Multiplex operator PVR, which is betting big on the South market, launched a five-screen multiplex in OMR Bengaluru at Orion Uptown Mall on March 6.
With this, PVR’s screen total in Karnataka has reached 103 across 15 properties and in the South market, PVR has as many as 286 screens across 46 properties.
The new property is equipped with the BARCO RGB+ Laser projectors — a technology which enhances cinematic experience.
The new property in Bengaluru has a seating capacity of 876 audiences.
Talking to Moneycontrol about the Bengaluru market, Pramod Arora, Chief Growth and Strategy Officer, PVR Ltd, said they are upbeat about the city as among all the southern markets, Bengaluru for them is the biggest, followed by Chennai which he thinks is a relative first.
This is why in Bengaluru, in the next two years, PVR plans to launch 80 more screens.
The focus on Bengaluru and the South market seems to be a step in the right direction as PVR South contributes as much as 40 percent in terms of revenue.
Arora shared an interesting trivia. He said the Whitefield area in Bengaluru is where PVR gets highest number of expats coming in and this is highest in India.
In terms of investment for the new property, Arora said for an exhibitor, on an average, it takes as much as Rs 3 to 3.3 crore to launch a screen.
Along with new screen launches down South, PVR had made a strategic call in 2018 when the multiplex firm joined hands with SPI Cinemas, which is considered as south India’s largest premium cinema exhibitor.
And now, SPI contributes in the range of 15-20 percent to PVR’s revenues.
After the new multiplex launch in Bengaluru, PVR now stands at a total of 841 screens at 176 properties in 71 cities.
When asked about the impact of coronavirus on the exhibition business, he said South is the least affected currently in terms of footfall in theatres.
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