NEW DELHI: Multiplexes, one of many hardest-hit industries by the pandemic, are progressively choosing up steam with occupancy fee again to round 20%.
A weekly occupancy fee of 30-35% has historically been thought of “superb” by these multiplex operators, mentioned a senior govt at one of many largest chains in India. “There is a powerful pent-up demand amongst customers to observe movies on the large display owing to the hole when customers had been away from multiplexes,” mentioned Gautam Dutta, CEO at PVR.
The success of a number of the lately launched movies in theatres after multiplexes began screening movies in November is being dangled as a teaser to what lies forward for the trade.
The present roadblock is the 50% occupancy restriction in 4 states, together with two main markets — Mumbai and Rajasthan.
“Before ‘Master’, occupancy charges had been round 5-10% and that was solely attainable because of low-budget regional movies that agreed to open with us,” mentioned a senior govt at a big multiplex chain. “Master was the primary signal that film goers are keen to return again to theatres.”
Going forward, high multiplex chains, similar to PVR and Inox, are betting on contemporary content material to lure footfalls. Around 50 regional movies, 12 Hollywood movies, together with 50 Bollywood releases are set to hit theatres this yr, in response to a roster of one of many multiplex chains that TOI has reviewed. “Every month, a Rs 50-100 crore film is slated to be launched,” mentioned the chief. This yr will see the utmost variety of big-budgeted, multi-language movies releasing at cinemas, mentioned PVR’s Dutta.
Multiplex chain operators have been affected by the dearth of contemporary content material and footfalls. While Inox reported losses of Rs 102 crore for the quarter ended December 2020, PVR reported losses of Rs 49 crore. During the identical interval in 2019, each corporations had posted earnings of Rs 35 crore and Rs 36 crore, respectively.