India’s anime fan base is dead serious, and both Shinkai and his India distributor PVR Pictures know
Super high-quality production, a conscious shift towards making films for a pan-Indian audience and other factors behind the commercial success of recent South films in north India.
PVR Pictures had a topline of Rs 150 crore in FY 2019-20, but was impacted in the current fiscal due to pandemic-related disruptions.
The second day of reopening has been low key despite a new release. PVR's Hollywood offering My Spy has not drawn in the crowds.
A set of SOPs drawn up by the Multiplex Association of India in collaboration with its members was submitted to various Central ministries as well as Prime Minister's Office and Niti Aayog earlier this month, said industry leaders INOX, PVR Pictures and Cinepolis India.
“Cinema business has been consistently growing in US, which is the most saturated market in the world when it comes to such online video platforms. In the US, they are not building new cinemas. Instead they are reducing cinemas but cinema footfalls business are still going up,†Kamal Gianchandani, CEO PVR Pictures says.
Speaking to CNBC-TV18, CEO - PVR Pictures and Chief of Strategy, PVR Ltd Kamal Gianchandani said that the percentage of online sales has grown significantly since November while cash sales have fallen.
Footfalls in Q3 may jump 7 percent (YoY) at 1.71 crore versus 1.6 crore, led by new screen additions. Ad revenue is likely to rise 15 percent (YoY) at Rs 62 crore against Rs 53.8 crore. Spend per head is seen 10 percent (YoY) at Rs 74 versus Rs 67.
In an interview to CNBC-TV18, Kamal Gianchandani, President of PVR Pictures spoke about sales exceeding company‘s expectations backed by pre-festivities and Diwali cheer.
PVR Pictures has finally got the nod to demerge the production business. Speaking to CNBC-TV18, Nitin Sood, chief financial officer of PVR says that post the demerger, PVR, the main entity shall handle the production business entirely. PVR Pictures will turn into a wholly-owned company that will focus only on the distribution business, he says.
PVR Limited acquired remaining 40% stake from JPMorgan and India Advantage Fund of PVR Pictures. In an interview with CNBC-TV18, Nitin Sood, CFO of PVR said that they paid a total of Rs 60 crore to complete the buyout. Sood explained that the company’s main focus is to roll out the exhibition projects across the country.