<ul><li><keyword id="6357660" type="General" weightage="80" keywordseo="hindi" source="Orion">Hindi</keyword> box office has the largest share of audience but it shrunk in 2022, says the Ormax report. </li><li>Most <keyword id="6364822" type="General" weightage="80" keywordseo="south" source="Orion">South</keyword> languages theatre-going audiences have seen stability or growth, the report added. </li><li>There were 146 million moviegoers in the January to March 2020 period, before the onset of the pandemic, as opposed to 122 million at present.</li></ul>The Indian film industry has lost an estimated 24 million moviegoers to the pandemic, according to media analytics firm Ormax Media Sizing The Cinema: 2023 Report. As per the report, <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has 122 million theatre goers at present, i.e, those who watched at least one film in a theatre in the last 12 months. The corresponding number was 146 million in the January March 2020 period, right before the onset of the pandemic. The research was conducted in January 2023 among 15,000 Indian audiences across urban and rural India. An average Indian movie-goer watches films in 1.5 languages in a theatre in a year, according to Ormax Media. Hindi is the most-watched language, with an audience size of 58 million. However, the Hindi theatre-going universe shrunk by 21.5% vis-à-vis pre-pandemic, Ormax says. “We believe the footfall dip is even sharper (FY23) in 25-30% range versus pre-Covid level, due to content not clicking consistently and only selective large budget/sci fi films doing well. Our initial analysis indicates that Q1FY24 will be a strong quarter and should report strong double-digit YoY growth on a reasonable basis. (Q1FY23 had <keyword id="46758" type="General" weightage="80" keywordseo="rrr" source="Orion">RRR</keyword>, <keyword id="6400922" type="General" weightage="80" keywordseo="kgf" source="Orion">KGF</keyword> 2.0 and Bhool Bhulaiya), backed by many large-scale films across genres, including regional and English,” said <keyword id="5672816" type="General" weightage="50" keywordseo="karan-taurani" source="Orion">Karan Taurani</keyword>, analyst at Elara Capital. In contrast, most South languages have either seen stability or growth. Kannada audience grew the most at 25%, from 11.6 million to 14.5 million. Ormax says that the industry hopes to rebuild lost audiences in 2023. As per latest reports, Shah Rukh Khan starrer ‘Pathaan’ grossed as much as ₹<a href="https://twitter.com/taran_adarsh/status/1625422594861309953?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet">472.95 crore</a> in domestic collections and $115.40 million <a href="https://twitter.com/yrf/status/1625052791503998981?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1625052791503998981%7Ctwgr%5E331ba11f68c1928788ef8c2b0ea74ff7050616b0%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Findianexpress.com%2Farticle%2Fentertainment%2Fbollywood%2Fpathaan-box-office-day-19-shah-rukh-khan-film-rs-950-crore-worldwide-chases-baahubali-2-collection-8441266%2F">worldwide</a> as reported by <keyword id="36603" type="General" weightage="50" keywordseo="yash-raj-films" source="Orion">Yash Raj Films</keyword> on February 13. Indian box office scripts made over ₹10,637 crore in 2022, only marginally behind ₹10,948 crore made in the pre-pandemic 2019. Thus 2022 became only the second year ever to cross the ₹10,000 crore mark at the India Box Office, <a href="https://www.ormaxmedia.com/insights/stories/10k-crore-return-of-the-box-office.html">Ormax states</a>. Last year, KGF 2, RRR, Brahmastra, Drishyam 2 were some of the movies that made their <a href="https://economictimes.indiatimes.com/industry/media/entertainment/indian-box-office-scripts-a-blockbuster-in-2022-rakes-in-over-rs-10000-crore/articleshow/97264994.cms">mark</a>. <keyword id="1472505" type="General" weightage="50" keywordseo="sanjeev-kumar-bijli" source="Orion">Sanjeev Kumar Bijli</keyword>, Joint MD of <keyword id="799" type="General" weightage="80" keywordseo="pvr" source="Orion">PVR</keyword> told in an interview to Business Today that PVR saw 41 million footfalls during the nine-month period from January 2022, which is 75.6% of its <a href="https://www.businesstoday.in/latest/corporate/story/it-will-take-2-3-more-quarters-for-footfalls-at-multiplexes-to-return-to-pre-covid-level-pvr-358927-2023-01-04">pre-Covid</a> level. He added it will take PVR two to three more quarters to return to pre-pandemic level. <div type="image" title="Ormax Media" msid="97919206" hostid="261" sizebytes="190676"></div> Another report of Ormax titled ‘India is Back…At the Theatres’ published on January 27 this year said that the share of Hindi in total India box office fell from 44% to 33% in 2022, as compared to 2019 (pre-pandemic). This was lost to South Indian languages, with Telugu being the biggest gainer, moving up from 13% to 20% share. Added to that, 32% of Hindi box office receipts came from dubbed versions of South films like KGF: Chapter 2, RRR, <a href="https://www.ormaxmedia.com/data/library/IndiaIsBackReport-GroupM-OrmaxMedia-2022.pdf">Kantara</a>, etc. Headquartered in Mumbai, Ormax media is one of India’s media analytics and consulting firms that provides strategic solutions for business operations across the Indian media and entertainment sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/catching-em-early-early-stage-startups-shine-as-their-investor-pool-widens/articleshow/97918089.cms">Catching ‘em early: Early-stage startups shine as their investor pool widens</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/over-25-unicorns-in-india-founded-by-serial-entrepreneurs-report/articleshow/97914331.cms">Over 25% unicorns in India founded by serial entrepreneurs: Report</a>

Indian film industry lost 24 million moviegoers to the pandemic: Ormax

<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

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>As different markets slowly open up, the cinema industry is gearing up to facilitate a safe environment for their consumers. </li><li>However, consumers continue to feel anxious about stepping out and ponder upon various safety concerns like what would the seating arrangement be like, how often will they sanitize the cinema halls and how safe will the food be? We spoke to multiplexes to find out the answers.</li></ul>The world is constantly changing and will not be the same after we come out of this situation for a while. Like every other industry, the experience of watching a film in theatre with a large set of audience might not be the same either. As the pandemic-induced lockdown has pushed us towards subscribing to more streaming platforms, the latest movie premiers on Amazon Prime in India left the industry concerned for the future of cinema. However, contrary to the perception being built in the trade and media, Ormax Media’s latest report revealed that high consumption of films on TV and OTT has not reduced the audience attraction for theatrical experience. The report further said that audiences have given whole-hearted endorsement to the theatrical experience, with 82% missing going to the theatres. A dominant section of the audience also said that they will go back to the theatres within 2-3 weeks of them re-opening. Social distancing and sanitization precautions taken by theatres will play a crucial role in their decision to visit. On a scale of one to 100, the respondents gave high importance to almost all safety measures, which were as follows: <div type="image" title="ormax media report - safety concerns" msid="76042822" hostid="261"></div> Multiplexes have, therefore, put their best foot forward to ensure they build a safe environment and tweak their marketing strategy to reach to their consumers at different touch points in their ticketing journey. We caught up with <keyword id="799" type="CITY" weightage="20" keywordseo="PVR">PVR</keyword>’s Joint Managing Director, Sanjeev Kumar Bijli and <keyword id="6407732" type="COMPANY" weightage="20" keywordseo="inox">Inox</keyword> Leisure’s CEO, Alok Tandon to find out what kind of precautions they have taken to build customer confidence for their return to the cinemas.and what would the future of the industry look like once we resume normalcy. The future is contactless As per Federation of Indian Chambers of Commerce and Industry (FICCI), all cinema halls are required to disinfect every possible area in the premises starting from the entrance to F&amp;B stand to the auditorium. To ensure a safe distance is maintained, theatres will be demarcating circles in the foyer and encourage digital transactions to avoid queuing. Before you enter the hall, your body temperature will also be checked through guns, and if found with a high temperature, your amount will be refunded. In regular auditoriums, families and groups will be seated together and one adjacent seat would be left empty. Luxurious halls that come with existing width between each recliner seat, will not have to leave a vacant seat in between. Use and throw 3D glasses will be distributed and premium IMAX 3D glasses will be disinfected after every use. <div type="image" title="cinema screen" msid="76042795" hostid="261"></div> But what about impulsive watchers? “To offer a contactless experience to those guests who make an impulsive decision to watch a movie, I am glad to share that 100% of our POS card machines are enabled for contactless transactions,” shares Tandon. To help detect asymptomatic cases, PVR has tied up with a hospital, name not disclosed to the media yet, to arrange body check-ups for their employees once or twice a week. Reviving back to its full strength Both Tandon and Bijli are certain that the audiences’ passion for cinema will remain unaffected. They opine that the future of cinema is secure and stable. “We will now assign greater significance towards understanding the needs and aspirations of the fast evolving consumers and working out ways to satisfy them, through services and experiences, and of course, safety. We will continue to focus on customizations and personalization, and we know that a cookie-cutter approach may not work, and I am glad that we are well equipped to handle it. The liking for the giant screen has stood the test of time and has seen through many difficult phases in its century old history. We believe this passion will take care of the concerns and apprehension and will bring back the ‘old normal’, which featured gangs coming together, seated hand in hand, sharing popcorns, having celebrations over lip-smacking meals and above all, a heavy exchange of emotions,” said Tandon. “The future of cinema in the post-COVID world is very bright,” said Bijli. He added, “We are all just waiting for cinema to open to showcase our new protocols on safety and hygiene to give confidence to the consumers that it is safe place to come back and enjoy their favourite form of entertainment -- as and when we do open, which I feel is not very far from now. Industries are opening up slowly, we are seeing more relaxations now. Before COVID, 60-65% of the tickets were bought online and we’ll continue to push that.” To engage with their consumers and make sure they trust them, Bijli shared that PVR is going to communicate the precautions it has taken via digital media and might explore print if it picks up. It has also conducted an email survey amongst its consumer base to understand their expectations better and continue to engage with them. How long till we see the old normal? We reached out to a few industry experts to understand how long it will take for cinema to revive considering that a lot of people will continue to avoid crowded places. Shailesh Kapoor, CEO, Ormax Media highlighted that multiplexes will need to strengthen their marketing strategy to regain trust among consumers. He said, “Cinemas will reopen at some stage, but it's difficult to say when. The most optimistic estimate will be August, but it could be as late as Sep-Oct. Theatre chains will have to build confidence in the audience's minds that it is safe to revisit theatres. For this, theatres will need to take safety measures and do campaigns promoting these safety measures. Bigger chains like PVR and INOX will be able to get more audience trust than smaller chains and local cinemas.” Harikrishnan Pillai, CEO and co-founder, TheSmallBigIdea thinks creation of content will not be a problem but changing the distribution and pricing strategy will play a key role in luring the consumers onto different platforms. “While creation will have its challenges, it is still a smaller hurdle. The future of cinema depends on how distribution and pricing is handled. I think new pricing models will evolve. Producers have always been selling satellite and overseas and have covered a part of their cost. OTT rights was a new norm that added to this revenue. With an OTT-first release, these films could command a premium. But that premium won't cover the loss made by muting the biggest distribution channel, which are the theatres. So theoretically revenue loss is imminent. But here’s the twist. When you make a film, there is a chance of it tanking at the box office. So if the film is sold outright to a platform on the back of the star cast and the perception, there is a possibility that the producers will end up hedging possible losses. Big films with big star cast might go for models where they will have a fee and a percent of new downloads or have a completely different pay per view model being developed with the OTT platform and make it the new box office window.” Karan Taurani, Vice President - Research Analyst, Elara Capital said that the cinema industry will take a lot of time to come back on-track and contactless will be its future. “When cinemas open up, they will start with 10% occupancy and slowly move to 15-20% and peak out at 25%. I think social distancing will prevail until there is a vaccination or a cure,” said Taurani.

Here is how multiplexes are gearing up for post-lockdown period

<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>Two big multiplexes <keyword id="799" type="General" weightage="20" keywordseo="pvr" source="Orion">PVR</keyword> and <keyword id="105311" type="General" weightage="20" keywordseo="inox-leisure" source="Orion">INOX Leisure</keyword> have decided to merge and thereby create the largest film exhibition company in India.</li><li>The combined entity will operate 1,546 screens across 341 properties and 109 cities.</li><li>Analysts say this merger was the last resort for multiplexes to continue doing this business at a time when they have been losing out to OTT behemoths.</li></ul>COVID-19 had left multiplexes with very little business alongside the growing popularity of over-the-top (OTT) platforms, which has now led to old competitors becoming partners. Two big multiplex chains, PVR and INOX Leisure, have decided to merge and thereby create the largest film exhibition company in India. The combined entity will be named as PVR INOX with branding of existing screens to continue as PVR and INOX respectively. New cinemas opened post the merger will be branded as PVR INOX. The combined entity will become the largest film exhibition company in India operating 1,546 screens across 341 properties and 109 cities. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><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;">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;">INOX Leisure </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;">871 screens </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;">675 screens </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;">Operates in 73 cities </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;">Operates in 72 cities </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;">Serves over 100 million patrons annually </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;">Serves close to 70 million patrons every year </td></tr></tbody></table>(Source: BSE statements) “The partnership of these two brands will put consumer at the centre of its vision and deliver an unparalleled movie going experience to them. 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,” Ajay Bijli, chairman and managing director of PVR said in a BSE statement. Further, Ajay Bijli would be appointed as the managing director and Sanjeev Kumar, director of INOX Leisure would be appointed as the executive director. Analysts say this merger was the last resort for multiplexes to continue doing this business at a time when they have been losing out to OTT behemoths. “Multiplex business is [a] very tough business with high capex [capital expenditure] and high fixed opex [operating expense]. Even in a fast-growing market like India, the multiplexes have been struggling to generate free cash flows. The business model in its current form is that of a glorified QSR [quick service restaurant] since more than 80% of the profits come from the sale of high-priced food and beverages. The movie screening business is break-even at best. Advertising revenues are limited to local area advertisers and some standard government ads,” said Abhay Agarwal, founder and fund manager at Piper Serica, a portfolio management service (PMS) provider. Agarwal added, “Footfalls are completely dependent on the quality of new releases, and the multiplexes have no control over that. Most importantly, they have been losing out to international OTT behemoths in terms of the release of new content. Therefore, this merger of PVR and INOX should be seen as a last resort defensive step to drive cost efficiencies.” <div type="image" title="PVR chart" height="900" width="1200" msid="90493427" hostid="261"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://core-web-dev.stocktwits.com" data-id="447587170"> You can disagree with me but can’t deny this. Multiplexes will create huge wealth for investors. My explanation : 1. Industry moving to Duopoly, many mergers on cards.2. Single screens are shutting &amp; the ones left are struggling3. Movie remains the largest source of entertainment for Indians4.Covid lead to better rental negotiation with malls.5.F&amp;B contributes 50% of the revenue, reducing topline risks. One may say viewership will move to OTT, which I won’t deny. Movies only for OTT will be carved out for sure. Stocks have plunged upper circuit in pre market today, more upside possible in $PVR if closed above 2085 and $INOXLEISUR.NSE trading at 52 week high now. &mdash; (@Swapnilkommawar) <a href="https://core-web-dev.stocktwits.com/Swapnilkommawar/message/447587170"> March 28, 2022</a></blockquote><script async src="https://core-web-dev.stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> <div type="image" title="Inox chart" height="900" width="1200" msid="90493454" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/heres-what-supertech-25000-home-buyers-can-do/articleshow/90489946.cms">As Supertech goes bankrupt, these are the options home buyers have</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-amazon-backed-shuttl-chalo-acquires-another-competitor-vogo/articleshow/90492441.cms">After Amazon-backed Shuttl, Chalo acquires another competitor Vogo</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-is-testing-increasing-file-size-limit-from-100mb-to-2gb/articleshow/90487646.cms">You might soon be able to send up to 2GB of files on WhatsApp</a>

Harsh impact of COVID-19 leads two big multiplexes PVR and INOX to come together to save their castles

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

PVR to open 4 more screens in Indore

<img class="gwt-Image" src="/photo/51494375.cms" />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. 
 
(Image: Thinkstock)

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