Following a string of big-budget Bollywood releases such as Laal Singh Chaddha, Cirkus, Ram Setu, Vikram Vedha and Bhediya, failed to bring audiences back to theaters, but India’s largest multiplex chain PVR says it’s content and it’s not a matter of price. “The problem is not as big as assumed, with 75-80% footprints returning from pre-pandemic levels. This is definitely a matter of content. It sold and is one of the biggest box office hits in the country,” PVR co-managing director Sanjeev Kumar Bijiri told Business Today.
Bijli will be on board with upcoming Bollywood releases such as Pathaan starring Shah Rukh Khan which will be released on January 25th, Kartik Aaryan’s Shahzada which will be released in early February and Tu Jhoothi Main Makkaar starring Ranbir Kapoor which will be released early. I have high hopes. March this year. “These Bollywood titles look promising. Then there are Hollywood big names like Ant-Man, Magic Mike’s Last His Dance, 65, etc. We are expecting,” he said. rice field. “While the footsteps are coming back, we want them to be 100% more likely to come back.”
On March 27th of last year, PVR and Inox Leisure announced their merger. The company expects to complete the rest of the process by the end of the year. After the merger, we will have a total of 1,600 screens. The multiplex operator said he aims to have 1,000 screens in operation by the end of fiscal year 2024, reaching the milestone of 900 screens on Monday. “We are well on our expansion process. It’s about entering a market that has the potential to do that,” he said.
The company focuses on small towns and cities for expansion. “We just opened eight screens in Jaipur and for the past 25 years there has not been a complex there. “We are considering unserved suburbs such as Vasai, Hubli, Jamnagar, Bikaner and Ajmer, as these locations do not have multiplexes and generally have very limited entertainment options.” Bijiri said.
He added that being in small towns and cities is important for all consumer facing businesses. There is a lot of potential because the box-office index for movies is so high in big cities in South India, such as,” he said.
Bijli acknowledges that consumer tastes have evolved. “Whether or not consumer tastes have changed, we cannot prove it. OTT has a lot of content, certainly the consumer is much more evolved, and in cinemas he is OTT, They are consuming better content because they are exposed to quality content.”
But he adds that the different types of content coming to theaters will bring them to the fore. And then there’s Drishyam 2, which is great storytelling, and we still don’t know what works and what doesn’t.We’ve been playing all the content and hope everything goes well. he added.
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Also read: It will take another 2-3 quarters for multiplex traffic to return to pre-Covid levels: PVR