India’s largest cinema exhibition chain PVR Cinemas has announced the launch of its first three screen multiplex at Cine Mall, Kota. With this launch, PVR’s screen count in Rajasthan stands at 7 screens in 2 properties, augmenting its presence in the Northern Region of the country to 197 screens in 46 properties.
Spread across an area of 30,000 sq ft with a seating capacity of 828 seats, the new multiplex will be city’s first cinema with recliners and next generation 3D technology. It also offers digital movie experience with 7.1 Dolby Digital surround sound and 2K projection systems.
With this opening, PVR continues its growth momentum in FY18 with 587 screens at 128 properties in 51 cities.
The Indian film industry is projected to grow at Rs 15,500 crore this year as against Rs 14,230 crore in 2016. A major source of revenue for this industry comes through theatres in the country, with a 7 percent share in the total revenues of the industry, says a FICCI-Frames report.
This segment is expected to grow at a CAGR of 5.6 percent over the next 5 years, the report added.
India’s challenge of low-screen density (8 screens/million) is an opportunity which the multiplexes are capitalising on.
According to the report, the multiplexes together added approximately 200 screens cross India in 2016. Industry discussions indicate that there will be additions of 150-200 screens per year.
The growth could be achieved by a combination of a few steps: addition of multiple screens; conversion of single screens into multiplexes and increase in average ticket prices.
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