PVR Inox footfall mirroring Bollywood’s declining fortunes

Trade experts say that PVR Inox, which has maximum presence in north and western India, has suffered a setback at the box office in the Hindi-speaking region. Other than Pathan Which has found pan-India audience support, no Hindi film has penetrated deeper into the smaller towns in recent times. Meanwhile, the urban, multiplex crowd has mainly moved to OTT platforms, reducing opportunities for niche or experimental cinema. Furthermore, the increase in average ticket prices (16%) and per capita expenditure (30%) suggests that unreasonably high rates are also hurting the game and alienating spectators.

“It is clear that audiences in North India are not as loyal to cinema halls as cinema halls in the South. Even the craze for big stars or their tentpole releases is far greater in the south, said independent trade analyst Sridhar Pillai. For the Pongal weekend in January, Pillai pointed out.

According to PVR Inox earnings, there has been a sea change in the mix of Hindi and regional content from pre-pandemic FY23. While regional language content constituted 41% of India’s box office pre-Covid, the share increased to 54% in FY23. The share for PVR INOX box office alone has increased from 23% to 33%. On the other hand, Hindi language films lost their share at the Indian box office from 44% to 34% and at the PVR INOX box office from 60% to 51%.

PVR Inox did not respond to queries in this regard. However, in an earnings release, the company acknowledged the “underperformance and volatility” of Hindi films.

“The past year has been the first full year of smooth operation for the exhibition industry. There was a lot of ups and downs in the box office from quarter to quarter. We believe that the two major factors impacting the industry in FY2023 – underperformance of Hindi films and low number of Hollywood releases, both will reduce in FY24. ,

Independent exhibitor Vishek Chauhan said that elite multiplex chains like PVR Inox have failed to establish a presence in the interiors of South India and are primarily seen as an urban phenomenon. “He is also seen as a patron of cinema made for the rich. What has happened post Covid is that content driven cinema with social messaging like the likes of Ayushmann Khurrana or Akshay Kumar is no longer working and has moved to OTT. People want to go to theaters only for large-scale films, as the cost is very high.” The multiplex experience is beyond the reach of the common man, said Chouhan.

Kamal Gianchandani, CEO of PVR Pictures Ltd, had earlier said in an interview that theaters always practice variable pricing depending on the movies, shows and day of the week. A recent report by media consulting firm Ormax stated that only 22 million Indian urban adults had seen three or more Hindi films in a theater in 2022. The equivalent figure was 35 million pre-Covid.

“Over the past decade, the growth in box office business, especially in Hindi, has been more than offset by rising ticket prices. In fact, the habit of watching movies has become more and more elusive. With a wide range of options available to watch movie content, including OTT and linear channels, there is little incentive for an average Indian in Hindi-speaking markets to visit a movie theatre. And once a habit is lost, re-establishing it is a difficult task.”

Updated: May 22, 2023, 11:45 PM IST