Multiplex chain PVR Inox is focusing on growing its fastest growing segment -- food and beverage (F&B) for which it is partnering with brands like food discovery, table reservation and restaurant payment platform EazyDiner.
The multiplex operator will be offering its customers up to 25 percent discount on popcorn, Pepsi and more for payments done via EazyDiner.
Renaud Palliere, Chief TLC & Innovation at PVR INOX, expects customer retention and footfalls to increase due to such initiatives. Industry wide footfalls in theatres have been down by 25-30 percent.
Box office business has currently been erratic with less supply of movies in 2024 and cinemas like PVR Inox have been focusing on growing the F&B business. Amid dwindling footfalls, higher spend per head (SPH) is helping theatres stay afloat.
To grow the F&B business, PVR has already been offering discounts and deal on food and beverages. The company's revenue from F&B sales grew 21 percent in FY24, higher than the sales from movie tickets, which registered a 19 percent growth in the last financial year.
F&B revenue increased to Rs 1,958.4 crore in FY24 from Rs 1,618 crore a year ago while movie ticket revenue stood at Rs 3,279.9 crore versus Rs 2,751.4 crore in FY23.
"F&B revenue was 34 percent of the total revenue of the group in FY24 and this number over the years has grown significantly. Such initiatives (EazyDiner) help in increasing the contribution of F&B sales. We expect the segment's share to grow higher in the coming years," Palliere said.
PVR Inox clocked close to Rs 2,000 crore in F&B in the last fiscal year. The segment is PVR Inox's second-biggest contributor to the company's overall revenue.
In FY23, PVR Inox had emerged as the fifth-largest food company with F&B revenue of Rs 1,525 crore, ahead of Restaurant Brands Asia, which clocked Rs 1,343 crore.
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