PVR Inox signals at OTT fatigue as cinema footfalls rise; Saiyaara, Mahavatar Narsimha pull crowds

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26 Aug, 2025 12:21

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After a year of falling footfalls, multiplex chain PVR Inox saw some bounce back with a 12 percent increase in admissions to 3.4 crore in the first quarter of FY26, attributing the rise to streaming slowdown.

There is an OTT (over the top platform) fatigue, said the company's Chief Executive Officer (CEO), Gautam Dutta.

He said there isn't a lack of content on streaming platforms but there is fatigue as people have seen it all.

"They (OTTs) have now got into a bit of a constraint where stories, cast, everything is playing to a certain plot, whereas cinemas have started to now break the mold, come up with far more fresh stories, coupled with the great experience that the family gets when they come and visit the cinema because this unadulterated cinema experience is something which only cinema can deliver. Sitting at home, there are just far too many distractions which consumers are now coming to terms with."

The multiplex chain on August 6 reported its consolidated net loss narrowed to Rs 54 crore in the quarter ended June 30, 2025. It reported consolidated net loss of Rs 179 crore in the year-ago period.

Looking at the June quarter momentum, Dutta expects to surpass this year the 150 million footfalls recorded in FY24. "The way the pipeline is stacked up, there is absolutely no doubt that we will cross it (150 million/15 crore), we were very confident when we were starting off the year in April, and now after by the end of quarter 1, it's only looking better. July was a bumper month for us, so all indicators are that we would surely cross the FY24 footfall numbers."

July alone recorded the highest admissions in 18 months, driven by films like Saiyaara, Superman, Jurassic Park: Rebirth, Metro In Dino, and Mahavatar Narsimha.

The company's Blockbuster Tuesdays’ initiative which was launched in April, offering tickets starting at Rs 99 brought nearly 1 million new and lapsed transactors back to cinemas, reviving weekday traffic.

Alternate programming initiatives — including re-releases, IPL (Indian Premier League) matches, concerts, and comedy shows collectively drew over 5 lakh admissions during the June quarter of FY26.

On the cinema side, the CEO said that content has become sharper.

"The sheer footfall has increased and consumers are actively seeking fresh content. The directors and producers of new content have got the vibe of the consumer and are creating stories which are kind of connecting with today's audience and their requirements."

There is also a shift from stars to stories.

"If you look at the success of some of the films, you will clearly see that the move from just a multi-star or a big star film to great stories has come into play and that really augments better footfalls in cinemas. Also, across the board, whether it's Bollywood, Hollywood or the regional films, all are eyeing the pan-India market. If you talk to any film creator today, they are not creating a film for a certain boundary. The way they are shooting their stories, the way the production values are, they're trying to cater to a much larger audience. Due to these trends, we are seeing higher footfalls in cinema."

He expects the Q1 momentum to continue throughout FY26 on the back of a strong film lineup, movie ticket and food and beverage promotions along with a control on operating.

Upcoming movies this year include War 2, Jolly LLB 3, Dhurandhar, Thama, Alpha, Border 2, and Love & War among others, while Hollywood will see major global franchises including Avatar: Fire and Ash, The Conjuring: Last Rites, Predator: Badlands, and Project Hail Mary. Regional cinema continues to add scale with high-profile films such as Coolie, Kantara: A Legend Chapter 1, Toxic, Idli Kadai, Nikka Zaildar 4, Akhanda 2, Peddi and Raja Saab.