DelhiDesk PVR Inox, the newly-merged cinema chain, has reported a 16% drop in ticket sales and a 21% decline in occupancy in the last financial year, compared to pre-pandemic figures. Trade experts attribute the decline to a lack of Hindi-language films penetrating smaller towns, while the urban, multiplex crowd has shifted to OTT platforms. Increases in average ticket prices and spends per head are also alienating audiences. The trend has led to a shift in the mix between Hindi and regional content, with regional language content making up 54% of India’s box office in FY23, up from 41% pre-covid. In contrast, Hindi language films’ share of the box office has fallen from 44% to 34%.
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Here is the news bullets sorted by DelhiBreakings.com team.
👉 16% drop in ticket sales and 21% dip in occupancy for PVR Inox in FY23 compared to pre-covid year FY20
👉 Failing box office in Hindi-speaking heartland and urban audience moving to OTT platforms affecting PVR Inox’s earnings
👉 Increase in average ticket prices (16%) and spends per head (30%) also alienating audiences
👉 Tamil stars’ movies like Varisu and Thunivu leading the box office; regional language content making up 54% of India’s box office and Hindi language films losing their share
👉 PVR Inox admitting to underperformance and volatility of Hindi movies; expecting ease out in FY24
👉 Elite multiplex chains like PVR Inox seen as urban phenomenon and patronizing cinema made for the rich
👉 Cinema-going habit becoming elusive for average Indian in Hindi-speaking markets with availability of alternatives like OTT and linear channels
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