Page 2 - Cinema Multiplex

PVR to invest Rs 350 cr in 100 new screens; expects Inox merger by Feb 2023

Film exhibition company PVR Cinemas will invest up to Rs 350 crore to open 100 new screens in FY23, a top official said on Monday. It also expects its mega-merger with Inox Leisure to close by February 2023, after which it will start to run as a combined business, PVR's chief executive Gautam Dutta told PTI over the phone. Pointing to the company's performance in the April-June quarter, he said patrons are coming back to halls to enjoy the cinema experience and the food and beverage sales are also up, which makes it more optimistic about expansion. "We will invest up to Rs 350 crore to open 100 screens in FY23. I see the same trend continuing in the next 2-3 years as well," Dutta said, stressing that the expansion will be a balanced one across geographies. About 60 per cent of the new screens will be in cities where the company already has a presence, while the rest will be in newer ones, he added. Locations, where it intends to expand, include Rourkela, Dehradun, Vapi, Chennai, .

Advertising in movie halls: From still cards to experiential marketing

While in-cinema advertising is yet to reach pre-pandemic levels, multiplex operators are making the next big leap to lure brands. Will it revive the market?

PVR reports Rs 53 cr net profit in Q1; revenue zooms multi-fold on low base

Leading multiplex chain operator PVR Ltd on Thursday reported a consolidated net profit of Rs 53.38 crore for the June quarter. The company had posted a net loss of Rs 219.44 crore in the April-June quarter a year ago, PVR said in a regulatory filing. Its revenue from operations rose to Rs 981.40 crore in comparison to a lower base of Rs 59.39 crore in the corresponding quarter last fiscal, when the screening business was disrupted due to the second wave of the coronavirus pandemic. PVR's quarter-on-quarter revenue was up 82.70 per cent as against Rs 537.14 crore in the January-March quarter of FY22, when some of its markets were disrupted due to a rise in Covid cases. Its total expenses was at Rs 917.19 crore in the period under review compared to Rs 417.06 crore in the year-ago period. In the latest June quarter, PVR's revenue from movie exhibition was at Rs 984.04 crore and Rs 25.34 crore from movie production, distribution and gaming, among others. It is currently operating 8

Multiplexes to post strong revenue growth in Q1, broadcasters to be muted

Q1 marks a full quarter of operations post pandemic for cinemas. This will reflect in financials of these firms, with likely revenue growth at 65-70% for PVR and Inox sequentially

Inox Leisure last quarter's net loss narrows down to Rs 28.17 crore

Multiplex chain operator Inox Leisure Ltd on Monday reported narrowing of consolidated net loss to Rs 28.17 crore for the fourth quarter ended March.

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

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

PVR plans to have 20% screens under luxury formats in near future

Terming luxury formats as more experiential in nature, PVR Joint Managing Director said it is the need of the times so that people come out of their homes to watch movies in cinemas after the pandemic

'Spider-Man: No Way Home' brings the audience back to the cinema halls

The third movie in the Spider-Man series has garnered Rs 47.5 crore gross box office advance sales

'Expect things to get normal for multiplexes by Q4FY22,' says PVR MD

Ajay Bijli tells Business Standard multiplexes will thrive by Q4 if 100% capacity is restored and third Covid wave doesn't happen

Now showing: Cinema halls, drama theatres reopen in Maharashtra

Cinema halls, drama theatres and auditoriums reopened in Maharashtra after several months on Friday with 50 per cent seating capacity and COVID-19 protocols

PVR Saket, India's first multiplex, reopens after a swanky makeover

The lights are lit for Daniel Craig's fifth and final appearance as James Bond at Delhi's iconic PVR Saket - erstwhile Anupam

Multiplexes appear ready to heal as curtains lift after long interval

According to industry experts, the absence of any new major release from Indian production houses is the biggest challenge multiplex operators face

Cinema halls bell ring again; bank on vaccinated staff, promising content

Multiplex chains are now banking on good content to raise the curtains again to woo the maximum allowed viewers.

Odisha relaxes coronavirus curbs; malls, cinema halls to reopen from Aug 1

The Odisha government announced reopening of shopping malls, parks and cinema halls among several relaxations in all the districts, barring three cities where coronavirus caseload is relatively high

PVR Cinemas to reopen its theatres with 100 per cent vaccinated staff

Multiplex chain PVR Cinemas on Thursday announced that its theatres will be reopening from July 30 with all of its staff fully vaccinated against COVID-19. In a statement, PVR said that its cinemas will resume operations from July 30 in states and union territories that have allowed theatres to reopen. As the country witnesses a steady decline in the number of COVID-19 cases, states like Madhya Pradesh, Rajasthan, Punjab, Haryana, Gujarat, Andhra Pradesh and Telangana have permitted the resumption of operations in cinema halls. In Delhi, theatres were allowed to reopen from Monday at 50 per cent occupancy. To encourage and thank people who got vaccinated during the nationwide vaccination drive, PVR has introduced a 'JAB Offer' for the customers. As part of the scheme, one vaccinated guest can get another ticket free on select content as well as one F&B Combo free with the purchase of another in the first week of reopening. The multiplex chain said it will continue to follow the .

UP allows cinema halls, multiplexes, gyms, stadiums to reopen from today

In wake of decreasing new Covid-19 cases in the state, the Uttar Pradesh Government allowed cinema halls, multiplexes, gyms and stadiums to reopen from today

Crisil says multiplexes to be on losses; may recover only in FY23

Localised lockdowns and night curfews amid the newer wave of Covid-19 is set to extract a toll on multiplexes

Recovery dims for film exhibition biz in April amid fresh Covid-19 curbs

Now, many of them are counting on Eid in mid-May for fresh content to return, including the much-anticipated Salman-Khan-starrer Radhe

PVR, Inox Leisure fall up to 8% as Maharashtra govt shuts cinema halls

The Maharashtra government has announced lockdowns during the weekends and fresh curbs on weekdays.

Multiplex major PVR plans mega release, set to launch 40 screens in FY22

The move comes as film producers line up big releases between April and December