Some multiples pioneers have changed the face of Indian cinema business beyond recognition
IN June 1997, PVR, the first multiplex in this country, opened its doors to cinema goers in Saket, a locality in the Capital. Nine years later, multiplexes have completely transformed the face of the cinema business in urban India. Not only have they pulled back the masses to the theatre, multiplexes have also set new benchmarks for comfort, design, hygiene and visual appeal.
Take a look at data which shows the kind of impact these new multiplex chains have had on the entertainment industry's economics.
According to a Yes Bank report, multiplex chains today contribute as much as 70% of revenues of most big ticket movies.
Another report by PwC and Ficci says that the domestic exhibition industry is expected to account for as much as 78% of the total entertainment and media industry's revenues in the next five years. And much of that growth will be driven by multiplex chains like PVR, Fame, Inox, Adlabs, Fun Republic and a host of regional players. That's just how important multiplexes will be in the coming years.
That's exactly why ET has decided to launch a weekly Multiplex Tracker. Based on data supplied by INOX, PVR, Cinemax, Fun Republic and Satyam Cineplexes (which are having nearly 200 screens across India's cities) to begin with, the Economic Times Intelligence Group (ETIG) has worked out a set of key metrics that's meant to give the fledgling industry a good indicator of what's working - and what's not - in the box office. For marketers looking to connect with the most happening trends, this data could also provide a glimpse of the likes and dislikes of the discerning luxury entertainment consumer - one who is willing to pay top dollar.