="Orion">Renaud Palliere</keyword>, CEO, The <keyword id="12359381" type="General" weightage="20" keywordseo="luxury-collections" source="Orion">Luxury Collections</keyword>, <keyword id="89807" type="General" weightage="20" keywordseo="PVR-Cinemas" source="Orion">PVR Cinemas</keyword> tells us all about the new offering and why he is optimistic about the segment's revival.</li></ul>Maharashtra, one of the key markets for the revival of the multiplex industry, is finally reopening cinema halls today. And right in time for the reopening and to dazzle the audience back to screens, multiplex chain PVR has launched a new luxury boutique property at Jio World Drive in the suburban Bandra Kurla Complex (BKC). The architecture of this 6-screen multiplex is inspired by the popular French Grand Maison and comprises foyers, luxurious lounges, libraries with art and curiosities, grand living rooms and open kitchens with premium food concepts. On why this was a good time to open a luxury multiplex, Renaud Palliere, CEO, The Luxury Collections, PVR Cinemas said, “I think this was the perfect time and there are several reasons for that. Firstly, we had the benefit of opening up in other states and we've seen very good response for the marketplace. There has been some pent-up demand for out-of-home entertainment. People have been cooped up for so long that they are really keen to go out, obviously after following all the safety protocols. They are happy to go back to some sense of normalcy and we’re sure we’ll see that here as well. Moreover, the kind of footfall we’ve been observing in malls is a clear indication that people are coming back out en masse. So we thought this was the perfect moment to give our customers and the market a sense of hope, that there's light at the end of the tunnel.” PVR has been working on increasing its luxury offerings to cater to a growing demand in the segment. Before the pandemic hit, the multiplex chain had plans of adding close to 15 screens by 2020, a plan which came to a halt last year. With 6 luxury properties already function in different metro cities, PVR aims to add around 4 more over the next 18 months. With the opening of this new property, PVR’s total screen count will stand at 157 screens across 38 properties in Maharashtra. As people are still cautious about going out, PVR is also ensuring it follows all safety protocols to make the overall experience safe for its consumers. Speaking about all that they are doing to be relevant in the post-Covid world, Palliere said, “Our audience’s safety is of utmost importance to us. It starts with ensuring that the team is completely up to mark with vaccination and is 100% vaccinated. Additionally, we will take care to follow all social distancing norms and SOPs. We are not cutting corners in that regard because it is very important that everybody feels comfortable and confident that they’re entering and experiencing a safe place.” Meanwhile, speaking about his optimist about the industry with the reopening of screens, Ajay Bijli, Chairman and Managing Director, PVR Ltd Ajay Bijli, Chairman and Managing Director, PVR Ltd said, “The effects of the pandemic will linger but we are hopeful that 2021 will bring back the theatre-going audience and with the change in the scenario, we can assure PVR Maison will be a delightful experience for the patrons. We are happy to welcome back our patrons in the key market of Mumbai, being the hub of the Hindi film industry and the state of Maharashtra.”

As it unveils its most luxurious boutique multiplex yet in Mumbai, PVR is confident of a healthy revival with the opening up of theatres in Maharashtra

<ul><li>PVR INOX Passport allows users to watch 10 movies/month on weekdays for ₹699, consumers can watch.</li><li>It’s targeted towards senior citizens, housewives and more importantly students and youngsters.</li><li>Passport can energize weekday theater occupancies and improve F&amp;B sales, say analysts </li></ul>How many people watch ten movies a month? Not even in the hay days, when movies were a key source of entertainment. Now, at a time when theaters are struggling with occupancies and footfalls, India’s largest multiplex chain has brought out its PVR INOX Passport. For ₹699, consumers can watch 10 movies in a month on weekdays but without access to its IMAX, Gold, LUXE and Director's Cut services. Even as the movie industry saw post-pandemic successes with RRR, Pathan, <keyword id="6498265" type="General" weightage="20" keywordseo="pushpa" source="Orion">Pushpa</keyword> and Rocky and Rani Ki Prem Kahani, occupancies haven’t yet hit pre-Covid levels. Now, PVR is hopeful that with this limited period offer, they can bring back some of those who have lost the habit of watching movies on the screen. “The three significant target groups we are focusing on are students, housewives, and senior citizens, where we believe lies a great opportunity. We expect this innovative offering will not only revitalize weekday cinema attendance but also introduce a new dimension to how our patrons interact with and enjoy the world of cinema,” said Gautam Dutta, co-CEO of PVR INOX. The big screens are being hurt by OTT’s weekly and monthly launches of shows and direct-to-OTT movies. Moreover, GenZs with mobiles and easy data access, find little allure of watching movies in a size larger than life. Unlimited OTTs plus limited theatrical releases PVR is trying to build a habit of making movie watching a social outing that it has been for generations before. OTTs have also upped their ante during the pandemic and has brought back movie loving public into its fold. The time lag between a theatrical release and their satellite/OTT debuts have come down drastically. In some cases, it’s a matter of a few weeks. Added to that, a few superstar-starring, much awaited movies are going directly to OTTs. Case in point – Knives Out ‘Glass Onion’ starring Daniel Craig had a ‘limited’ release before it hit Netflix. Even Martin Scorsese planned the same for his ‘Killers of the Flower Moon’ but canceled it. There are more examples closer home too. One of Bollywood’s most-awaited debuts with three star kids directed by Zoya Akhtar is The Archies. The off-beat movie starring Shah Rukh Khan’s daughter Suhana Khan, Amitabh Bachchan’s grandson Agastya Nanda, and late actress Sridevi’s daughter Khushi Kapoor, is coming to Netflix. More reason for the young to subscribe to Netflix and chill, instead of making a movie date. “This move may eventually bring the youth back to the cinemas, which will be a big positive structural trigger. The only ponderable is if lower pricing or good content would be the decider to usher in this change,” says Karan Taurani, research analyst at Elara Capital in a note on the offer. Without the price-barrier If there ever was a good way to bring back young people to try something, price reduction is the way to go. Many apps and new-age businesses are built on this theory. PVR’s Passport plan however does zero or no damage to their economics. As per Elara’s calculations, pan-India, annual average occupancy for exhibitors for weekdays (Monday-Thursday) is around 17%. Discounted ticket prices may prop occupancy towards 20-25% it believes. “Increased occupancy may not come at any incremental costs and may drive better F&amp;B and ad revenue which is high-margin in nature,” Taurani adds. The Passport offer which is not available in the South of India, is also limited in nature. Only 20,000 of these passes are available. The idea behind it is not merely to boost weekday occupancy, claims PVR. “With the Passport, we have sought to break the barriers of cost and allow our newer audiences to immerse themselves in a wide array of movies across diverse genres. We expect this innovative offering will not only revitalize weekday cinema attendance but also introduce a new dimension to how our patrons interact with and enjoy the world of cinema,” said Dutta. Small vs Big Apart from limited releases, a lot of quaint small movies, whose surprise performance vitalized box offices are also missing. These are the movies that are being swept off by OTTs and as per media reports, producers and distributors are also getting <a href="https://economictimes.indiatimes.com/industry/media/entertainment/studios-fail-to-talk-up-movies-theatres-pay-the-price/articleshow/104897753.cms">tight-fisted with marketing spends</a>. Taurani says that theaters’ dependence on large-budget films increased to around 85% in Hindi <keyword id="25892" type="General" weightage="20" keywordseo="box-office" source="Orion">Box Office</keyword> (BO) which is a structural risk. If there is an option to watch ‘many movies’ with a prepaid option, the small movies which are hitherto undiscovered can get a boost. “It's about making every visit to the cinema an opportunity to discover something new, to be entertained, and to be captivated by the magic of storytelling on the big screen, even with the smaller films,” said Dutta. Be it big or small, a movie on a big screen is always an experience. Whether the younger generation who is reportedly more keen on experiences than anything will subscribe to it, is yet to be seen. SEE ALSO <a href="https://www.businessinsider.in/careers/news/what-do-genzs-think-about-the-number-of-work-hours-in-a-week/articleshow/104874213.cms">My shift is over: Why do GenZs say it, and is it a bad thing?</a> <a href="https://www.businessinsider.in/stock-market/news/mamaearth-ipo-honansa-consumers-d-street-debut-to-be-an-acid-test-for-d2c-companies/articleshow/104840366.cms">Honasa Consumer’s D-Street debut an acid test for D2C companies </a><a href="https://www.businessinsider.in/stock-market/news/mamaearth-ipo-honansa-consumers-d-street-debut-to-be-an-acid-test-for-d2c-companies/articleshow/104840366.cms" style="font-size: 16px;"></a> <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

PVR woos Netflix n Chill crowd back to big screens with its Passport

<ul><li><keyword id="4568700" type="General" weightage="100" keywordseo="pvr-inox" source="Orion">PVR Inox</keyword>’s recipe for solving the problem of dwindling footfalls is to give moviegoers a taste of the big screen experience of <keyword id="18939" type="General" weightage="20" keywordseo="upcoming-movies" source="Orion">upcoming movies</keyword>. </li><li>The multiplex giant is offering a curated 30-minute <keyword id="17144225" type="General" weightage="20" keywordseo="trailer-screening-show" source="Orion">trailer screening show</keyword> for just ₹1, ahead of the crucial summer season with movies lined up in May and June. </li><li>During the first weekend, <keyword id="799" type="General" weightage="20" keywordseo="PVR" source="Orion">PVR</keyword> <keyword id="6407732" type="General" weightage="20" keywordseo="Inox" source="Orion">Inox</keyword> sold 35,000 tickets of its trailer screening show across the country. </li></ul>Multiplex giant PVR Inox is trying to lure people back to the cinemas with a unique offer – watch 10 upcoming trailers in a 30-minute screening show for just ₹1. In exchange, people get to beat the heat in comfortable, air-conditioned seats and perhaps even enjoy some of those trailers. This is the multiplex chain’s bid to woo back the moviegoers who have shunned the big screens since the Covid-19 pandemic broke out and “re-ignite their love for watching entertainment on the big screen”. The chain will also be hoping these shows translate into a boost in advance bookings for movies releasing in the crucial summer season. Salman Khan-starrer Kisi Ka Bhai Kisi Ki Jaan, Aishwarya Rai Bachchan and Vikram’s Ponniyin Selvan: Part-2, and Shah Rukh Khan’s Jawan are among the movies lined up for release in May and June. The trailers will be curated by PVR Inox and will include upcoming Bollywood, Hollywood and other regional movies as well, customised based on the region. If all this sounds familiar, it’s because PVR Inox has borrowed a leaf out of the booklet of fast-moving consumer goods (FMCG) companies like Nestle India, ITC, Kellogg’s and others, which have long used samples as a way to attract new customers by giving them a taste of their new products. For instance, FMCG companies have targeted kids by partnering with schools to give out free samples of Kellogg’s Chocos, Horlicks, Boost, Bournvita or Sunfeast’s Timepass biscuits or atta noodles. These companies also often give out free samples to visitors in shopping malls. The trailer screening show is PVR Inox’s bid to bring sampling to the big screens, especially after reporting a 15% decline in footfalls in the first nine months of FY23. With a total of 1,680 screens, it is India’s largest multiplex chain with presence in 115 cities in India and Sri Lanka. <cmsannotation type="cmsannotation" annotationid="Dwindling footfalls" comment="subhead" text="Dwindling footfalls">Dwindling footfalls</cmsannotation> Dwindling footfalls have worried both single-screen and multiplex chains alike post the Covid-19 pandemic. According to media consulting firm Ormax, Hindi cinema footfalls fell from 341 million in 2019 to a meagre 189 million in 2022. Only two Bollywood movies have managed to break the ₹100 crore collection mark in the March quarter. “In our view, the innovation is interesting and would help address low footfalls, particularly witnessed in case of Hindi movies,” Nuvama Institutional Equities said in a note, adding that it could also help boost advance bookings for upcoming movies. For starters, the trailer screening show is available in multiple cities across the country, and PVR Inox says there will be two shows per day. According to Nuvama, 35,000 tickets were sold across the country over the last weekend. Our initial checks in Mumbai suggest that a large number of seats are vacant today (Friday). It will be interesting to see if PVR Inox’s experiment gathers momentum, especially when people can freely watch trailers on their smartphones or TVs from the comfort of their home. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/client-meetings-start-and-stop-with-chatgpt-says-indias-largest-it-company/articleshow/99468194.cms">Client meetings 'start and stop with ChatGPT' says India's largest IT company</a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-sees-4-7-revenue-growth-in-fy24-after-it-misses-its-own-fy23-revenue-guidance/articleshow/99467637.cms">Infosys sees 4-7% revenue growth in FY24 after it misses its FY23 guidance</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-flags-pain-in-us-markets-says-banking-sector-crisis-has-led-to-cuts-in-discretionary-spending/articleshow/99458916.cms">TCS flags pain in US markets, says banking sector crisis has led to cuts in discretionary spending</a>

What can ₹1 get you? 30 minutes of trailers at PVR Inox

For the past four months, <keyword id="157271" type="COMPANY" weightage="80" keywordseo="PVR-Ltd">PVR Ltd</keyword>'s Group President, Pramod Arora, has been clocking up air miles as he travelled the world looking for inspiration. In fact Arora travelled so far and wide that he could be soon be dubbed Ryan Bingham - the character played by <keyword id="11804" type="PERSON" weightage="40" keywordseo="George-Clooney">George Clooney</keyword> in the film Up in the Air. 
 
Multiplexes are generally not known to be citadels of innovation but in a country where cricket and movies are a religion it is important to keep pioneering to stay relevant. At the heart of this exercise is one of PVR's one of the most ambitious and largest projects till date - the 15 screen 'Superplex' in Noida. 
 
"As plans for the Superplex were drawn, I visited every cinema hall in every part of the world to experience the best practices that we can pick up. At the end I realized cinema industry may not be the correct industry to look at. By looking at the cinema industry we realized that either we were ahead of what others were doing or at par with what they were doing," says Arora. 
 Arora turned elsewhere for insights. "In terms of benchmark we decided to compare ourselves to the hospitality industry and also looked at companies like <keyword id="6354427" type="CITY" weightage="40" keywordseo="Apple">Apple</keyword>. People say there are no similarities between Apple and the cinema industry but there are immense commonalities. 
 
Arora says the trick lies in making sure the consumer is deriving satisfaction from the product you are selling in the minimum possible time and how a company is able to retain the consumer, once he is serviced, for the maximum possible time. "In this minimum and maximum lies your ability to monetize and this is what we are trying to master. For us it was picking up the thread from various industries across the globe," says Arora. 
 
PVR now plans to invest Rs. 250 crore to add 100 new screens this fiscal. It currently has 444 screens in 101 properties spread across 43 cities and targets to touch 1,000 screens by 2017-18. The Superplex is expected to be operational by end of March 2015 and the 15 screen complex would cost the company about Rs. 50 crore to develop. 
 
Inception: 
 According to a <keyword id="50041" type="CITY" weightage="40" keywordseo="KPMG">KPMG</keyword> report Multiplexes, as of today, account for approximately 25 percent of the total number of screens in the country with a low screen density of 8 screens per million in comparison with 117 per million in the US. "Given the low screen penetration, India has the potential to significantly increase the number of existing multiplex screens in the country over the next decade without causing an oversupply of screens," says the KPMG report. 
 
In 2013, the industry added approximately 150-200 screens, with major growth coming from expansion of multiplexes in tier II and III cities. Occupancy levels for major multiplexes players have risen from approximately 23-27 percent in 2011 to more than 30 per cent in 2013. 
 
"In India movie watching theoretically begins from the age of 5. If we look at cinema halls we will see that we do not provide anything for five year olds except sit on their mother's lap and cry or disturb others around them. We have realized that the categories of ages 5-9 need to be addressed," says Arora. 
 Arora says PVR Superplex will have a special auditorium designed called the 'PVR Playhouse'- an exclusive fun and <keyword id="4578" type="COMPANY" weightage="40" keywordseo="entertainment">entertainment</keyword> destination for children. PVR Playhouse will witness a space exclusively for kids to be at their natural best. The auditorium will have half dim light - brighter lighting than other formats, cartoon characters both on and off screen and special seating facilities like bean bags to create a comfortable environment. "For younger kids, PVR will provide visual attractions like play seats, playful interiors and the middle alley will resemble a slope just like a slide for kids to enjoy. Keeping in mind the safety of kids, the flooring will have a rubberized surface for an easy topple," says Arora. 
 
PVR will also operate on the opposite end of the age spectrum as the new multiplex would also have a different screen for senior citizens. 
 
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PVR is well aware that technology changes fast and multiplexes in days to come may not be the preferred medium for cinema as home theater screens are becoming better and bigger. "For example HD has become table stake today and we have understood that if we do not make our medium more immersive, it is not really going to deliver the bang for the buck for the consumer," says Arora. 
 For an immersive movie viewing PVR is addressing the sound and the elctroacoustics in a much more superior way. "<keyword id="16674" type="PERSON" weightage="40" keywordseo="George-Lucas">George Lucas</keyword> has done this in the US for time immemorial but why people have not taken it up is because it is expensive," says Arora. 
 
He adds that PVR took two years to re-engineer the technology at a fraction of a cost. "For example if it rains in the movie, you currently hear it from the surround system or from the speakers behind the screen. For you to be able to feel rain the sound must come from the top and when it falls to the ground, the sound must come from the bottom. From an engineering perspective, it is a very big problem but we have worked on it and managed to reduce the cost associated with it," says Rao. 
 
With respect to screens the ones in cinemas today is flat. PVRs new screen would be curved or concave, which would provide a more immersive and greater viewing area. PVR says there is a perceptible difference in viewing. "These Silver screens are more expensive to the tune of about 200 percent but since it lasts for about 20 years so it's worth it," says Arora. 
 
Five formats and a playhouse: 
 
This will be the first time PVR brings all its brands under one roof. PVR currently runs five brands ranging from IMAX, ECX (enhanced cinema experience), PVR Premier, Directors Cut, PVR 4DX in India and with the addition of PVR Playhouse will operate six formats, all under one roof. "PVR stands as a strong mother brand and we were looking to introduce the other brands of cinemas. IMax is one of them and then we go on incorporating multiple other brand that PVR straddles under one roof. This way failure of one brand will never be able to define or shape the final outcome of the mother brand," says Arora. 
 According to Emkay Global Financial Services research report, PVR enjoys a <keyword id="34527" type="UNKNOWN" weightage="40" keywordseo="market-share">market share</keyword> of 20-22 percent and 30-35 percent of <keyword id="143" type="CITY" weightage="40" keywordseo="Bollywood">Bollywood</keyword> and Hollywood box-office film revenues, respectively. This provides better negotiating power for content sharing with distributors/producers. Its right location strategy and aggressive expansion plans would continue to drive footfalls and revenues, going forward. Emkay also sees robust growth in F&amp;B and advertisement, which would help drive revenue/EBITDA at a <keyword id="107168" type="ORGANIZATION" weightage="40" keywordseo="CAGR">CAGR</keyword> of 17 percent/23 percent over FY14-16 (estimate), resulting in healthy cash generation. 
 
Chocolat: 
 
As discretionary spends on eating out is on a rise, if cinemas go on serving the consumer with Soda and popcorn, it is not going to take them far. "The consumer is ready to pay money but they need quality and service. In a cinema environment it is challenging to provide gourmet chef driven menu but we have decided to push ahead. We have decided to come up with a menu that change with the season and that is being mastered now and by the time the complex is open, he would be ready to cater to all," says Arora. 
 
A multiplex has limited retail space to display food items so PVR will push information on food on cinema goers' mobile phones and through specialized tablets. "We will have a large base kitchen in the multiplex and once you order your food through the PVR app or through the tablets we will have in the multiplex, fresh food will be delivered to your seats. Different strokes for different folks as senior citizens will get large plasma screens to make their food choice," says Arora. KPMG says currently, an exhibitor's revenue comprises of 70 percent of ticket sales, 20 percent of food and beverages and 10 percent of cinema advertising. 
 
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A. I. Artificial Intelligence: 
 
Major corporate houses have multiple Customer Relationship Management (CRM) systems running but when it comes to engagement most companies in India have been going wrong. "Forget about going into predictive intelligence, many have not even been able to identify the sex of the individual whose mobile number they have in their database," says Arora. 
 
The mobile app of PVR, developed in-house, now uses predictive intelligence where it knows what you have been watching, what you like, what you did not and a plethora of data around an individual's movie watching habits. "We envisage a situation where you are a part of a community that wants to watch a movie like Mughal-e-Azam, which is not running in the cinemas; you should be able to book a cinema for that movie if say 60 such individuals decide to watch it on a particular date and time," says Arora.

Lord Of The Screen: How PVR Is Innovating To Stay Ahead

In a bid to expand its business aggressively, <a href="http://www.businessinsider.in/searchresult.cms?query=paytm">Paytm</a> has ventured into online movie ticket market and has tied up with <a href="http://www.businessinsider.in/searchresult.cms?query=PVR">PVR</a>. 
 
Paytm inked a deal with PVR as part of its Rs 120 crore investment in the <a href="http://www.businessinsider.in/Chinas-Baidu-to-invest-in-Zomato-BookMyShow-BigBasket/articleshow/50561568.cms">online movie ticket</a> business. 
 
READ MORE: <a href="http://www.businessinsider.in/Not-soExclusive-Vijay-Shekhar-Sharma-answers-your-Paytm-FAQs/articleshow/51492023.cms">Not so Exclusive: Vijay Shekhar Sharma answers your Paytm FAQs</a> 
 
Following this, Paytm will start selling PVR tickets on its platform. 
 
"This is in line with our overall strategy of bringing more payment use cases online. Customers today are asked to shell out more when they pay in advance digitally. We want to eradicate this practice," said Paytm’s Vijay Shekhar Kumar. 
 
"Through this deal, we aim to reach out to more consumers and achieve better penetration in micro markets," said Sanjeev Kumar Bijli, Joint MD of PVR. 
 
Paytm intends to double the online movie ticket market, which is presently 15% of the total domestic market. 
 
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You can buy a PVR movie ticket on Paytm now

Leading multiplex operator <keyword id="19986619" type="General" weightage="100" keywordseo="PVR-INOX" source="keywords">PVR INOX</keyword> plans to close 70 <keyword id="22996404" type="General" weightage="20" keywordseo="non-performing-screens" source="Orion">non-performing screens</keyword> in FY25 and will go for potential <keyword id="20069509" type="General" weightage="20" keywordseo="monetisation" source="keywords">monetisation</keyword> of non-core <keyword id="20478737" type="General" weightage="20" keywordseo="real-estate-assets" source="keywords">real estate assets</keyword> in prime locations such as Mumbai, Pune, and Vadodara, according to its latest annual report. Though the company will add 120 new screens in FY25, it will also close almost 60-70 non-performing screens, as it chases for <keyword id="738150" type="General" weightage="20" keywordseo="profitable-growth" source="Orion">profitable growth</keyword>. About 40 per cent of new screens addition will come from South India, where it will have a "strategic focus" on this lesser penetrated region as per its medium to long-term strategy. Moreover, <keyword id="799" type="General" weightage="20" keywordseo="PVR" source="Orion">PVR</keyword> <keyword id="6407732" type="General" weightage="20" keywordseo="INOX" source="Orion">INOX</keyword> is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capex on new screens addition by 25 to 30 per cent in the current fiscal. Now, PVR INOX will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated (FOCO) model. It is also evaluating monetisation of owned real estate assets, as the leading film exhibitor aims to become "net-debt free" company in the foreseeable future. "This involves a potential monetisation of our non-core real estate assets in prime locations such as Mumbai, Pune, and Vadodara," said Managing Director Ajay Kumar Bijli and Executive Director Sanjeev Kumar addressing the shareholders of the company. In terms of growth, they said the focus is to speed up expansion in underrepresented markets. "Our company's medium to long-term strategy will involve expanding the number of screens in South India due to the region's high demand for films and comparatively low number of multiplexes in comparison to other regions. We estimate that approximately 40 per cent of our total screen additions will come from South India," they said. During the year, PVR INOX opened 130 new screens across 25 cinemas and also shut down 85 under-performing screens across 24 cinemas in line with its strategy of profitable growth. "This rationalisation is part of our ongoing efforts to optimise our portfolio. The number of closures seems high because we are doing it for the first time as a combined entity," said Bijli. PVR INOX's net debt in FY24 was at Rs 1,294 crore. The company had reduced its net debt by Rs 136.4 crore last fiscal, said CFO Gaurav Sharma. "Even though we are cutting down on capital expenditure, we are not compromising on growth and will open almost 110-120 screens in FY25. At the same time, not wavering from our goal of profitable growth, we will exit almost 60-70 screens that are non-performing and a drag on our profitability," he said. In FY24, PVR's revenue was at Rs 6,203.7 crore and it reported a loss of Rs 114.3 crore. This was the first full year of operations of the merged entity PVR INOX. Over the progress on merger integration, Bijli said "80-90 per cent of the targeted synergies was achieved in 2023-24" In FY24, PVR INOX had a 10 per cent growth in ticket prices and 11 per cent in F&amp;B spend per head, which was "higher-than-normal". This was primarily on account of merger synergies on the integration of PVR and INOX, said Sharma. "Going forward, the increase in ticket prices and food and beverage spending per head will be more in line with the long-term historical growth rates," he said. PVR INOX aims to restore pre-pandemic operating margins, enhancing return on capital, and driving free cash flow generation. "We aim to boost revenue by increasing footfalls through innovative customer acquisition and retention," said Sharma adding "We are also driving cost efficiencies by renegotiating rental contracts, closing under-performing screens, adopting a leaner organisational structure, and controlling overhead costs."

PVR INOX to close 70 non-performing screens in FY25, plan monetisation of real estate assets

<ul><li>Bollywood's Badshah <keyword id="1671" type="General" weightage="80" keywordseo="shah-rukh-khan" source="Orion">Shah Rukh Khan</keyword> turns 57 today.</li><li>On the occasion of Shah Rukh Khan's birthday, cinema chain <keyword id="799" type="General" weightage="100" keywordseo="pvr" source="Orion">PVR</keyword> will be screening his iconic film 'Dilwale Dulhania Le Jaayenge,'</li><li>DDLJ will be screened across 28 cinemas in 18 cities.</li></ul>As Bollywood's Badshah Shah Rukh Khan turns 57 today, cinema chain PVR will be screening his iconic film 'Dilwale Dulhania Le Jaayenge' (DDLJ) to celebrate the moment. 'Dilwale Dulhania Le Jayenge' will be screend across 28 cinemas in 18 cities namely Mumbai, Delhi NCR, Pune, Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Chandigarh among others on November 2. Shah Rukh says: "DDLJ has been an extremely special film for me. I am grateful for all the love I have been receiving over the years for the film. Bringing it back on my birthday just makes it more special. Thank you!" Released on October 20, 1995, the film shares a legacy with PVR as its legacy property PVR Priya in Vasant Vihar, New Delhi screened the movie for the first time in 1995. Sanjeev <keyword id="4106469" type="General" weightage="50" keywordseo="kumar-bijli" source="Orion">Kumar Bijli</keyword>, Joint Managing Director, PVR Ltd, said, "Shah Rukh Khan is one of the very few names in the Hindi film industry, who has become synonymous with the genre of romance." <keyword id="1178173" type="General" weightage="50" keywordseo="rohan-malhotra" source="Orion">Rohan Malhotra</keyword>, Vice President - Distribution, <keyword id="36603" type="General" weightage="50" keywordseo="yash-raj-films" source="Orion">Yash Raj Films</keyword> said, "DDLJ is the longest running film in the history of Indian cinema which has shaped pop culture as we know today. It is our biggest IP and it is symbolic to the deep bond that Shah Rukh Khan and Aditya Chopra's YRF share." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/markets-break-4-session-winning-streak-to-open-lower-in-early-trade/articleshow/95245774.cms">Markets turn choppy ahead of US Fed monetary policy outcome</a> <a href="https://www.businessinsider.in/tech/news/twitter-discontinues-ad-free-articles-for-blue-subscribers-amid-a-revamp-of-the-premium-subscription/articleshow/95246187.cms">Twitter discontinues ad-free articles for Blue subscribers amid a revamp of the premium subscription</a>

It's SRK's birthday today and his iconic film DDLJ is back in PVR cinemas

<ul><li>There will be meaningful increase in the ticket prices from 2020 to 8% in both INOX and PVR, as compared to 2% increase in FY19. </li><li>Over the past two years the trend for average ticket pricing has been flat. </li></ul>Indians will have to shell out more money for movies in multiplexes like PVR and Inox . According to data shared by B&amp;K research, the average ticket prices in PVR and INOX are likely to increase in 2020 and 2021. “There will be meaningful increase in the ticket prices from 2020 to 8% in both INOX and PVR,” says the report. Credits: B&amp;K Research This increase could be making up for the fact that ticket prices in movies have remained almost unchanged in the last two years. In fact, prices declined slightly during the financial year. In the first quarter of 2019-10 the average ticket prices were at ₹209 in PVR and ₹199 in INOX which decreased to ₹207 and ₹196 respectively, in the second quarter. However, according to the report, the net average ticket pricing is likely to be higher in FY21 and FY22. Strong Net Box office Collection While the ticket pricing trend has been flat the net box office collections saw positive growth in both Bollywood and Hollywood films. These collections have been rising since the third quarter of 017-18 Credits:B&amp;K Research In 2018, box office collections were at ₹786 billion (about ₹78600 crore) whereas in 2019 it was at ₹1030 billion. A part of the growth can be credited to the growing popularity of Hollywood content. Moreover, the growing number of multiplexes across urban areas in the country is targeting more people. The number of multiplexes rose from 1800 to 3,000 in the last five years. SEE ALSO : <a href="https://www.businessinsider.in/entertainment/news/amazon-prime-announces-14-new-originals-including-mirzapur-2-and-four-more-shots-please-2/articleshow/73429401.cms">Amazon Prime announces 14 new originals including Mirzapur 2 and Four More Shots Please 2</a>

PVR and Inox are all set to rise ticket prices — but for the first time in 2 years

<ul><li>MUBI subscribers now get a chance to enjoy hand-picked films on the big screen. </li><li>First weekly curated <keyword id="9444894" type="General" weightage="20" keywordseo="MUBI-GO" source="Orion">MUBI GO</keyword> film is Daniels’ Everything Everywhere All At Once </li><li>Subscribers can redeem their weekly ticket via the MUBI GO app and also receive access to the MUBI streaming platform. </li></ul>Mubi, the global streaming service, production company, and film distributor has partnered with <keyword id="89807" type="General" weightage="80" keywordseo="pvr-cinemas" source="Orion">PVR Cinemas</keyword> to launch MUBI GO, previously introduced in 2019 for Indian audiences. Starting today, MUBI members will again be able to enjoy watching globally acclaimed films in <keyword id="799" type="General" weightage="100" keywordseo="pvr" source="Orion">PVR</keyword> <keyword id="6376098" type="General" weightage="80" keywordseo="cinemas" source="Orion">cinemas</keyword> across India as part of their subscription. MUBI GO provides members with the opportunity to see a hand-picked film, chosen by MUBI’s curators, in PVR cinemas each week. Subscribers can redeem their weekly ticket via the MUBI GO app and also receive access to the MUBI streaming platform. New users can subscribe to MUBI GO at an introductory offer of just ₹2499 for a one year subscription, available only for a limited period. The films selected for MUBI GO each week will highlight incredible cinema from around the globe, including titles from partner distributors that will not appear on MUBI’s streaming platform. This week’s hand-picked film for India is Dan Kwan and Daniel Scheinert’s acclaimed Everything Everywhere All at Once. The cast includes Michelle Yeoh (Crazy Rich Asians, Tomorrow Never Dies), Stephanie Hsu (The Marvelous Mrs. Maisel, Set It Up), Ke Huy Quan (Indiana Jones and The Temple of Doom) and Jamie Lee Curtis (Knives Out, True Lies), among others. It’s a film about an aging Chinese immigrant swept up in an insane adventure, where she alone can save the world by exploring other universes connecting with the lives she could have led. Svetlana Naudiyal, Programming Director, Asia commented: “As the biggest fans of the theatrical experience, we are thrilled to bring back MUBI GO in India, in association with PVR Cinemas. We truly believe in celebrating cinema in all forms and therefore it gives us great joy that we are able to do our bit for the film distribution ecosystem through. MUBI GO received immense love and appreciation on its launch prior to the pandemic. We are excited that our members can once again watch amazing films not only online but also in real cinemas across the country.” Commenting on the renewal of the partnership after PVR Cinemas reopened after the pandemic, Sanjeev Kumar Bijli, Joint Managing Director, PVR Limited, said, “Film exhibition business was one of the earliest and the hardest to be hit by the global pandemic and everyone thought that the golden days of cinema was over. However PVR as a brand showed resilience by continuing to redefine itself, personalize experiences and stay relevant to changing times. It always believed that OTT as home entertainment and Cinemas as out-of-home entertainment will co-exist. The renewal of the PVR and MUBI GO association after cinemas are back in action demonstrates this belief”. MUBI GO : How does it work? <ul><li>Each week, MUBI’s curators hand-pick a new film opening in theaters as the “Film of the Week.” </li><li>Members receive a ticket code generated via the MUBI GO app that can be presented each week at participating theaters to claim one complimentary ticket. </li><li>By subscribing to MUBI GO, members will also receive full access to Mubi’s streaming platform. </li><li>For a limited time, new users can sign up for a one-year MUBI GO subscription at a special discounted price of ₹2499 (regularly priced at ₹3,588). </li></ul>MUBI GO launched in 2018 in the UK, 2019 in India and Ireland, 2021 in the US.

MUBI brings back MUBI GO – partners with PVR Cinemas to give subscribers one free ticket every week

New Delhi, Mar 14 () Film exhibitor PVR Cinemas on Saturday said it has received licences to operate four new screens at Indore in Madhya Pradesh. The company is opening the new screens at PVR Treasure Island Mall in Indore, a statement said. The now nine-screen property will introduce two mainstream and two special formats - PVR PlayHouse and PVR 4DX in the existing five-screen cinema, it added. The company mentioned that due to recent Madhya Pradesh government order on temporary closure of cinemas as a precautionary measure to avoid spread of COVID19, the screens will be opened as soon as the order is lifted. With this expansion, the PVR has augmented its screen count in Western Region to 258 screens across 61 properties and 18 screens across four properties in Madhya Pradesh. The property can now accommodate 1,555 audiences. "We are excited to introduce two new formats for our patrons in the region. PVR PlayHouse and 4DX technology have received an exponential response from the cine lovers so far and we are hopeful that it will be a success in this market as well," PVR Cinemas CEO Gautam Dutta said. "With this, we continue to reiterate our focus on making inroads into smaller markets in India where there is significant growth potential," he stated. With these four new screens, the company has opened 87 screens in one financial year which is the highest in the industry so far, Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd said. Speaking about coronavirus scare, he said, "Currently, it is a situation wherein we first pray for the wellbeing and good health of all our customers. As we stay hopeful that this current state of aberration will pass soon, we continue to stay focused on our business outlook for 2020." KKS MRMR

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You can buy a PVR movie ticket on Paytm now

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