PVR’s Q1 show driven by pricier tickets and blockbusters

<ul><li><keyword id="6407732" type="General" weightage="20" keywordseo="inox" source="Orion">INOX</keyword> reported its highest ever quarterly revenue, EBITDA and net profit since its inception two decades ago.</li><li>Its EBITDA was at an all-time high as 1.8 crore people visited its cinemas in the last quarter.</li><li>Interestly, the average ticket price of INOX was ₹21 lower than that of <keyword id="799" type="General" weightage="20" keywordseo="pvr" source="Orion">PVR</keyword>’s.</li></ul>After a two-year slump, India’s biggest multiplex chains PVR and INOX have risen from the ashes to report their best quarters so far, thanks to some big-ticket film releases. Blockbuster films like KGF: Chapter 2, RRR, Bhool Bhulaiya 2 and Doctor Strange compelled audiences to step back into theatres between April and June. INOX, on Wednesday, reported its highest ever quarterly revenue, EBITDA and net profit since its inception two decades ago. PVR, which announced its <a href="https://www.businessinsider.in/business/news/pvrs-q1-show-driven-by-pricier-tickets-and-blockbusters-like-kgf-2-rr-bhool-bhulaiya/articleshow/93027576.cms">quarterly results two weeks ago</a>, had also achieved the same milestones in the quarter ending June 30. However, PVR has managed to outperform INOX in the April-June quarter of 2022 with almost double the revenue. INOX’s revenue stood at ₹589 crore in the April to June quarter of 2022, representing an astronomical 22-fold jump from ₹26 crore revenue reported a year earlier. The company also managed to turn its year-ago quarter’s net loss of ₹101 crore into a profit of ₹74 crore for Q1 of FY2023. It’s EBITDA — earnings before interest, taxes, depreciation and amortisation — was also at an all-time high as 1.8 crore people visited its cinemas in the April-June quarter. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><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;"> </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;">April- June (FY2022) </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;">January-March (FY2022) </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;">April- June (FY2023) </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;">Revenue </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;"> ₹26 crore </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;">₹325 crore </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;">₹589 crore </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;">EBITDA </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;">-₹104 crore </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;">₹21 crore </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;">₹130 crore </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;">Net Profit </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;">-₹101 crore </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;">-₹12 crore </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;">₹74 crore </td></tr></tbody></table>Meanwhile, PVR’s revenue crossed ₹1,000 crore for the first time ever in the first quarter of fiscal year 2023, registering a nearly 10-fold increase from last year. Its net profit stood at ₹53 crore, compared to a ₹220 crore loss in the Q1 of FY2021. Notably, PVR and INOX are in the middle of a merger to create the largest multiplex chain with more than 1,500 screens in India. The deal is still seeking regulatory approvals. <div type="image" title="PVR manages to outperform INOX in Q1 of FY2023" msid="93326679" hostid="261" sizebytes="97373"></div> Interestly, the average ticket price of INOX was ₹21 lower than that of PVR’s. INOX charged an average ticket price (ATP) of ₹229, while PVR charged ₹250 — the highest for both the companies. <cmsannotation type="cmsannotation" annotationid="Content to their rescue" comment="subhead" text="Content to their rescue">Content to their rescue</cmsannotation> “Content continued to be the decisive force behind the historic performance of the quarter, with numerous movies doing extremely well at the Box Office. Q1’FY23 saw blockbusters, including RRR, KGF: Chapter 2, Vikram, Bhool Bhulaiya 2 and Doctor Strange In The Multiverse of Madness resulting in an unprecedented footfall of 18.4 million guests,” INOX said in a statement. The company now expects a “great turnaround” in the business in the upcoming quarter because of releases like <keyword id="7432923" type="General" weightage="20" keywordseo="laal-singh-chaddha" source="Orion">Laal Singh Chaddha</keyword>, <keyword id="6385850" type="General" weightage="20" keywordseo="raksha-bandhan" source="Orion">Raksha Bandhan</keyword>, <keyword id="4632769" type="General" weightage="20" keywordseo="liger" source="Orion">Liger</keyword>, <keyword id="1501412" type="General" weightage="20" keywordseo="brahmastra" source="Orion">Brahmastra</keyword> and Vikram Vedha. PVR too has similar expectations from the upcoming months. Siddharth Jain, the director of INOX Group, during the analyst call noted the footfall to the theatres would not be impacted even if any of these movies did not perform well. Four brokerage firms — ICICI Securities/Direct, Motilal Oswal, Prabhudas Lilladher and ShareKhan — are also of the opinion that a strong movie pipeline can change the fate of movie theatre chains like PVR and INOX as they attract more footfall. 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PVR manages to outperform INOX in Q1 of FY2023

<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>Due to inflation, theatres across the board have increased their prices for movie tickets and food and beverages by 5-20%.</li><li>However, their sales remain unaffected so far.</li><li>After almost two years of dry spell, multiplexes and single screens are seeing a strong recovery in 2022.</li><li>Despite costly tickets, consumer sentiment remains high as they flock to watch big-ticket movies on the silver screen with their loved ones.</li></ul>India’s cinema industry went through a severe drought due to the Covid-19 pandemic. Several pandemic-induced country-wide lockdowns forced theatres to shut down completely for more than 18 months, leading to a significant drop in revenue. However, after opening their doors to viewers in the second half of 2021, theatres are back to the pre-pandemic level of collections this month. Inox Leisure’s chief programming officer, Rajender Singh Jyala, said, “Last three months have been good for us. On average, we are clocking more than ₹1000-1500 crore every month.” Sharing which movies set the ball rolling at the multiplex chain this year, Jyala added, “Movies RRR and Gangubai Kathiawadi pushed the recovery. Before that, Kashmir Files and now with Bhool Bhulaiya 2, our footfalls and domestic ticket sales are at pre-pandemic level or even better.” With eagerly-awaited Bollywood movies such as Prithviraj, Brahmastra, and Lal Singh Chaddha slated to be released in the next three to four months, Jyala is optimistic that the momentum will continue this year. With its current progression, 2022 might turn out to be a golden year for the cinema industry, driven by home-grown content. Media consulting firm Ormax Media’s Partner, Gautam Jain, said, “The overall domestic <keyword id="25892" type="General" weightage="80" keywordseo="box-office" source="Orion">box office</keyword> collections have crossed the ₹4000 crore gross mark from January to April. This is the highest gross box office collection for January to April since 2018." "Given this growth trajectory and looking at the line-up of films slated to release this year, a gross box office collection of ₹12,000 crore looks possible, which would make this year the highest ever in terms of the gross box office [collection]," he further added. While INOX has reverted to the pre-pandemic level on all metrics, Ormax Jain said that the cinema industry’s overall footfalls and ticket sales are still lower than the pre-pandemic levels. Explaining why the gross box office revenue is higher than 2019 while footfalls continue to be low, Jain said, “The gross box office collections are higher due to the ticket prices being higher by 15-30% across languages. The ticket prices have increased even in south markets.” Cinema-lovers ignore soaring inflation, theatres remain unaffected As the cinema industry jumped past the first major roadblock that COVID-19 threw in its path, it faced another challenge this month – soaring inflation. The rise in inflation has affected all industries. The Fast Moving Consumer Goods (FMCG) industry has resorted to hiking its product prices and shrinking its products across its portfolio. Theatres have also raised their prices for movie tickets and food &amp; beverages (F&amp;B) by 5 to 20% in different parts of the country. However, audiences returning to the big screen, after being deprived of the theatrical experience for close to two years, seem to be indifferent to the price increase. “The rise in the prices of movie tickets and F&amp;B in line to cover inflation seems to be reasonable. Average ticket prices have risen by about 8 to 10% and over 15% in some states and cities. At the same time, the F&amp;B prices have increased between 5 to 10%. The pinch of price increase seems to be ignored by the patrons as both occupancy levels (irrespective of pricing) and the spending on F&amp;B increased during the period,” said consulting and advisory firm Deloitte India’s Partner, Chandrashekhar Mantha. He calls the steady recovery in this quarter a result of ‘revenge consumption trend,’ wherein consumers are trying to catch up on everything they missed out on in the last two years. The movie industry’s strong content pipeline has also struck a chord with the audience, further pushing the recovery. Multiplex chain INOX hasn’t felt the inflation’s impact either. While it has increased its movie ticket and F&amp;B prices by 5-10% across its 675 screens, its sales and footfall continue to go up. “The increase is not on that level wherein consumers can feel the pinch in their pockets. It is between 5 to 10%. In fact, spends on F&amp;B and the ticket sales that we're seeing is more than the pre-pandemic level,” Jyala told Business Insider India. On the other hand, Ormax Media’s Jain said that small budget films are feeling the impact of inflation and movie-goers are choosing to watch only big-ticket movies that seem to be worth their money. “Audiences are choosing to watch films that offer a theatrical big screen experience such as RRR or KGF Chapter 2 or spectacle films like Doctor Strange or Spider-Man or a collective experience Bhool Bhulaiya 2 or Saunkan Saunkne. Films that did not offer this, failed to get the audiences – for example Jayeshbhai Jordaar or Jersey," said Jain. "Apart from the ticket prices, since the audiences are aware of the eventual OTT premieres now and are exposed to OTT viewing, any film that does not fit the above criteria has failed to get a decent opening weekend as well,” he said. However, it is too soon to tell. Bollywood movies such as Jayeshbhai Jordaar or Jersey also failed to rake in numbers because they didn’t leave a good impression on critics. Regional movies jump ahead Regional movies like KGF 2.0, RRR and Pushpa have been reporting recording-breaking revenue collections at the box office, surpassing Hindi movies like Jayeshbhai Jordaar, and Bhool Bhulaiyaa 2 so far. KGF 2.0 breached ₹800 crore revenue market in terms of net box office collection, which was slightly higher than RRR at ₹720 crore, revealed analytics and financial firm Elara Capital. The small to medium budget films in regional markets have reported a net box office collection of ₹50-55 crore each. On the other hand, recently released Hindi films have not been able to breach the ₹25-30 crore mark, which is a 50% less target than regional. “Relaxation of Average Ticket Price (ATP) cap in Andhra Pradesh and Telangana markets is one of the reasons for regional content reporting higher Box Office collections. The next big regional film release slated for June 3 – Vikram, may collect ₹150-175 crore net in terms of lifetime box office collection,” said Karan Taurani, Senior VP - Research Analyst, Elara Capital. A bright year ahead The rest of the year will see some major releases such as Akshay Kumar’s Prithiviraj, Aamir khan’s Laal Singh Chaddha, Varun Dhawan’s Jug Jug Jiyo, Ayushman Khurana’s Doctor G and Anek. From the regional markets, Virata Parvam of Rana Dugabatti, Rocketry: The Nambi Effect of R. Madhavan, Agent of Mamotty, Ravansura of Ravi Teja, the star-studded Vikram, are lined up for the second half of 2022. The Hollywood releases will further strengthen this pipeline. So, the year ahead looks bright for the movie exhibition industry. Analysts and movie exhibitors are confident about seeing a continued growth momentum in the next half.

Theatres cross pre-pandemic gross revenue collection despite pricey movie tickets

<ul><li>A <keyword id="2795031" type="General" weightage="20" keywordseo="local-circles" source="Orion">Local Circles</keyword> survey says that the percentage of citizens going to multiplex is likely to dip by half as compared to March.</li><li>Nearly, 51% of the survey respondents said they have no such plans to watch a movie in the cinema halls in the next 60 days.</li><li>This report comes at the time when Aamir Khan’s <keyword id="7432923" type="General" weightage="100" keywordseo="laal-singh-chaddha" source="Orion">Laal Singh Chaddha</keyword>, Akshay Kumar’s <keyword id="6385850" type="General" weightage="20" keywordseo="raksha-bandhan" source="Orion">Raksha Bandhan</keyword> and Ranbir Kapoor’s <keyword id="1501412" type="General" weightage="20" keywordseo="brahmastra" source="Orion">Brahmastra</keyword> are getting ready for release.</li></ul>Even though the Indian film industry is preparing itself for a long line up with big releases, the audience does not seem too keen. According to a survey by Local Circles, only one in five respondents (22%) are planning to watch a movie in the cinema hall or multiplex in the next 60 days. This is only half of what it was in the month of March 2022. “Similarly, 14% of citizens were planning to visit a cinema hall per LocalCircles’ survey conducted in Dec 2021. This percentage rose to 41% in the March survey, and now stands at 22% in August 2022,” the report noted, adding that the footfall is likely to dip by half. The recent survey — based on the responses from 11,707 individuals across 302 districts of India — highlighted that 51% of the respondents said they have no such plans to watch a movie in the cinema hall or multiplex in the next 60 days. Meanwhile, 19% noted that they don’t watch movies in theaters anyway. The report showcases the customer’s sentiment around the big blockbuster movies like Aamir Khan’s Laal Singh Chaddha, Akshay Kumar’s Raksha Bandhan and Ranbir Kapoor’s Brahmastra Part One: Shiva that are lined up in August and September. The first three months had actually turned out to be pretty good for the Indian film industry with movies like RRR, KGF Chapter 2, Bhool Bhulaiya 2, Kashmir Files and others leaving a mark in the theaters. However, the momentum looked to have slowed down with Shamshera, Prithviraj Chauhan, Ek Villain Returns and Jayeshbhai Jordaar going in and out of theaters in a span of a few weeks. The performance of movies in the last month has also got the business world worried about the traction cinema businesses would be getting despite several big big budget releases. This was also one of the<a href="https://www.businessinsider.in/business/news/laal-singh-chaddha-raksha-bandhan-flop-show-can-impact-on-revenue-of-pvr-and-inox-in-second-quarter-of-2022-23/articleshow/93438735.cms"> major questions posed to PVR and INOX during their analyst calls </a>for earnings for June quarter. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><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;">Movie </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;">Release </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;">Bullet Train </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;">August 5, 2022 </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;">Laal Singh Chaddha </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;">August 11, 2022 </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;">Raksha Bandhan </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;">August 11, 2022 </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;">Agent </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;">August 12, 2022 </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;">Thiruchitrambalam </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;">August 18, 2022 </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;">Nope </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;">August 19, 2022 </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;">Liger </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;">August 25, 2022 </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;">Beast </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;">September 2, 2022 </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;">Yaar Mera Titliyaan Warga </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;">September 2, 2022 </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;">Brahmastra Part One: Shiva </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;">September 9, 2022 </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;">The Women 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;">September 16, 2022 </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;">Dhokha Round D Corner </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;">September 23, 2022 </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;">Vikram Vedha </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;">September 30, 2022 </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;">Ponniyin Selvan </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;">September 30, 2022 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>You can check the complete list of big budget movies lined up for this year <a href="https://www.businessinsider.in/india/news/pathan-liger-godfather-heres-a-list-of-forthcoming-movie-releases-that-will-decide-the-fate-of-the-multiplexes/articleshow/93482455.cms">here</a>. The Local Circles’ survey also asked people whether they have watched any movie in the theater in the last 60 days. To this, 29% gave a positive response. Meanwhile 49% responded with a no and the remaining 29% said that they don’t visit cinema halls. This question in the survey received 11,226 responses. SEE ALSO <a href="https://www.businessinsider.in/india/news/pathan-liger-godfather-heres-a-list-of-forthcoming-movie-releases-that-will-decide-the-fate-of-the-multiplexes/articleshow/93482455.cms" data-type="tilCustomLink">Pathan, Liger, Godfather: Here’s a list of forthcoming movie releases that will decide the fate of the multiplexes</a> <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/msme-credit-demand-jumps-60-from-pre-pandemic-levels-in-signs-of-rebound-in-economic-activity/articleshow/93457388.cms">MSME credit demand jumps 60% from pre-pandemic levels – a sign of rebound in economic activity</a> <a href="https://www.businessinsider.in/business/news/indias-lab-grown-diamonds-are-adding-more-shine-to-the-worlds-diamond-market/articleshow/93458389.cms">Indian diamantaires want to make lab-grown diamonds a woman’s best friend</a>

Indian moviegoers might stay home this August in spite of big releases, says survey

<ul><li>PVR and Inox have gained in footfalls due to the success of <keyword id="13105" type="General" weightage="20" keywordseo="south-movies" source="Orion">South movies</keyword>, but Bollywood is their bread and butter.</li><li>In the two quarters, only three <keyword id="24889" type="General" weightage="20" keywordseo="bollywood-films" source="Orion">Bollywood films</keyword> delivered a strong show bringing down the share in hit movies to a mere 10% from 40% earlier.</li><li>As Bollywood continues to disappoint, multiplex ad revenue will be hit badly.</li></ul>Any other pre-pandemic year, a movie from A-list Bollywood stars like Shahrukh Khan, <keyword id="6354583" type="General" weightage="20" keywordseo="salman-khan" source="Orion">Salman Khan</keyword>, <keyword id="6355923" type="General" weightage="20" keywordseo="aamir-khan" source="Orion">Aamir Khan</keyword>, Akshay Kumar or Ajay Devgn would have meant a decent opening at the theatres. But there is no such assurance for screen owners like Inox and PVR which have just received a go ahead for their merger. “In the past, big stars have been able to attract audiences to theatres en masse, given their strong legacy. However, changing preferences of audiences have now resulted in content being the primary focus. These highly touted <keyword id="17663" type="General" weightage="20" keywordseo="superstars" source="Orion">superstars</keyword> are no longer able to attract audiences based on just their brand names,” said a report by Emkay Research on media and entertainment. Two movies of new-age star Ranveer Singh - 83 and Jayeshbhai Jordaar too failed at the box office, in addition to Akshay Kumar’s Prithviraaj and Bacchan Pandey. Multiplexes need Bollywood - can’t bank on the South In spite of the good performance of South movies, the box office collections of theatres bank on Bollywood. It contributes to around 60% of total collections. Bollywood movies were also the highest-grossing movies in 11 of the 16 pre-Covid quarters. But the last two quarters changed this dynamic. Only three films delivered a strong show, which means Bollywood share in hit movies went down from 40% earlier to a mere 10%. As Bollywood continues to disappoint, multiplex ad revenue will be hit badly. The last two quarters saw a stellar performance by two regional films - RRR and KGF Chapter 2. Their respective strong collections could be attributed to S S Rajamouli’s fame after Bahubali and the success of the first part of the movie. But a deeper change seems to be afoot. “The performance of movies like Pushpa in the Hindi hinterland indicates that customer preferences are evolving. We believe that a turnaround in Bollywood’s fortunes is critical for sustaining box-office collection growth, as performance of regional movies – South and non-South - beyond their core markets is generally sporadic in nature,” Emkay says. PVR and Inox have gained in footfalls due to the success of South movies, but Bollywood is their bread and butter. “The importance of Bollywood for large multiplex chains like PVR and Inox is even higher, as the South market is dominated by single screens. South Indian movies’ continued success in the Hindi-speaking market will be difficult,” Emkay noted. The Hindi cinema industry is well aware of the shifting trend and migration of audiences to south movies, which have larger-than-life characters of the lead cast that is widely accepted by audiences. Famous Indian filmmaker Karan Johar feels that Bollywood is not given enough leeway to make such movies. “When I read the reviews of KGF, I’m like if we made this, we would be lynched. But here, everybody is like ‘Oh it was a celebration, a party’ and it was. It’s working both ways. I feel we are also not given any kind of leeway and then we are trying to be somebody else. So, we are all over the place. We are living a dual existence and we have to stop,” he <a href="https://www.mensxp.com/entertainment/news/110174-yash-fans-troll-karan-johar.html">said</a>. Gross box office collections show that non-Bollywood movies are taking over <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;">Gross box office collection </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;">2021 </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;">Telugu </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;">11.3 billion </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;">Hindi (Bollywood) </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;">6.7 billion </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;">Tamil </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;">6.6 billion </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;">Hollywood </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;">5.5 billion </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;">Kannada </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;">3.7 billion </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;">Malayalam </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;">1.9 billion </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;">Punjabi </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;">0.9 billion </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;">Bengali </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;">0.2 billion </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;">Marathi </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;">0.2 billion </td></tr></tbody></table> Content, social media and other factors affecting Bollywood Not all Bollywood movies were rejected. The success of films like The Kashmir Files and Bhool Bhulaiya 2 indicates that audiences are up for only quality content. The third movie which had the multiplex cash registers ringing was Suryavanshi, in the post-Covid era. “Most movies released in the last 2-3 quarters have gotten mixed to negative critic reviews, indicating that weak content is the primary factor for the poor performance,” said the report. Social media trends like Boycott Bollywood are not helping either. From nepotism to religious sentiments - various factors are triggering social media campaigns - which are strong enough to have an effect on their box office collections. So much so, some such targeted movies have not made it past a week in the theatres. “The low percentage of collections of films after the first week is also a testimony to the lower quality of content that the industry has churned out in the last couple of quarters,” the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/meet-draupadi-murmu-modi-governments-pick-for-upcoming-presidential-elections/articleshow/92378797.cms">Meet Draupadi Murmu — Modi government’s pick for upcoming Presidential elections</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/recession-in-the-us-could-drop-oil-prices-and-benefit-indian-economy-as-per-economists/articleshow/92361936.cms">A US recession could provide Indian economy the relief it needs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/youre-too-gay-for-this-ad-and-other-ways-indian-showbiz-ignores-lgbtq-artists/articleshow/92355377.cms">You’re too gay for this ad, and other ways Indian showbiz ignores LGBTQ+ artists</a>

It’s not Bollywood films, it’s the superstars that people seem to be tired of

<ul><li>The weekend collection of <keyword id="46636" type="ENTERTAINMENT" weightage="20" keywordseo="Pati-Patni-Aur-Woh">Pati Patni Aur Woh</keyword> starring Kartik Aryan, Bhumi Pednekar and Ananya Pandey is pegged at ₹34 crore. </li><li>Panipat starring Sanjay Dutt, Arjun Kapoor and Kriti Sanon registered a slow start. </li><li>Panipat’s total box office collection is almost the half of Pati Patni Aur Woh. </li></ul>Pati Patni Aur Woh starring Kartik Aryan, Bhumi Pednekar and Ananya Pandey had a good weekend. The rom-com earned nearly ₹9 crore on its first day, and its weekend collections are pegged at ₹34 crore. If the film continues to hold on to its audience on Monday, it will be a hit, <a href="https://boxofficeindia.com/report-details.php?articleid=5690">reported Box Office India. </a> <div type="twitter" handle="taran_adarsh" handlename="taran adarsh" image="http://pbs.twimg.com/profile_images/1440352704/profile_pic_taran_normal.jpg" favoritecount="7617" retweetcount="410" status="#KartikAaryan versus #KartikAaryan... *Day 1* biz... 2019: #PatiPatniAurWoh ₹ 9.10 cr 2019: #LukaChuppi ₹ 8.01 cr 2… https://t.co/xnxpNCqoQz" createdat="1575699184000" id="1203195702026940417"></div>
 Pati Patni Aur Woh is Kartik Aryan’s best opening day ever. Luka Chuppi’s first day collections stood ₹8 crore whereas that of Pyaar ka Punchnama 2 and Sonu Ke Titu Ki Sweety were at ₹6 crore. Both these movies went on to be superhits that established him in the industry. He is one of the busiest actors today and bagged the sequels of two hit franchises — Love Aaj Kal 2 and Bhool Bhulaiya 2. Pati Patni Aur Woh itself is a remake of BR Chopra’s 1978 film where Abhinav Chintu Tyagi struggles to balance his married life and an affair. Last week, Ashutosh Gowariker’s magnum opus Panipat starring Sanjay Dutt, Arjun Kapoor and Kriti Sanon-- also released. The movie which depicts the third battle of Panipat in 1761 however registered a slow start. It made ₹4 crore on its opening day and ₹5.78 crore on the second and its total weekend collections were at ₹18 crore. Panipat’s total box office collection is almost the half of Pati Patni Aur Woh. Panipat narrates the story of Marathas and Ahmad Shah Abdali — the ruler of Afghanistan. Rajasthan Tourism Minister Vishvendra Singh <a href="https://www.google.com/search?q=Ban+on+panipat&amp;rlz=1C1GCEU_enIN864IN864&amp;oq=Ban+on+panipat&amp;aqs=chrome..69i57j69i60.2386j0j7&amp;sourceid=chrome&amp;ie=UTF-8">demanded ban on</a> the movie as it portrays Bharatpur king Maharaja Surajmal in an unseemly manner.

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Indian moviegoers might stay home this August in spite of big releases, says survey

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It’s not Bollywood films, it’s the superstars that people seem to be tired of

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Pati Patni, Woh aur paisa — the Kartik Aryan starrer earns twice as much as Arjun Kapoor’s Panipat

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