PVR THEATRES
Taylor Swift, Virat Kohli & BTS: PVR Inox shuffles its box of tricks to stay relevant
PVR Inox shifts strategy with cricket and concerts amid low footfall and revenue in Q4FY24. Despite challenges from elections and IPL, the diversification aims to sustain growth. The cinema chain eyes southern India for screen expansion, banking on regional content's success. Analysts, however, foresee a tough FY25 for PVR amidst operational hurdles.
Devyani, PVR Inox form JV to develop food courts in malls
Devyani International has formed a 51:49 joint venture with multiplex operator PVR Inox to develop and operate food courts within shopping malls in India. The companies have no consideration exchanged and will invest in the proposed company's share capital in a 51:49 ratio. Existing food court businesses will not be part of the proposed company's business until the expiry, termination, or renewal of contracts.
Entertainment sector leasing registers 179% Y-o-Y growth
The entertainment sector, including movie theatres, gaming arcades, and children's play areas, experienced a doubling of space take up in 2023. Consumer demand for entertainment experiences within retail spaces increased significantly due to factors like technology advancements and the release of blockbuster hits. Urban cities, including Bangalore, returned to normalcy with notable brands securing space in retail spaces.
PVR INOX elevates Mumbai cinema with city's first standalone IMAX with Laser theatre experience
PVR INOX, India's leading cinema exhibitor, has unveiled its first standalone IMAX with Laser theatre at INOX EROS in Mumbai, marking a significant upgrade to the iconic EROS cinema. With a seating capacity of 305, the theatre promises an immersive viewing experience with IMAX technology, delivering crystal-clear images and vibrant colours.
PVR Inox Q3 Results: Profit falls 20% to Rs 12.8 crore; revenue up 64%
PVR Inox reported a 20% decline in consolidated profit after tax (PAT) at 12.8 crore in Q3 FY24. Revenue from operations increased 64% YoY to 1,546 crore. The company recorded 36.5 mn admissions with an average ticket price of 271 rupees. PVR Inox continued its growth momentum with 29 new screen openings in the quarter, reducing net debt by 210 crore.
70 pc occupancy for Ram Mandir inauguration live broadcast: PVR INOX
The new Ram Lalla idol was consecrated at the Ayodhya temple on Monday, an event led by Prime Minister Narendra Modi. The live broadcast in cinemas was conducted in association with Aaj Tak.
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KKR looks to book a big-ticket investment in BookMyShow of up to $300 million
This will be the largest fund-raising round by Bigtree Entertainment Pvt. Ltd, which operates BookMyShow. Reliance unit Network 18 is the largest shareholder with a 37% stake.
Regional movies hold promise for PVR amid lack of Hindi blockbusters
Analysts point out that only a few big-budget films worked at the box office during the quarter compared with the previous quarter which had successful films released in Hindi, English and regional languages. Poor performance of mid-and-small budget films -- fourteen such films were released in the December quarter-- added to the woes of multiplexes.
Jason Statham's high-octane thriller 'The Beekeeper' to hit Indian theatres in January 2024
The film follows the story of Adam Clay, a retired member of the covert group 'The Beekeepers,' who is pulled back into action when his elderly neighbour falls victim to a sinister scam.
World Cup 2023 final: Cinema owners elated with 'extraordinary' advance booking match screenings
Leading theatre chains PVR INOX and Miraj Cinemas will be screening live broadcast of Sunday's final match from the Narendra Modi Stadium in Ahmedabad, and according to the theatre owners, the response to the advance booking has been "extraordinary". Sanjeev Kumar Bijli, Executive Director, PVR INOX Limited, said they have already sold over 45 per cent of the tickets for the match screening.
'Tiger 3' may cross Rs 200 cr in first week, predict experts
Trade analyst Atul Mohan said 'Tiger 3' has shown "decent" advance sales and may register an opening anywhere between Rs 35 to Rs 40 crore.
Studios fail to talk up movies, theatres pay the price
In stark contrast to an exceptionally good September quarter, the Hindi film industry has faced a subdued start to the December quarter, with all 14 movies released in October failing to attract significant audiences to theaters. Notably, big studios and distributors largely refrained from investing in pre-release marketing and promotion, leaving moviegoers unaware of the titles.
More and more audiences are now going back to cinema
Movie theatres are experiencing a resurgence as audiences return after the COVID-19 pandemic, dispelling concerns that streaming platforms would dominate. Theatre chains like PVR Inox are reporting strong numbers, with the south of India almost reaching pre-pandemic levels. While digital revenue cannibalizing ticket sales hasn't materialized, the cinema hall business has changed.
PVR Inox logs over Rs 200-crore profit in second quarter
PVR Inox, a multiplex operator, reported its best quarterly results ever with a net profit of ₹207 crore for the three months ending September 30. This is a significant improvement from the net loss of ₹78 crore in the same period last year. The company's revenue nearly doubled to ₹2,020 crore, boosted by the success of blockbuster movies.
National Cinema Day draws over 6 million moviegoers to theatres: Multiplex Association of India
The Multiplex Association of India (MAI) announced that over six million people went to the cinemas on the second edition of National Cinema Day. More than 4,000 screens participated in the event, with tickets priced at Rs 99. The MAI stated that the overwhelming response to the initiative is a reminder of people's love for the big screen movie watching experience.
National Cinema Day: Watch your favourite new release on big screen for just Rs 99!
National Cinema Day is being celebrated by over 4,000 multiplex chains all across India. It is an attempt to bring audience back to the movie theatres.
PVR Inox sees strong second quarter for cinema exhibitors
"I hope that comes true," Tandon said when asked if the July-September period would be the best quarter for the cinema exhibition industry. "The last couple of weeks have been extraordinarily good for footfalls in cinema halls, and even the pipeline looks very exciting."
SRK's Jawan keeps box-office counters ringing after record collections in Aug
Shah Rukh Khan's latest film, "Jawan," has broken box-office records by earning ₹74.5 crore on its opening day, surpassing the previous record set by his film "Pathaan." The film's global gross collection stood at ₹130 crore, with ₹90 crore from India and ₹40 crore from overseas.
SRK-starrer Jawan's 'brea-KING' business hopes spread movie industry's arms wider to capture more revenues
Shah Rukh Khan's Jawan: The Indian cinema industry is experiencing a remarkable comeback, with recent releases like Pathaan, Jawan, Gadar 2 and OMG 2 contributing to record-breaking success. PVR Inox, the largest multiplex chain operator in India, has seen a 32% increase in revenues for the quarter ended June 30. With upcoming big-budget movies like Salman Khan's Tiger 3, Animal, and Dunki, the industry is expected to continue attracting audiences and generating more revenue.
PVR rises on big box-office run, likely to see more gains
The stock declined 0.7% to ₹1,698 on Tuesday. Earlier this week, PVR surged to ₹1,744 - the highest level in nearly seven months. Cinema exhibitors have had a turbulent ride in the last three-four years on account of a prolonged shutdown due to the Covid-19 pandemic, audiences' hesitancy to venture into crowded places, a weak content pipeline and dominance of OTT (over-the-top) platforms.
PVR INOX launches standalone IMAX property at iconic Priya Cinema
Multiplex chain PVR INOX on Thursday announced that they have converted Priya Cinema, one of the first theatres they opened in the national capital, into a state-of-the-art standalone IMAX theatre. The property at Basant Lok Complex, Vasant Vihar, will feature a next generation laser projection and multi-channel sound system exclusive to IMAX theatres for a truly immersive experience.
Relive nostalgia as Hrithik Roshan's ‘Koi...Mil Gaya’ set to re-release in theatres on film's 20th anniversary
To commemorate the 20th anniversary of the release of ‘Koi… Mil Gaya’, the sci-fi blockbuster that showcased Hrithik Roshan as a developmentally disabled man and Preity Zinta as his love interest will be re-released in select theatres across India on August 4.
F&B sold at cinemas to attract 5% GST, industry welcomes move
The multiplex industry has welcomed the GST Council's notification that food and drinks (F&B) sold at movies will be covered under the definition of ‘restaurant service’ and will be subject to a 5% GST, an issue that has been the source of disputes and litigation in recent months.
Adipurush box office predictions: Theatre owners and trade experts predict record-breaking opening collection
In an interview with PTI, Gautam Dutta, PVR INOX Limited co-CEO, said they have already crossed "over 3 lakh bookings for the 1st weekend". "It's going to be one of the biggest films this quarter. The leading languages in this film would be Telugu and Hindi, followed by other languages, and Prabhas being a very popular star down south, that coupled with the entire north belt should give the film a colossal opening," Dutta told PTI.
Higher F&B revenue of little help to multiplexes if movies fail to impress
The share of food and beverage (F&B) revenue in the total revenue generated by key multiplexes has been increasing amid falling footfalls and rising prices of such items. However, they may not be able to raise prices further if the footfalls fail to show an uptick. This is largely because of lower footfalls and advertising revenue. Between FY20 and FY23, the number of admissions and advertising revenue in PVR fell by 16.6% and 31% respectively.
PVR Inox chief calls upon studios to ramp up production for theatrical releases
Alluding to the trend of releasing films directly on over-the-top (OTT) platforms during the pandemic, PVR Inox MD Ajay Bijli urged the stakeholders to ensure that theatres remain the first window of film monetization. He also stated that increasing the theatrical window of a film is an idea whose time has come. In its earlier corporate presentation, PVR Inox stated that the theatrical window had been extended to eight weeks in India.
Ranbir Kapoor, Deepika Padukone's 'Tamasha' re-releases in theatres for Valentine's week
'Tamasha' is a film that depicts the essence of love in modern times from an entirely new angle. It has been released in all PVR cinemas across the country on Valentine's week.
Cinema halls can set terms for sale of food and beverages inside premises: Supreme Court
The Supreme Court pronounced its verdict on a batch of pleas filed by theatre owners of Jammu and Kashmir and the Multiplex Association of India challenging a J&K High Court order which prevented moviegoers from carrying their own food and beverages into movie halls.
Ahead of Dilip Kumar’s 100th birth anniversary, theatres pin hopes on ‘Hero of Heroes’ festival
PVR opened the advance booking for the festival on December 3.
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