PVR-Inox combined pipeline at 2,000 screens; plan to double in seven years

 

Driving multiplex administrators Inox Leisure and PVR, which had reported their consolidation last month, have a joined pipeline of 2,000 screens and expect to twofold this size in next seven years, involving a speculation of Rs 4,000 crore.

The blended element would contribute capex of Rs 2.5 crore per screen as a component of their development, said Inox Leisure Director Siddharth Jain in a Business Update Conference Call with the financial backers in the wake of declaring the consolidation.

On March 27, PVR and INOX Leisure declared a consolidation arrangement to make the biggest multiplex chain in the country with an organization of in excess of 1,500 screens to open the open doors in level III, IV and V urban areas other than the created markets.

The consolidated substance will be named PVR INOX Ltd with the marking of existing screens to go on as PVR and INOX, individually. New films opened post the consolidation will be marked as PVR INOX, the organizations had said on March 27.

PVR to foray into Sri Lanka, open theater in collaboration with Shangri La

International News
Film exhibition firm PVR on Friday announced its foray into the Sri Lankan market with the opening of its first theatre in collaboration with Shangri La Group.
PVR Lanka at One Galle Face Mall is a nine-screen property with premium luxury format besides dedicated auditorium for young ones and family, the company said in a regulatory filing.
"Entering Sri Lanka was part of our business strategy for FY19-20...the socio-cultural similarity between the two nations (India and Sri Lanka) makes the scope for business growth opulently clear," PVR Chairman and Managing Director Ajay Bijli said.
He further said the company's vision has been to introduce new concepts and make regional content more accessible for the audience in Sri Lanka.
"The Indian film industry has grown exponentially in the last few years and has a global fan base that we aim to cater to through innovation and expansion," Bijli added.
PVR said its first property in Sri Lanka is spread across 38,454 square feet with a seating capacity of 1,176.

The company has 809 screens at 171 properties in 70 cities in India....READ MORE

Are Indians going to the movies to escape slowdown? PVR's CEO thinks so

International News

Cinemas are seeing brisk business even as India’s economy slows to a six-year low and unemployment swells, according to PVR Ltd., the nation’s largest operator of multi-screen theatres.
Ever since the box-office hit Kabir Singh released in June, even films with small budgets or less-recognizable actors are drawing the crowds, Kamal Gianchandani, chief executive officer at PVR Pictures, said in an interview this month. Results for July-September will “definitely surprise a lot of people,” he said, declining to elaborate.
“I think the slowdown is helping the cinema business,” Gianchandani said. “There is negativity around and people want to escape it.”
If Gianchandani’s prediction is correct, PVR would be defying a slump that has dented demand for almost everything from 7-cent cookies to cars. He joins the likes of Bollywood megastar Shahrukh Khan, who has in the past compared movies to lipstick, saying that both are immune to economic turmoil.
Seventeen of 26 analysts surveyed by Bloomberg have buy ratings on PVR stock, with eight holds and one sell. Similar numbers can be seen for smaller Indian rival Inox Leisure Ltd. PVR will probably outperform Inox on spending per head, analysts led by Karan Taurani at Elara Securities Pvt. said October 4.
Sensing competition from the likes of Netflix Inc. and Reliance Industries Ltd.’s Jio service -- which allow people to watch movies from the comfort of their home -- PVR has partnered with Canadian motion technology player D-Box Technologies Inc. to design seats that sway and jerk in sync with the action on screen, offering a more immersive experience.

 “Our strategy is to ensure we stay relevant in this age where every other day a new streaming service is being launched,” Gianchandani said. “Fortunately, customers are receptive.”....Read More

Multiplexes turn to technology for giving viewers differentiated experience

Company News

Cinema exhibition chain PVR has tied up with D-Box Technologies, a company specialising in creating immersive motion entertainment, to launch India’s first D-Box motion seats in cinema halls.
In the first phase, around 400 D-Box motion seats will be installed in nine auditoriums, across the Delhi region and Mumbai.

At an estimated cost of Rs 5 lakh a seat, PVR’s investment will amount to Rs 20 crore. “We are using technology to give our viewers a differentiated experience while at the movies. Our association with D-Box is one such initiative, as is our tie-up with ScreenX, which allows parts of films to be projected on to three walls of the auditorium. ScreenX makes for more impactful viewing where the visual requires scale — like a concert scene, a battle scene or a scene that shows the view from the top of a mountain, for example,” says Gautam Dutta, chief executive at PVR, which has initially commissioned 10 such screens.

Inox has also announced a slew of technology tie-ups to provide differentiated movie viewing experiences across its properties. It announced the launch of its MX4D screens, along with the ScreenX feature, at multiple properties.

Motion seat technology uses special codes, embedded in the digital print of a film being screened at a movie hall, to create corresponding motion in the viewer’s seat. Any scene with a visual impact can be translated into seat movement with this technology, helping a more ‘imm­ersive’ movie viewing experience.


 While motion seat entertainment is part of the 4DX movie-going experience, D-Box’s technology is more grounded -- it is restricted to motion of the seat and does not include effects like smoke, spray, wind, etc...Read More