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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

PVR’s Q1 show driven by pricier tickets and blockbusters

<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>Both <keyword id="799" type="General" weightage="20" keywordseo="pvr" source="Orion">PVR</keyword> and <keyword id="6407732" type="General" weightage="20" keywordseo="inox" source="Orion">INOX</keyword> reported their best ever quarterly performance in the June quarter of the current fiscal year.</li><li>The duo need a few big Bollywood films to keep audience from coming in, if they want to maintain their growth.</li><li>Most big budget Bollywood movies over the past few months have been duds at the boxoffice.</li></ul>Shamshera, Samraat Prithviraj and Jayeshbhai Jordaar have something in common. They aren’t just the latest Bollywood movies that couldn't bring Indians back to theatres — they’re also three successive releases of A-listers that have flopped. This lack of enthusiasm for Bollywood is not just affecting the actors and producers but also movie theatres which are banking on superhits to get back in the black – after a long period of pandemic-induced shutdown. Brokerage firms are worried that more Bollywood releases might not enthuse the OTT-saturated public to go to the theatres. It will affect footfalls, and have a cascading effect on ad revenues, the theatre chains’ ability to go in for price hikes and more. Several analysts quizzed Inox’s director Siddharth Jain about the same during the quarterly earnings conference call. Jain emphasised multiple times that bad movies would not have an impact on the footfall for its business. “Q1 [April to June] has been great but after that few movies have not done well. That does not mean that people will shy away from coming to the theatres… One or two movies not working, or one month not doing well, does not mean that people will refrain from coming to the theatre to watch a movie or the entire pipeline is bad,” he said. Yet, analysts are not mollified. They do not believe that the audience is ready to go back to watch ‘average movies’, especially since they’re spoilt for choice by multiple OTT options, in addition to traditional TV. When big movies flop, theatres lose as much as producers. “The most prioritized goal for multiplexes like PVR and INOX is to fill the theatre with audiences to maximise their profit. But flop movies fail them to accomplish this goal. Being the distributor, they face no less amount of loss than the producers,” Manoj Dalmia, founder and director of Proficient Equities Private, told Business Insider India. <cmsannotation type="cmsannotation" annotationid="Lockdown boredom plus content equals footfalls" comment="subhead" text="Lockdown boredom plus content equals footfalls">Lockdown boredom plus content equals footfalls</cmsannotation> PVR’s CEO Kamal Gianchandani, in the company’s post-earnings <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/ccbc2ff2-f647-49e5-893e-bf7bad7b9096.pdf">analyst call</a> held on July 25, however said he believed that their first-quarter performance was a combination of people bored of lockdown ‘going out’ as well as content. He emphasised that the quality of movies that came out between April and June was “exceptional” and that had a big role to play in people’s enthusiasm for watching movies in theatres. “The consumer appeal for movie theatres is very much intact and it’s also the quality of content,” he noted. The theatres did a stellar March business thanks to South hits like KGF and RRR in addition to Kashmir Files and Gangubai Kathiawadi. In spite of the sales, the two listed movie chains — Inox and PVR both posted net losses for the first quarter of ₹239 crore and ₹478 crore in the fourth quarter, respectively. They’re still on the road to recovery and for that, they need more ‘recovery worthy movies’, and that can only come from Bollywood. According to analysts, while South movies helped in the past, only big Bollywood movies that are released across multiple screens can bring them the recovery that they need. <table style="border-width: initial; border-style: none;" 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;">Movies Releases </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 Date </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;">Opening Day </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;">Lifetime earning, as on August 1 </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;">Shamshera </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;">July 22, 2022 </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;">₹10.25 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;">₹45 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;">Thank You </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;">July 22, 2022 </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;">₹4.5 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;">₹9.43 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;">Vikrant Rona </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;">July 28, 2022 </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;">₹35 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;">₹110 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;">Ek Villain Returns </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;">July 29, 2022 </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;">₹7.95 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;">₹26.5crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Bollywood Hungama, Media Reports <cmsannotation type="cmsannotation" annotationid="Time for Bollywood to step up" comment="subhead" text="Time for Bollywood to step up">Time for Bollywood to step up</cmsannotation> Both the companies have been pinning their hopes on movies 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 to help maintain footfalls in the ongoing July-September quarter. “The movies are looking good in August, and in September we also have some great movies lined up. And I am very hopeful that these movies will be treated well at the boxoffice,” Inox’s Jain noted. Aamir Khan’s Laal Singh Chaddha has already started to draw some criticism for <a href="https://www.timesnownews.com/entertainment-news/kangana-ranaut-targets-aamir-khan-ahead-of-laal-singh-chaddhas-release-says-he-gave-biggest-hits-even-after-hinduphobic-pk-calling-india-intolerant-article-93320043">various reasons</a>. Meanwhile, calls to boycott Akshay Kumar-starrer Raksha Bandhan were also made on <a href="https://www.india.com/entertainment/boycott-raksha-bandhan-movie-akshay-kumar-film-trending-twitter-kanika-dhillon-heres-the-reason-5550340/">Twitter earlier</a> on August 4. Going by the trend, many big releases across multiple screens and languages have flopped badly in the last six months – be it Kangana Ranaut’s Dhaakad, Akshay Kumar’s Bachchan Pandey or Prabhas’ Radhe Shyam. Ranveer Singh’s 83 did average business, while Puspa released along with it, was the lone outlier that was a superhit. As per PVR’s own admission, in spite of high expectations of blockbuster performance from movies in the pipeline, they do not expect a full recovery for another six months. “Our sense is, by December of this year, where we have had a big run of films, effectively recovery should take shape fully because you must also understand that in a country like India, there is a very large segment of people who show up at the theatres only once or twice a year,” Nitin Sood, CFO of PVR, said. This whole struggle is inextricably tied to already low ad revenue, which is a big part of revenue for any multiplex business. Both PVR and INOX, despite a strong movie pipeline in Q1, have not yet reached their pre-Covid ad revenue figures. Reaching there will depend on good content. “Good content is very important for a client, because he knows that content will have footfall and there will be more people seeing his ads. There will be more eyeballs watching his ads,” Jain added. Till the movies release, it will be a wait-and-watch game to see if Bollywood delivers the blockbusters that the theatres desperately need. SEE ALSO <a href="https://www.businessinsider.in/retail/news/aditya-birla-fashion-records-its-highest-ever-q1-sales-hopes-q2-to-be-bigger/articleshow/93374170.cms">Aditya Birla Fashion records its highest ever Q1 sales, hopes Q2 to be bigger</a> <a href="https://www.businessinsider.in/finance/news/its-time-to-shift-to-fixed-home-loan-rates-say-experts-after-third-rate-hike-in-4-months/articleshow/93371845.cms">It’s time to shift to fixed home loan rates, say experts after third rate hike in 4 months</a> <a class="tout-title-link" href="https://www.businessinsider.in/india/news/indian-consumers-are-packing-their-bags-to-travel-to-goa-and-bali/articleshow/93393370.cms">August has a long weekend and Indian consumers are packing their bags to travel to Goa and Bali</a>

Bollywood’s flops now pose a big risk to multiplex chains

<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><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. SEE ALSO <a href="https://www.businessinsider.in/finance/news/the-worst-of-the-rupees-decline-might-be-over-as-market-expects-us-fed-to-dial-down-pace-of-hikes/articleshow/93290895.cms">The worst of the rupee's decline might be over as market expects US Fed to dial down pace of hikes</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/markets-on-a-wait-and-watch-mode-as-they-await-cues-from-rbi/articleshow/93290015.cms">Markets on a wait and watch mode as they await cues from RBI</a> <a href="https://www.businessinsider.in/business/auto/news/as-new-cars-get-pricier-pre-owned-bmws-audis-and-porsches-get-more-attractive/articleshow/93275786.cms">As new cars get pricier, pre-owned BMWs, Audis and Porsches get more attractive</a>

PVR manages to outperform INOX in Q1 of FY2023

<ul><li><keyword id="12610293" type="General" weightage="20" keywordseo="PVR-theatres" source="Orion">PVR theatres</keyword> will screen some handpicked old classics of <keyword id="2217" type="General" weightage="20" keywordseo="Big-B" source="Orion">Big B</keyword> across 22 cinemas in 17 cities.</li><li>The Blockbuster festival will release 11 movies from October 8 to 11 in theatres.</li><li>The concept of re-releasing movies in India is relatively less popular.</li></ul>To celebrate the 80th birthday of legendary actor <keyword id="6357912" type="General" weightage="20" keywordseo="Amitabh-Bachchan" source="Orion">Amitabh Bachchan</keyword>, PVR theatres will screen a few of his classics across 22 cinemas in 17 cities, announced the <keyword id="2670358" type="General" weightage="20" keywordseo="Film-Heritage-Foundation" source="Orion">Film Heritage Foundation</keyword> (FHF). <div type="twitter" handle="FHF_Official" handlename="Film Heritage Foundation" image="http://pbs.twimg.com/profile_images/532145161661206528/wQgqjSOO_normal.jpeg" favoritecount="365" retweetcount="65" status="To celebrate the 80th birthday of the biggest icon of Indian cinema, FHF and @_PVRCinemas proud to present “Bachcha… https://t.co/d9w3Uzr7Px" createdat="1664520736000" id="1575740292178710528"></div> The Blockbuster festival — Bachchan back to the beginning — will release 11 movies from October 8-11 in theatres for the Indian audience. PVR has also rolled out a movie pass for all Big B fans to enjoy and cherish all the films on the silver screen once again. However, the list excludes one of the most loved films, which made a remarkable impact on the audience in the old days of 1975, Sholay. Netizens showcased their disappointment on Twitter in replies to the official announcement made by the FHF. <div type="twitter" handle="Hari_Priya81" handlename="DontMessWithTheABCDEFG" image="http://pbs.twimg.com/profile_images/1572418659712401410/Hwz-0aeh_normal.jpg" favoritecount="0" retweetcount="0" status="@FHF_Official @_PVRCinemas @SrBachchan @roykapurfilms @smmausaja @ZEECorporate Sholay yaada ra Howle😪" createdat="1664531839000" id="1575786864174211072"></div> In the era before satellite television, it was common for theatres to re-release old movies. But with multiple movie channels, their appeal waned. However, a few movie buffs who enjoy the big screen impact had been missing them. Here are all the Big B movies that will hit silver screens again — 1. Kaala Patthar Amitabh Bachchan, along with Shatrughan Sinha and Shashi Kapoor were a part of this critically-acclaimed movie. The movie was based on the tragic Chasnala mining disaster where flooding in the mines had taken the lives of over 300 miners. Bachchan plays the role of a tortured merchant navy captain who becomes a miner to forget his tragic past. 2. Kaalia Written and directed by Tinnu Anand, this movie is yet another memorable movie from Bachchan’s angry-young-man era. It’s the story of a happy-go-lucky young man who gets pulled into the world of crime after a life-changing incident. 3. Silsila Widely popular for its hit track Yeh Kahan Aa Gaye Hum, the triangular love story was a casting coup pulled off by producer-director Yash Chopra. While the lead actors Bachchan and Rekha were rumoured to be real-life lovers, the movie also stars his wife, Jaya Bachchan. 4. Amar Akbar Anthony Bachchan plays the second brother of this divided-at-birth brothers’ story that also stars Rishi Kapoor, Vinod Khanna, Parveen Babi, Shabana Azmi and Nitu Singh. Cleverly bringing in religious unity, the movie is about brothers finding their way back to each other even as their worlds clash. Khanna plays a police officer, Bachchan a petty thief and Rishi Kapoor is a musician. 5. Namak Halaal It was one of the biggest comedy blockbuster movies of 1982. The masala film is about Arjun (Bachchan) who moves to the city in search of a job and ends up befriending the man whom his mother raised as his own son. 6. Abhimaan The popular musical is about two musicians who are husband and wife. Jealousy overtakes Bachchan who realises that his talented wife, played by Jaya Bachchan, is becoming more popular than him. 7. Don The movie, which had the third-highest box office revenue collections in 1978, revolves around the life of gangster named Don, played by Bachchan. Even though it was remade by Farhan Akhtar starring Shah Rukh Khan in two parts, the original with Pran and other actors is a movie worth watching. 8. Satte Pe Satta The movie embodies the concept of an ensemble cast as it has six actors who play the brothers of Bachchan, who is of course the eldest. It stars Hema Malini, Amjad Khan, Ranjeeta Kaur and Sachin Pilgaonkar, Shakti Kapoor and more in lead roles. 9. Mili Released in 1975, the movie revolves around a girl who suffers from pernicious anaemia and a depressed alcoholic, who eventually fall in love with each other. The film was later remade in Telugu in 1976 as Jyothi starring Jayasudha in the title role. 10. Chupke Chupke The family comedy starring Dharmendra, Sharmila Tagore, Jaya Bachchan and Big B has come to be known as a masterpiece. The story is an elaborate prank played on a self-assured lawyer and businessman who is Dharmendra’s brother-in-law Om Prakash. In spite of its high-profile cast, Om Prakash’s act as the unsuspecting victim has won many hearts. 11. Deewar Want to know where the classic line, “Mere paas maa hai” comes from? Watch this movie on the big screen – the tale of two brothers Vijay and Ravi, who follow different paths. Vijay (Bachchan) becomes a wanted smuggler, while Ravi (Shashi Kapoor) becomes an honest police officer and destiny makes their paths cross. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-to-begin-beta-trial-of-5g-in-four-cities-on-dussehra-with-unlimited-data/articleshow/94645577.cms">Reliance Jio to begin beta trial of 5G in four cities on Dussehra with unlimited data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-950-billionaires-asia-outnumbers-all-other-regions-forbes/articleshow/94644883.cms">With 950 billionaires, Asia outnumbers all other regions: Forbes</a>

Big B’s best movies are back on the big screens - Here are 11 you can watch

The Covid pandemic might have battered the cinema exhibition industry's core business but it has also accelerated diversification, <keyword id="799" type="General" weightage="100" keywordseo="pvr" source="Orion">PVR</keyword>'s Chief Executive <keyword id="9154" type="General" weightage="20" keywordseo="gautam-dutta" source="Orion">Gautam Dutta</keyword> said. In a conversation with IANS, Dutta said the pandemic has given a push to diversify the business and fully utilise available resources. "We have forayed into new segments such as packaged F&amp;B (PVR popcorn) and now 'V-Pristine'. The pandemic gave us time and the necessity to plan for these new ventures," he said. "There are other new initiatives as well that we plan to launch in the near future. These new products will cater to the growing demand for differentiated and specialised services like 'V-Pristine'." Recently, PVR forayed into customised cleaning and disinfecting solutions for commercial and residential segments under its new business vertical 'V-Pristine'. At present, 'V-Pristine' is available in Delhi-NCR with more than 1,000 residences and offices across 46 cities covered in the first phase of trials covering six months. Besides, the company has tied-up with Reliance Industries' retail subsidiary for starting <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s first ever open-air rooftop theatre -- Jio Drive-in -- at the premium shopping mall, Jio World Drive (<keyword id="12452736" type="General" weightage="20" keywordseo="jwd" source="Orion">JWD</keyword>) in Mumbai. The drive-in theatre will be operated by PVR and would have capacity for 290 cars and boasts of the biggest cinema screen in town. Additionally, the company has collaborated with Esports company <keyword id="3492146" type="General" weightage="20" keywordseo="nodwin-gaming" source="Orion">NODWIN Gaming</keyword> to launch India's first "In-Cinema Esports" live tournaments. On the company's core business, Dutta said that pent-up demand, along with new content, has drawn in moviegoers, thereby accelerating the recovery. The sector, formally known as 'cinema exhibition industry', has been one of the hardest hit due to the Covid-19 pandemic, causing revenue and employment loss. Till recently, cinemas and multiplexes in many states remained in the list of prohibited activities to curb the spread of the pandemic. However, accelerated pace of vaccination as well as easing Covid restrictions and lower transmission rates have turned the tide for the sector. Besides, new local, global and regional content have once again lured many moviegoers back from online streaming platforms to theatres. "Rising vaccination levels, lower infection rate and release of big-ticket movies has brought back moviegoers." "With lesser to no capacity restrictions, we believe that pre-pandemic levels will be achieved within the next few months." However, he cautioned that the growth will be stalled if another Covid wave hits the country. Furthermore, Dutta pointed out that festive season as well as healthy line-up of movie releases will surely boost the footfall levels at the company's properties. "This year we have new content coming in from international, domestic and regional studios." "Some markets in the north and in the South India region are close to reaching their pre-pandemic levels." Currently, PVR is the largest film exhibition company in India. It operates a cinema circuit comprising of 856 screens at 179 properties in 72 cities in India and Sri Lanka. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-vs-scotland-at-icc-t20-world-cup-do-or-die-situation-for-team-india/slidelist/87515627.cms">India vs Scotland at ICC T20 World Cup: Do or die situation for Team India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/britains-five-pound-diwali-coin-has-mahatma-gandhis-quote-and-a-lotus/articleshow/87523616.cms">Britain's five-pound Diwali coin has Mahatma Gandhi's quote and a lotus</a>

COVID-19 pandemic accelerates PVR's business diversification, says PVR's Chief Executive

<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><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>March 2022 turned out to be the best months for both <keyword id="799" type="General" weightage="20" keywordseo="pvr" source="Orion">PVR</keyword> and <keyword id="6407732" type="General" weightage="20" keywordseo="inox" source="Orion">INOX</keyword> Leisure due to stellar movie releases.</li><li>The companies can still replicate the March success due to the strong movie pipeline set up for this year.</li><li>“2022 or financial year 2023 will be one of the best for the Indian film industry,” INOX CEO Alok Tandon said.</li></ul>Afer a stellar March business, movie theatres are hoping to make a comeback — but they need movies that can move the audiences away from OTTs and TVs. This is the view held by five brokerage firms — ICICI Securities/Direct, Motilal Oswal, Prabhudas Lilladher and ShareKhan. They believe that good movies can help them replicate the March success which came with superhits like the controversial Kashmir Files; Rajamouli’s RRR, Sanjay Leela Bhansali’s period drama Gangubai Kathiawadi, followed up by KGF 2 in April. “They witnessed a March — which was the best ever in the history, led by superlative performances of movies,” ICICI Direct said in its views on PVR and INOX both. The March footfalls made up for half of the Jan-March quarters footfalls in theaters. But both these companies need more than a good month to turn things around. A strong recovery in footfalls and sales of these listed theatre companies will be driven by ‘strong content slate lines’, as per ICICI Direct. If all goes well, it estimates that both these companies can cross their pre-covid earnings in the current financial year. These companies are in desperate need of a ‘recovery worthy’ movie releases. In spite of a good revenue growth, INOX and PVR both are still in the red — posting losses of ₹239 crore and ₹478 crore in the fourth quarter, respectively. <cmsannotation type="cmsannotation" annotationid="The Khan-Karan factor" comment="subhead" text="The Khan-Karan factor">The Khan-Karan factor</cmsannotation> The next phase of turnaround can come from another set of long-delayed and much-hyped movies with A-list stars. All the three Khans have movies planned this year — which had become a rare occurrence even in the years before the pandemic. Aamir Khan has Lal Singh Chaddha, that’s a remake of Tom Hanks’ Forrest Gump. Salman Khan also promises another movie from his formulaic stable — called Kabhi Eid Kabhi Diwali. The King of Khans — Shah Rukh Khan too is releasing a movie after four years called Pathan. The fact that these Khan movies are ‘much-awaited’ can help drive footfalls. INOX CEO Alok Tandon spoke of an influx of good releases in FY23, in a conversation with Business Insider India. “2022 or financial year 2023 will be one of the best for the Indian film industry… I feel like we have some very, very strong lineup,” Tandon said. He also confirmed that March was their best month yet and the movie business had been operating in limited capacity over the last few years due to Covid-19. Then other bankable stars like Ranveer Singh and Ranbir Kapoor too have releases this year — at least one of them is bankrolled by Dharma Productions, lead by Karan Johar. <cmsannotation type="cmsannotation" annotationid="Movies that can move PVR, INOX Leisure’s profits from red to green" comment="subhead" text="Movies that can move PVR, INOX Leisure’s profits from red to green">Movies that can move PVR, INOX Leisure’s profits from red to green</cmsannotation> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Upcoming 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;">Expected Release </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;">Cast </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;">Samrat Prithviraj </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;">June 2022 </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;">Akshay Kumar, Sanjay Dutt, Sonu Sood </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;">Ek Villain Returns </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;">July 2022 </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;">John Abraham, Arjun Kapoor, Aditya Roy Kapur, Disha Patani </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 2022 </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;">Aamir Khan, Kareena Kapoor </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 </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 2022 </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;">Ranbir Kapoor, Alia Bhatt, Amitabh Bachchan, Nagarjuna, Mouni Roy </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;">Avatar: The Way of Water (English) </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;">December 2022 </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;"> Zoe Saldaña, Sigourney Weaver, Stephen Lang, Cliff Curtis </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;">Kabhi Eid Kabhi Diwali </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;">December 2022 </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;">Salman Khan, Pooja Hedge, Kriti Sanon, Aayush Sharma </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;">Pathaan </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 2023 </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;">Shah Rukh Khan, Deepika Padukone, Salman Khan, Dimple Kapadia, Ashutosh Rana, John Abraham </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;">Rocky Aur Rani Ki Prem Kahani </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;">February 2023 </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;">Ranveer Singh, Alia Bhatt, Dharmendra, Shabana Azmi </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;">Luv Ranjan's next starring Ranbir Kapoor </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;">March 2023 </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;">Ranbir Kapoor, Shraddha Kapoor </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Badly in need of a superhit" comment="subhead" text="Badly in need of a superhit">Badly in need of a superhit</cmsannotation> The many high profile releases must deliver as per expectations with ‘superhits’, for the companies to get back to their pre-Covid financials and footfalls. “Deterioration of content quality might affect footfalls and advertising revenue growth, inability to take adequate price hikes at the right time might affect earnings given rising input cost, and inability to maintain cost savings initiatives likely to impact operating profitability,” a ShareKhan report read. A lot of high profile releases also fell flat in the months ahead of March. There was a big buzz around Ranveer Singh and Deepika Padukone-starrer 83 — which was based on the 1983 cricket world cup that India won. However, it disappointed movie distributors as it was declared a theatrical flop. Singh’s Jayeshbhai Jordaar too did not live up to its expectations. Kangana Ranaut’s Dhakkad, Akshay Kumar’s Bachchan Pandey, Prabhas’ Radhe Shyam too failed to impress the audiences. Apart from 83, all the other movies were released after India had overcome the third Covid-19 wave. Pushpa and Spider Man in the Hindi belt — both released in December along with 83 — were among the few movies that managed to do well despite Omicron fears. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-gets-his-richest-indian-crown-back-with-a-wealth-of-104-4-billion/articleshow/91977090.cms" style="">Mukesh Ambani gets his ‘richest Indian’ crown back with a wealth of $104.4 billion</a> <a href="https://www.businessinsider.in/careers/news/inox-leisure-to-hire-3000-people-as-it-plans-to-add-77-new-movie-screens/articleshow/91964819.cms" style="">INTERVIEW: INOX Leisure to hire 3,000 people as it plans to add 77 new screens</a> <a href="https://www.businessinsider.in/business/startups/news/india-created-14-unicorns-in-the-first-half-of-2022-before-funding-slowdown-hit-them/articleshow/91955385.cms" style="">India created 14 unicorns in the first half of 2022 — before funding slowdown hit them</a>

Brahmastra, Laal Singh Chaddha and Avatar — movies that can determine the fortunes of INOX and PVR

<ul><li>IMAX currently has 22 theatres in Mumbai, Pune, Bangalore and Delhi. </li><li>India being one of the most important markets for its market size and social media presence, IMAX is now upping its game by launching newer technologies and expanding its reach further into Tier II and III cities. </li><li>As IMAX deploys its Laser Technology in India with PVR, we speak to John Schreiner, Senior VP - Theatre Development, about its logistics, marketing plan, vision for expansion, and growth trajectory.</li><li>IMAX has already installed two laser systems in Mumbai and Delhi last year. </li></ul>IMAX has nearly tripled its theatre network in India over the last three years, making it apparent how critical the Indian market for the company is, globally. Expanding its network further in the country and upping its quality, IMAX has partnered with PVR Cinema to deploy its laser technology in Forum Mall, Bangalore and Palazzo Mall, Chennai later this year. IMAX brought in laser technology into the country at the end of last year, which uses dual 4K projectors, 12-channel sound and a laser light source instead of a prism. It delivers a higher resolution output, with sharper and brighter images, and maintains a deeper contrast. IMAX entered into a strategic partnership with PVR back in 2011 to launch its first theatre in Bangalore. Today, it has 22 theatres, 20 operational and two that are just an approval away. The next phase of expansion for IMAX will be in Tier II and III cities. Telling us how important the Indian market is for IMAX globally, John Schreiner, Senior VP - Theatre Development, said, “India is such an avid movie-going market and consumers love great experiences. Therefore, our theatres have been very successful here, it is a strategic market for us and we hope to grow that number quite dramatically. We continuously work towards finding the right ingredients to bring IMAX -- not only to the major metros, but to the second and third Tier markets. We know there are a lot of fans in these markets who want that experience because they interact with us on social media. India is one of the most active markets for us globally, in terms of social media engagement.” For IMAX, Russia is the largest market, with 42 theatres. However, population-wise, India is a larger market than Russia and Schreiner says there is a huge room for growth here and it is hoping to case its net wider in the coming years. Marketing Strategy Interestingly, IMAX’s Executive Vice President, Global Brand &amp; Creative, Denny Tu used to work with Sky TV in the UK, making sure people stay at home and watch content on their smaller screens. Now at IMAX, he encourages the same audience to come out for pop-corn crunching, and jump-out-of-your-seat experience, which is what every filmmaker originally desired for. Sharing how IMAX gets consumers to step out of the ‘Netflix and Chill’ zone, Schreiner said, “We have launched a whole new brand strategy and campaign, which helps produce assets that encourage consumers to come out for content and experience it in the best way possible. That is also getting translated here in India. We, as a company, are highly regarded in India and we will continue to interact with our Indian fans on social media, this will help us create more successful theatres in India. Apart from that, we will be bringing more local content on IMAX screens, this is our holistic approach to growth here.” Growth of OTT a threat? The window between theatrical release and television premieres is decreasing, which is threatening the theatre businesses world over. However, Schreiner says this is the best time to be working with IMAX because content production has reached its tipping point. IMAX stands for higher quality and an immersive experience, whose network is only going to grow from here, believes Schreiner. “The window is decreasing and the pressure from various stakeholders is increasing but we view that as an opportunity because you can’t experience IMAX anywhere else. Studios are making grander spectacles for movie releases and we do well with that.” IMAX has also partnered with a few streaming platforms such as Apple for ‘Beastie Boys’ documentary. Schreiner says they will continue to experiment and bring newer content for its audience -- to expand its base. “This is the golden age of content production -- with all the studios and streaming houses, there hasn’t been so much content produced globally before than today. There is an opportunity for IMAX to take advantage of that and that is going to be a driving element for our future growth,” adds Schreiner. Globally, its mantra is to enhance customer experience. It is present in 82 countries and has 1700 theatres around the world. Annual Performance In the first half of 2019, IMAX theatres generated more than $7.76 million at the box office in India, up by 18% over the first half of 2018. The economic slow-down did not affect the company in India and even globally, it was a pink season for IMAX. In fact, Schrenier says that economic slowdown brings an uptick in consumer sentiment for the cinema industry. “Last year the performance of IMAX across the world was record-breaking. We had billion dollars in the box office, across all our networks. And in India, not only IMAX, but the cinema industry was strong and resilient as well. We have noticed this globally, whenever there is an economic slowdown, affordable luxuries tend to be very resilient because consumers may not go and buy a TV or a car, but they will take their family or partners to watch a movie,” says Schreiner. Schrenier has been a part of IMAX for 19 years now but the content industry is constantly evolving, which makes him feel like ‘he has worked with three different companies.’ He joined IMAX when it was selling film projectors to museums and educational institutions. Then they added Hollywood movies and transitioned to digital projection from films. Shrenier believes that the industry is about to enter another transition phase and he feels excited to be a part of it, and witness it change every day. Going forward, Schrenier will help IMAX focus on taking advantage of the golden age of content production, invest in newer technologies to enhance customer experience, and while they are at it, help all of its partners flourish together.

IMAX triples its network in India; plans to expand further to Tier II and III cities

New Delhi, Mar 18 () ICRA on Wednesday said it has retained positive rating on film exhibitor PVR even as several state governments ordering closure of cinema halls due to Covid-19 may have some bearing on the revenues of the company.The rating is based on a total loan of Rs 779 crore of the company, which includes non-convertible debenture of Rs 360 crore, Rs 200 crore from commercial paper and Rs 219 crore from fund based-term Loan."The ratings remain unchanged at the earlier ratings of AAA-(Positive)/A1+," it said."While ICRA takes cognizance of the impact that the closure of the screens is expected to have on the revenues and cash accruals of the company over the near term, the ratings remain supported by PVR's adequate liquidity, with available cash balances and unutilised working capital lines," it said.Further, PVR's the low debt repayment obligations over the next few months, coupled with healthy financial flexibility, provides additional comfort. "ICRA also notes that a significant part of the operating cost of the company is variable in nature which will enable it to reduce costs to some extent during this period of screen closure; however, on overall basis, the company is expected to report operating losses during the period of shutdown," it said.ICRA further said that it will "continue to monitor the developments in this regard and the corresponding impact on PVR's liquidity and overall financial position". Due to Covid-19 pandemic, several state governments have issued a directive for the closure of cinema halls till March 31, 2020."This has resulted in most of PVR's screens being shut down for the stated period. Additionally, several Bollywood and Hollywood movies are deferring release dates, which could also have some bearing on the revenues of the company," said ICRA. KRH KRH MRMR

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