In a cinematic turnaround that has taken the industry by surprise, PVR and Inox multiplex chains are gearing up for an exceptional September quarter following a spectacular performance in August. The companies have not only witnessed record-breaking box office collections but have also reported the highest-ever monthly subscription figures. Now we will find out the facts behind this banging comeback in Bollywood.
August: A Box Office Bonanza
August turned out to be a game-changer for PVR and Inox, with blockbusters like “Sunny Deol-star of Gadar 2,” “Akshay Kumar’s OMG 2,” “Rajinikanth’s Jailor,” and “Dreamgirls 2” drawing massive crowds back into theatres. The silver screen magic translated into substantial profits, with Jailor alone raking in an impressive ₹67 crores in gross box office collections (GBOC) and attracting 27 lakh footfalls across India. The total GBOC for August soared beyond ₹370 crores, setting the stage for a triumphant September.
PVR and Inox are poised for a sequel of success, with the highly anticipated releases of Shah Rukh Khan’s “Jawaan” and Prabhas’s “Salaar” in September. “Salaar” is expected to create history with the biggest opening ever at the Indian box office, ushering in a strong festive season. Even smaller films like “Ghoomar” are reaping the rewards of the renewed enthusiasm generated by movies like “Gadar 2” and “OMG 2.”
The statistics speak volumes, with a record-breaking 1.9 crore guests and a staggering GBOC of ₹532 crores in August. Notably, August 15th saw a phenomenal footfall of 13 lakh people, accompanied by a GBOC of ₹41.4 crores, surpassing all previous single-day records. The momentum continued on August 13th, with 12.8 lakh patrons contributing to a GBOC of ₹39.5 crores.
Reviving Bollywood and Beyond
As the Hindi box office stages a remarkable comeback, it’s worth noting that the industry is currently operating at approximately 20% below pre-Covid levels will impact PVR and Inox. Although there’s a new sense of optimism in Bollywood, driven by innovative storytelling and content that resonates with audiences, movies like ‘Rocky Aur Rani Ki Dulhania,’ featuring Alia Bhatt and Ranveer Singh, have rekindled hope and creativity in the industry, affirming that Bollywood is here to stay.”
“PVR and Inox aren’t just basking in their newfound success; they’re also laser-focused on expanding and bringing fresh innovations to the table.”. The introduction of the ICE screen format, featuring LED panels on each side of the auditorium, has been a hit among moviegoers. Following its successful launch in a 12-screen “Superplex” in Bengaluru, plans are in place for another ICE screen format in the same city. This innovative technology’s straightforward goal is to increase the suspense and immersion levels of your film trip. It will improve your overall movie-watching experience.
The South Indian market remains a priority for PVR and Inox, with expectations of increased box-office shares in regions like Bengaluru and Tamil Nadu. Despite the success of multiplexes, single screens still flourish in areas like Tamil Nadu and Hyderabad. Today’s share price of PVR Inox is 1796.90
Expanding the Premium Portfolio
With more options to take your movie going to the next level, PVR and Inox are preparing to expand their portfolio of premium screens.Two more ICE-format screens are in the pipeline, with the fourth scheduled for Mumbai and the fifth for Bengaluru. Customer feedback will drive further expansion, with the goal of increasing the share of premium formats to 15–18% of the total screens.
Movies like “Pathan,” “Bhola,” and “Rocky Aur Rani Ki Prem Kahani” have already graced the ICE format, and upcoming releases like “Jawaan,” “Salaar,” “Tiger 3,” and “Dankee” are set to follow suit, promising an immersive and unforgettable cinematic experience.
As we wave farewell to August, we excitedly anticipate the unveiling of an exciting September quarter loaded with cinematic miracles since PVR and Inox have created a truly incredible comeback story. As Bollywood reinvents itself and multiplexes expand their offerings, the Indian cinema experience is poised to reach new heights, and moviegoers couldn’t be more thrilled!