New Delhi: Multiplex chain PVR Inox Ltd plans to expand its premium and luxury cinema formats to account for nearly 14% of its overall portfolio going forward, PVR Inox Ltd managing director Ajay Bijli said.
The company recently launched its second Maison cinema at the Jio World Plaza in Mumbai. The cinema boasts two Insignia screens, one IMAX screen equipped with laser technology, and three premiere screens. In addition, the property offers a bar and lounge called Gatsby’s and a food and beverage menu curated by celebrity chefs Sarah Todd, Vicky Ratnani, Yutaka Saito, and Mayank Tiwari.
With a total of 1,711 screens, PVR Inox offers premium formats such as IMAX, 4DX, Playhouse, Gold, LUXE, PXL, ONYX, Drive-in and Director’s Cut in India.
Last December, it tied up with French exhibitor CGR Cinemas to bring its high-end Ice Theaters format to the country. It includes side panels that, together with the main screen, create peripheral vision, giving a sense of enhanced immersion with a background contrast of colors and motion.
PVR also tied up with French cinema architecture design firm Ōma Cinema to design new, high-quality theaters for Indian audiences with unique tiered balconies or “pods”, similar to those in opera houses to provide safe, intimate cinema viewing experiences.
“India is a diverse market and we tailor our offerings depending on the demographics of the mall we operate in,” Bijli said in an interview with Mint.
The average ticket price (ATP) across the six screens at the Maison estate will be around ₹700, Bijli said, but the luxury formats will cost ₹1,200. Calling the target group for the property insensitive to price, he added that although it may not attract many people, the idea is to lure the focused group. Investing in a high quality screen is over ₹5 crore, compared to the Rs. 2.5-3 crore spent on regular screen. This must be compensated by premium fare and F&B prices.
Trade experts point out that IMAX and 4DX have been trying to expand their footprint in India for some time, but there are not enough films to keep the screens running even half the year.
Most IMAX and 4DX movies are Hollywood movies that are sometimes released. Cinemas that offer these formats are forced to show them for longer periods or show even regular films. However, pointing to the wider appeal of such premium cinemas, Bijli said they are not exclusively designed to screen big-budget shows.
“These experiences are content-agnostic. It doesn’t matter if the film is mass market or niche. India is a heterogeneous market and our focus is to get people out of their homes, irrespective of income or taste,” Bijli said adding that the company also plans to introduce premium formats in tier two and tier three cities.
PVR Inox is also in the process of rolling out newer versions of its recent Passport plan, which was an attempt to boost capacity utilization on specific days of the week.
The plan, launched in response to criticism about excessive multitext pricing, was a monthly subscription pass for viewers to watch up to 10 movies a month for ₹699 between Monday and Thursday. It excluded premium and luxury cinema formats, was not usable on national holidays and weekday releases, allowed only one film per day without a repeat and required a minimum three-month subscription on a recurring basis.
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Updated: 30 Nov 2023, 16:59 IST
(tagsTo Translate)PVR Inox