Moneycontrol's Sakshi Batra sheds light on the damage that COVID-19 might have caused to multiplex operators
Multiplex operators – PVR and Inox Leisure- are the worst hit by the COVID-19 pandemic. While the footfalls had started to recede from February due to the lean season with no blockbuster movie releases, the health scare and subsequent closure of multiplexes following nationwide lockdown since around mid- March dented their business and financial performance.
The quarter gone by was one of the toughest quarters the film exhibitors has seen in many years. Both the leading players reported a loss despite being operational for almost the entire quarter barring 12-18 business days. And the worst isn’t yet over. The first-quarter earnings of FY21 will be nastiest as multiplexes were shut for the entire quarter.Will the magic of big-screen vanish post-COVID? Will OTT’s push theatres into extinction? Moneycontrol's Sakshi Batra answers these questions and more.