'BTS Permission to Dance' garners highest ticket price in PVR theatres

PVR on March 12 screened live the concert “BTS Permission to Dance”, performed in Seoul, at its theatres in 25 cities of India at a ticket price of Rs 1,200, the highest ever for any movie or alternative content.

Due to high demand, it was replayed at 6 pm that same day.

“This average ticket price for the BTS show was unprecedented. This is the highest we’ve charged as an average ticket price for any film or for any alternative content,” Kamal Gianchandani, chief executive officer of PVR Pictures, told Business Standard.

The average ticket price for a movie in FY20 was around Rs 200 and that was before the pandemic, Gianchandani said. However, other alternative-content shows will not have such high prices and will be priced in a range similar to those of movie tickets.

He, however, noted average ticket prices would go higher this year because PVR has not hiked rates since 2019.

Both cinema chains —PVR and Inox Leisure — are looking to increase revenue from events like live shows; sporting events, which also include tournaments; and the live broadcasting of matches over the next few years.

Currently PVR sees less than 1 per cent of its revenues from alternative content.

In FY23, Inox Leisure expects to see 2-3 per cent of its revenues from alternative content and expects it to go up to almost 5 per cent in the next few years.

Inox is looking at showcasing not just cricket matches, like it has done in the past. It is also looking at various other sports including football and is considering showcasing Formula 1 races, along with having tennis on the cards.

PVR expects 3-4 per cent of its revenues from alternative content in the next two to three years.

“We've been pursuing it (alternative content) for the past many years. But ultimately theatres are for films. Our mainstay, our staple diet, is feature films but like any other business, it's a natural progression, where you want to add as many new revenue streams as possible. And this is a step in that direction,” Gianchandani said.

In the past, PVR has also played live sports events as well as Esports gaming. It has shown recordings of museum exhibitions as well and is looking at various other initiatives in the alternative content space.

Anand Vishal, chief sales and revenue officer, Inox Leisure, said while movies would continue to remain the flagship business, content consumption was changing.

Vishal said: “In the scheme of things, besides movies, the consumer has a need for certain other things which we can fulfil, namely, sporting events, musical events, concerts, shows, plays, and theatre and have now added Esports.”

“We want to have friendly matches on a Sunday morning when 200 people can come. So, instead of planning a movie, we will have these gaming sessions.”

Vishal said gaming as a concept would take time and energy to pick up pace in India. In February, Inox Leisure and Esports Federation of India (ESFI) announced a partnership to offer a viewing experience of Esports tournaments.