Multiplex operator PVR Inox will be launching a subscription plan to drive footfalls and to attract new set of audience to theatres.
The company plans to launch a Rs 699 monthly plan, offering 10 movies at Rs 70 each for weekdays, said a company official.
This is said to be the first ever in-theater movie subscription offering in the country.
Some terms and conditions that comes with the subscription plan include validity only for weekdays. The plan not is available in southern part of India and in premium screen formats like Insignia, Imax, among others.
Also read: Shah Rukh Khan delivers a blockbuster September quarter for PVR Inox
The plan allows to book one ticket for a single day. Also, subscribers will have to carry a government id every time they avail a ticket through the subscription.
The company is looking to drive footfalls and also to add newer audience groups. Pandemic led to drop in footfalls in theatres which is still down 20 percent versus pre-Covid level. Theatres are also looking to get back the older age group back to cinemas in large numbers.
The official said that this will give a chance to the company to attract housewives and senior citizens to cinemas.
There has been a fall in the number of consumers in the 31 plus age group with the median age for cinema-going audiences declining from 27.5 pre-Covid to 24.1, according to an analysis by Ormax, a media consulting group.
Also read: PVR Inox expects blockbuster Q2 after record footfalls, collections in August
It is estimated that the 31-40 age group and the 41-plus age group shrunk by 31 percent and 39 percent, respectively.
PVR Inox has also witnessed a drop in the frequency of people aged over 35-40 years going to theatres, Ajay Bijli, managing director, PVR INOX Ltd had said recently in an interview. He said that this is due to the pandemic impact, which led to a shorter window of theatrical releases coming on streaming platforms.
The official also added that for any cinema, the challenge has always been to fill up theatres during weekdays and programs like these will help in driving footfalls from Monday to Thursday.
The company also expects that the subscription plan will let audience explore different genres.
Also read: PVR Inox records highest single-day footfall as Jailer, Gadar 2, OMG 2 raise Rs 39.5 cr
Analysts estimate PVR Inox to register record footfalls in the September quarter.
Films including Jawaan, Gadar 2, Rocky Aur Rani Kii Prem Kahaani, Oppenheimer, MI (Mission Impossible) and Jailer performed well, which will lead to footfalls of 4.7 crore in Q2.
There was some recovery in footfalls in the June quarter when the company had recorded an increase in footfalls to 3.39 crore from 3.05 crore in Q4 FY23. However, it was down from 4.34 crore a year earlier.
Also read: PVR Inox sees box office stability for Bollywood; bets big on SRK's Jawan and other releases
Overall occupancy is estimated to be 32 percent in Q2 and 27 percent in first half of FY24, as it will move toward pre-COVID of 33 percent for the first time in the post-COVID era.
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