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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>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>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

<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><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

<ul><li>Iconic romantic films including DDLJ, Tamasha, Titanic 3D version and Jab We Met were re-released during Valentine’s week. </li><li>For chains like PVR, reruns have been an important part of their campaign to bring India back to the theatres. </li><li>Analyst Karan Taurani believes reruns are not powerful enough to impact collections or drive theatre occupancy and indicates lack of fresh Bollywood content. </li><li>Indian film critic Sucharita Tyagi states reruns of classics are helping build film communities, drive theatre occupancy and celebrate cinema. </li></ul>Theatre audiences in one of the PVR’s in Punjab were seen dancing to the groovy beats of ‘Mauja hi mauja’, a song from Shahid Kapoor and Kareena Kapoor Khan-starrer Jab We Met, rereleased in theatres almost two decades after its original release. Kapoor called it ‘too special’ on Twitter. But is the business of nostalgia strong enough to mint money at the box office? Several iconic romantic films including – Shah Rukh Khan (SRK)-Kajol-starrer Dilwale Dulhania Le Jaayenge (DDLJ), Ranbir Kapoor-Deepika Padukone’s Tamasha, James Cameron’s Titanic in 3D and Jab We Met – were released across PVR, Inox and Cinepolis theatres during Valentine’s week this February. Even though DDLJ remains the longest-running film in Indian cinema and is immensely popular with multiple reruns, it found tough competition this Valentine’s week from the Jab We Met rerun. “Jab We Met has now started beating DDLJ in PVR. Jab We Met collected ₹2 lakh on Friday. The collections then jumped to approximately ₹5 lakh on Saturday while the collections on Sunday were ₹6 lakh. On Monday, while DDLJ collected ₹6 lakh, Jab We Met collected ₹6.5 lakh in the multiplex chain,” reported<a href="https://www.bollywoodhungama.com/news/features/jab-mets-re-release-springs-surprise-collects-monday-sunday-also-beats-dilwale-dulhania-le-jayenge-pvr/"> Bollywood Hungama</a>. Rerun campaigns for boosting footfalls PVR Oberoi Mall in Goregaon, Mumbai decided to play six shows of Jab We Met on Valentine’s day. Tamasha had 150 shows with 50% audience occupancy and Titanic 3D version rerun had 1,000 shows, with 60% occupancy, PVR told Business Insider India. The PVR’S Valentine Week Film Festival (10th-16th February 2023) also re-released other romantic titles across languages – Ticket to Paradise (English), Ved (Marathi), Geetha Govindam (Telugu), Vinnaithaandi Varuvaayaa (Tamil), Hridayam (Malayalam), Googly (Kannada) and Love Ni Bhavai (Gujarati). “Screened across 25 cities in India, Jab We Met, DDLJ, Tamasha, Vinnaithaandi Varuvaayaa and Titanic especially received good response, recording average occupancy of 50-70%. Shows of Jab We Met had to be increased to meet the increased demand,” Gautam Dutta, CEO, PVR, told Business Insider India. PVR aims to continue with their rerun campaigns in the future, given the power nostalgia wields on millennials and even GenZs, Dutta added. For chains like PVR, reruns have been an important part of their campaign to boost theatre occupancy – be it re-releasing 11 films starring Amitabh Bachchan on his 80th birthday or the ‘Dilip Kumar Hero of Heroes’ campaign celebrating his 100th birth anniversary. The release of DDLJ during SRK’s birthday last year collected ₹23.4 lakh, claiming 60% occupancy then. “When you watch Jab We Met, you also watch it with 300 people who are die-hard fans of that film. Witnessing this celebration is pure joy. You know the punchlines, where to laugh, where to cry. Props to the Film Federation of India for bringing these classics back. They are also driving theatre occupancy,” Sucharita Tyagi, an Indian film critic told Business Insider India. Many movies like DDLJ, Tamasha, Jab We Met are already available on OTTs yet cinephiles are flocking to theatres in hoards. An Ormax report states the Indian theatre audience has lost <a href="https://www.businessinsider.in/business/news/indian-film-industry-lost-24-million-moviegoers-to-the-pandemic-ormax/articleshow/97918537.cms">24 million</a> moviegoers to the pandemic. This is accentuated by low impact of small and medium-budget films and availability of OTT platforms. The OTT audience in India has grown 20% in 2022 with 424 million active users. Yet, it looks like the big screen has its pull. “We are seeing films like Deewar in theatres, which was released when we weren’t even born. It is a novelty experience. Reruns boost film communities. The Priyanka Chopra led Jio-MAMI festival is also bringing physical screenings back. It is a good time for cinema I believe,” added Tyagi. Impact on collections: minuscule Reruns may boost film communities, but will they be able to revive flagging footfalls and lift box office collections? Karan Taurani, analyst at Elara Capital, believes reruns are not powerful enough to impact collections or drive theatre occupancy. They are rather indicative of fresh Bollywood content. Also, reruns have limitations in their reach. For instance, a Jab We Met will rake in more numbers in Punjab or Delhi as compared to South Indian cities like Chennai. “Reruns are happening because Pathaan has seen a strong run in the last two and a half weeks. Little to no fresh content is being offered, which is why these films are being re-released. The number of Hindi films released every quarter have come down 25-30%, from over 20 films every quarter pre-pandemic to less than 14 films now. There is greater reliance on big-budget films,” Taurani told Business Insider India. SRK-Deepika Padukone-starrer Pathaan crossed ₹500 crore in India in 20 days, contributing 46% to <a href="https://www.ormaxmedia.com/insights/stories/the-india-box-office-report-january-2023.html?s=08">January’s India box office</a> collections. Films released in January 2023 grossed ₹1,389 crore at the domestic box office, the highest since April 2022, as per <a href="https://www.ormaxmedia.com/insights/stories/the-india-box-office-report-january-2023.html?s=08">Ormax report.</a> A caveat – only six films managed to cross the ₹10 crore mark, indicating greater reliance on big-budget movies like Pathaan. “The impact of reruns is very minuscule. Collection is low because these are consumed more in terms of single screens where ticket prices are low. I don’t foresee a large number of people going to multiplexes for these films as ticket prices are 3-4 times higher,” added Taurani. But Tyagi states these movies are helping India come back to the theatres, although she too wishes the ticket prices of these movies were cheaper. “I cannot say if these movies are being used as fillers before the big releases but I am glad India is coming back to the theatres. I wish the ticket prices and snacks at concession stands were cheaper at theatres to make movie watching a more affordable experience,” added Tyagi. Reruns may not be too successful at raking in the moolah at the box office but what they surely do is revive the currency of nostalgia – allowing the audience to relive the past while providing theatre chains a respite from falling audience footfalls.

Business of nostalgia: Reruns aim to bring India back to the silver screens

<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>Nifty dipped below 17,200 and Sensex went below 57,500 as a new COVID-19 strain was found in Africa.</li><li>Multiplexes and restaurants had noticed a recovery in their stock prices only a few months back.</li><li>INOX and PVR stock dipped over 8%, whereas Barbeque Nation and Jubilant FoodWorks dipped over 3%.</li></ul>The concerns over a new strain of COVID-19 virus has once again left the Indian stock markets under a lot of stress, with Nifty going below 17,200 and BSE Sensex dipping below 57,500. The stock prices of multiplexes, hotels and restaurants witnessed a sharp decline as retail investors expect the situation to worsen. “The Indian benchmarks have a gap down opening today tracking weak Asian markets. Traders will be concerned as WHO [World Health Organization] flags the new COVID-19 strain,” Likhita Chepa, senior research analyst at CapitalVia Global Research said. The new Coronavirus strain found in South Africa on Thursday followed by the lockdown across a few European countries have left a deep impact on the Indian stock markets. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">INOX Leisure </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multiplex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PVR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multiplex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Barbeque Nation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Speciality Restaurant (operates Mainland China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.87% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant FoodWorks (operates Domino’s India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.24% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Note: Share prices as of 3:30 p.m., on November 26 Notably, the multiplexes and restaurants had noticed a recovery in their stock prices only a few months back as people got more comfortable in stepping out of their house and getting back to the normal routine. While restaurants were still operating both online and offline from June 2020 onwards, multiplexes had lost that option as well. It was only in October 2020 that the multiplexes were allowed to open in a staggered manner with a capacity of <a href="https://economictimes.indiatimes.com/news/politics-and-nation/unlock-5-0-multiplex-operators-welcome-govts-directive-to-open-cinemas-with-50-capacity/videoshow/78420998.cms">50%</a>. The industry had faced another hit in April-June 2021 as the country was battling the second wave of COVID-19. “We believe India is not in panic mode and investors should make use of this selloff as a buying opportunity. The new variant should not be a great matter of concern for us and we suggest investors with suitable risk appetite to consider and start allocating money into markets who have missed the rallies,” Prashanth Tapse, vice president of Research at Mehta Equities, said. SEE ALSO <a href="https://www.businessinsider.in/international/news/gautam-adani-the-man-who-may-soon-be-asias-richest-person-is-a-college-dropout-who-survived-the-2008-mumbai-terrorist-attack-and-was-once-reportedly-kidnapped-for-2-million/articleshow/87910193.cms" data-type="tilCustomLink">Gautam Adani, the man who may soon be Asia's richest person, is a college dropout who survived the 2008 Mumbai terrorist attacks and says he was once kidnapped for ransom</a> <a href="https://www.businessinsider.in/business/startups/news/interview-these-former-isro-scientists-are-hoping-for-the-biggest-ever-funding-in-the-indian-spacetech-industry/articleshow/87911503.cms">INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry</a> <a href="https://www.businessinsider.in/india/news/earthquake-of-6-1-magnitude-hits-india-myanmar-border-region/articleshow/87922521.cms">Earthquake of 6.1 magnitude hits India-Myanmar border region</a>

Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant

<ul><li>Shares of multiplex chains <keyword id="105311" type="General" weightage="20" keywordseo="inox-leisure" source="Orion">Inox Leisure</keyword>, <keyword id="799" type="General" weightage="20" keywordseo="pvr" source="Orion">PVR</keyword> rallied on Monday as Maharashtra reopens theatres from October 22.</li><li>With this, movies like Sooryavanshi, <keyword id="8378806" type="General" weightage="20" keywordseo="bunty-aur-babli-2" source="Orion">Bunty Aur Babli 2</keyword>, Shahid Kapoor-starrer Jersey, <keyword id="6355923" type="General" weightage="20" keywordseo="aamir-khan" source="Orion">Aamir Khan</keyword>’s Laal Singh Chaddha can be viewed in theatres.</li><li>Maharashtra is one of the biggest markets for the theatre industry as it contributes 25-30% to a Hindi film's box office collections.</li></ul>Movie buffs in Maharashtra will be able to watch their favourite stars’ new releases in theatres from October 22. On Saturday, the state’s Chief Minister Uddhav Thackeray announced the reopening of theatres in the state bringing a relief to the theatre industry. Theatres and auditoriums will be reopened in Maharashtra from October 22, Thackeray tweeted on September 25. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> This is positive news for multiplex companies as the state <a href="https://www.moneycontrol.com/news/trends/entertainment/relief-for-multiplex-players-pvr-inox-as-maharashtra-allows-theatres-to-reopen-7507301.html">reportedly</a> contributes 25-30% to a Hindi film's box office collections, making it key to big Bollywood releases. In fact, shares of PVR, Inox Leisure rallied on stock exchanges on Monday as investors showed their excitement of theatres reopening. On Monday, shares of multiplex companies PVR and Inox Leisure surged to reach their 52-week high of ₹1,662.20 and ₹412.20 respectively. <div type="image" title="PVR" height="900" width="1200" msid="86549218" hostid="261"></div> The announcement came after Thackeray’s discussion with filmmakers Rohit Shetty and Kunal Kapoor, theatre personality Makarand Deshpande, Marathi actors Subodh Bhave, Aadesh Bandekar and other party members. “Opening of Maharashtra is specifically significant because 18% of our screen strength lies in the state, the highest in our circuit and serves as a focal centre for the entertainment industry," said Gautam Dutta, chief executive officer (CEO), PVR to <a href="https://www.moneycontrol.com/news/trends/entertainment/relief-for-multiplex-players-pvr-inox-as-maharashtra-allows-theatres-to-reopen-7507301.html">Moneycontrol</a>. Alok Tandon, CEO, INOX Leisure <a href="https://www.moneycontrol.com/news/trends/entertainment/relief-for-multiplex-players-pvr-inox-as-maharashtra-allows-theatres-to-reopen-7507301.html">reportedly</a> said that with this announcement, content producers would also plan their releases, which should strengthen the Hindi film content pipeline in the months to come and usher in better health for the cinema exhibition industry. <div type="image" title="inox leisure" height="900" width="1200" msid="86549238" hostid="261"></div> The green signal to screen movies in theatres in Maharashtra led to many announcements from movie makers. <a href="https://www.hindustantimes.com/entertainment/bollywood/sooryavanshi-laal-singh-chaddha-and-heropanti-2-here-are-the-bollywood-films-that-have-announce-new-release-dates-101632670713127.html">Reportedly</a>, <keyword id="12183083" type="General" weightage="20" keywordseo="rohit-shettys-sooryavanshi" source="Orion">Rohit Shetty’s Sooryavanshi</keyword> has been announced to release on Diwali, in November. The film will be followed by the release of Bunty Aur Babli 2 on November 19, starring Saif Ali Khan, Rani Mukerji, Siddhant Chaturvedi and Sharvari Wagh. The much awaited Ranveer Singh’s sports drama movie ‘83’ will be screened on Christmas this year in theatres. Another sports movie ‘Jersey’ starring Shahid Kapoor will release on December 31, 2021. Meanwhile, Suniel Shetty’s son Ahan Shetty's debut film Tadap is slated to release on December 3. 2022 line-up <ul><li><keyword id="2823" type="General" weightage="20" keywordseo="akshay-kumar" source="Orion">Akshay Kumar</keyword>'s Prithviraj on January 21</li><li>Aamir Khan’s Laal Singh Chaddha on Valentine's Day</li><li>Ranveer Singh's Jayeshbhai Jordaar on February 25.</li><li>Akshay’s Bachchan Pandey on March 4</li><li>Ranbir Kapoor’s Shershaah on March 18</li><li>Kartik Aaryan’s Bhool Bhulaiyaa 2 on March 25</li><li>KGF 2 set for April 14</li><li>Ajay Devgn's Mayday on April 29</li><li>Tiger Shroff's Heropanti 2 on May 6</li></ul>Several big budget films such as Gangubai Kathiawadi, Brahmāstra, and Pathan are yet to reveal their release dates. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-shares-hit-record-high-trading-at-over-2500/articleshow/86547883.cms">Reliance Industries’ shares hit record high, trading at over ₹2500 in early morning trade</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-fall-in-todays-trade-as-invesco-insists-the-board-to-hold-egm-before-sony-deal/articleshow/86546922.cms">Zee Entertainment shares fall 3% in today’s trade as Invesco insists the board to hold EGM before Sony deal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-coal-india-ntpc-and-other-underperforming-stocks-in-last-10-years/slidelist/86535881.cms">Those who have held these stocks for a decade have only lost money</a>

These upcoming movies from Akshay Kumar, Aamir Khan and Ajay Devgn will get a boost as PVR, INOX and other screens in Maharashtra open next month

<ul><li>Foreign portfolio investors (FPIs), domestic mutual funds are raising their stake in multiplex firms like Inox Leisure, PVR on hopes of <keyword id="9450879" type="UNKNOWN" weightage="20" keywordseo="theatres-reopening">theatres reopening</keyword> soon.</li><li>Investors cheered this development as shares of both multiplex stocks gained on July 27.</li><li>Analysts expect the multiplex industry to gradually recover in the second half of FY22.</li></ul>Multiplex chains, which are among the worst hit by the pandemic have finally found some hope as <keyword id="46604" type="PERSON" weightage="20" keywordseo="theatres">theatres</keyword> are reopening as COVID-19-induced restrictions are being relaxed. <a href="https://www.livemint.com/news/india/maharashtra-shops-may-open-for-longer-hours-as-govt-set-to-relax-some-restrictions-this-week-11627264968238.html">Reports </a>said that Maharashtra government may announce more relaxations in the pandemic-related curbs, this week, imposed during the second wave of the coronavirus pandemic in the state. Moreover, the Delhi government on July 24 announced a slew of unlocking measures and allowed the cinema halls and theatres, and multiplexes to function with 50% capacity. Shares of Inox Leisure and PVR gained 6% and 1.3% respectively on July 27 at 12:51 p.m. Foreign portfolio investor (FPI) holdings in Inox Leisure have <a href="https://www.thehindubusinessline.com/markets/stock-markets/fpis-mfs-increase-stake-in-pvr-inox-leisure/article35546798.ece">reportedly</a> gone up by 8.09% year-on-year to 16.44% as of April-June 2021 from 9.53% in the same quarter last year. Also, mutual funds’ holdings also went up to 23.09% from 19.72% during the same period. Also, a <a href="https://timesofindia.indiatimes.com/business/india-business/amazon-eyes-potential-stake-in-indias-inox-leisure-report/articleshow/84782764.cms">report</a> by Indian Express suggested that Amazon.com India is in talks with several domestic players in film and media distribution including Inox Leisure for a potential stake. It may be looking to expand its content streaming platform Prime Video. Reacting to the report, Inox Leisure released a statement on exchanges saying there are no discussions taking place with Amazon, nor were there any such discussions in the past. It stated the news report was factually incorrect. <div type="image" title="inox stock chart" height="900" width="1200" msid="84785863" hostid="261"></div> A report by Sharekhan Research expects gradual recovery in this space while it said multiplex business is going to be a sustainable model in the long term. “Expect gradual recovery over the next 2-3 quarters as COVID vaccination is catching pace… We believe the multiplex business is going to be a sustainable model in the long term given Indian movie-goers’ strong appetite for the silver screen… We continue to remain positive on the stock, given a net debt-free balance sheet and potential for healthy earnings growth over FY21-FY23,” said a report on Inox Leisure published on April 29. <div type="image" title="PVR stock chart" height="900" width="1200" msid="84785899" hostid="261"></div> Meanwhile, a report by Maybank Kim Eng Securities on PVR dated June 3 said it sees a threat from over the top (OTT) platforms witnessing direct release on their platforms. It hopes big movies will release on box office and not on OTT. “We factored in 67 million footfalls in FY22 estimates, as we expect a weak recovery in footfalls even during second half of FY22 which is contingent upon the government’s vaccination drive and reaching herd immunity, strong content pipeline -- key movies such as ‘Sooryavanshi’, ‘Lal Singh Chaddha’ and ‘83’ release on box-office and not on OTT,” said the report. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musks-tesla-second-quarter-earnings-show-that-its-bitcoin-holding-cost-the-company-23-million-in-impairment/articleshow/84784933.cms">Elon Musk’s Tesla second-quarter earnings show that its Bitcoin holding cost the company $23 million in impairment </a> <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’ </a>

Inox Leisure, PVR stocks shine on hopes of theatres reopening soon

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>On October 1, <keyword id="6407732" type="COMPANY" weightage="20" keywordseo="inox">INOX</keyword> and PVR stocks jumped by 12% in morning trade. Though they pared some gains, both stocks still hold over 6% gains as of 2.30 pm. </li><li>Indian government’s Unlock 5.0 mandates for theatres and halls to reopen with 50% capacity from October 15.</li><li>But not just theatre chains, even the ticketing platforms like <keyword id="600792" type="COMPANY" weightage="20" keywordseo="BookMyShow">BookMyShow</keyword> too heaved a sigh of relief. </li></ul>After being shut for over six months, cinema halls across the country can finally look alive again as Indian government’s Unlock 5.0 mandates for theatres and movie halls to reopen with 50% capacity from October 15. But that 50% capacity was a piece of welcome news for listed theatre chains. On October 1, INOX and PVR stocks jumped by 12% in morning trade. Though they pared some gains, they were still trading higher by 6.3% and 8.35% respectively as of 2.30 pm. <div type="image" title="INOX PVR" msid="78425198" hostid="261"></div> Both Inox and PVR bore the brunt of the coronavirus pandemic. For the first three months of the current financial year, INOX reported a loss of ₹73.64 crore, while revenues fell by almost 100%. Meanwhile, PVR had posted losses to the tune of ₹226 crore. According to the Central government’s latest guidelines: <ul><li>Cinemas/ theatres/ multiplexes will be permitted to open with upto 50% of their seating capacity, SOP will be issued by the Ministry of Information &amp; Broadcasting.</li><li>Business to Business (B2B) Exhibitions will be permitted to open, for which SOP will be issued by the Department of Commerce.</li></ul>But not just theatre chains, even the ticketing platforms like BookMyShow heaved a sigh of relief. In May, BookMyShow had furloughed over 270 employees as it began to deal with the pandemic. “This move will bring immense relief to scores of employees across the sector which has been one of the worst hit, through this pandemic. As the category leader, BookMyShow recognises that we are in extraordinary times and is mindful of social distancing and sanitisation amongst other factors. The health and safety of all - from cine-goers to cinema partners, production houses and execution agencies - will be of paramount importance and BookMyShow will uphold all SOPs as mandated for our users’ safe movie watching experience,” said Ashish Saksena, COO – Cinemas, BookMyShow. With the upcoming festive season, Saksena added that he is confident that films and audiences will return to the big screen. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-has-bagged-nearly-half-of-all-private-equity-investments-in-india-this-year-and-that-doesnt-include-the-10-billion-from-facebook-and-google/articleshow/78422299.cms">Reliance has bagged nearly half of all private equity investments in India this year – and that doesn’t include the $10 billion from Facebook and Google</a> <a href="https://www.businessinsider.in/india/news/central-government-unlock-5-0-guidelines-cinema-halls-schools-colleges-swimming-pools-can-open-again-with-some-conditions/articleshow/78419665.cms">Unlock 5.0 guidelines – Schools and colleges set to reopen in phases, cinema halls allowed with 50% seating</a>

You Searched For "PVR Cinemas" and got 12 results

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

PTI

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

Gulshan

Katya

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

BI India Partner

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

IANS

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

Rounak Jain

Business of nostalgia: Reruns aim to bring India back to the silver screens

Eetika Kapoor

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

Samarpita Banerjee

Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant

Kritti Bhalla

These upcoming movies from Akshay Kumar, Aamir Khan and Ajay Devgn will get a boost as PVR, INOX and other screens in Maharashtra open next month

Bhakti Makwana

Inox Leisure, PVR stocks shine on hopes of theatres reopening soon

Bhakti Makwana

PVR and INOX Leisure announce merger

IANS

Inox, PVR stocks surge, BookMyShow heaves a sigh of relief as cinemas are set to reopen from October 15

Sanchita Dash

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