PVR, Inox, Cinepolis has many takes; lost almost ₹4,000 crore worth box office collection in 2020

Eight of 10 cinemagoers might crowd movie theaters within
weeks of their reviving, agreeing to a survey of 1,000 individuals over 58
cities. Nearly 90% of respondents told surveyor Ormax Media that they would
choose theaters based on modern security measures, whereas 82% favoured the
ones found in a secure zone. This might bring cheer to products who are cagey
approximately movies propelling on gushing administrations such as Amazon Prime
and Netflix. Half the respondents would cut back on food, a money-spinner for multiplexes.
As per industry estimates, cinema theaters are anticipated to lose almost
₹4,000 crore worth box office collection in 2020.

Senthil Kumar, Co-founder and Board Member at Qube Cinema stated, “Very encouraging to see from the Ormax Media “Back to the Theatre” audience survey that 82% miss theatres a lot and 16% more miss theatres somewhat! That’s a resounding endorsement of the theatrical experience indeed and quite contrary to what some pundits believe because of our current dependence on OTT. I would personally love to watch Tenet in theatres and I hope the magic happens this July!”

Mudit Nahar, Data Manager, PGDM student at WeSchool Bengaluru said, “I would choose to watch a 3D movie such as avenger to watch on 70mm screen and other normal movies on ott platform according to my time.  So movies such as Ghoomketu, I would prefer to watch it at my home.”

Nishi Agrawal, Marketing Nerd & Food Blogger said, “Ott(over the top) is streaming media services offered directly for consumption via internet. Whereas theaters we all know are places to watch movies. From the past few days there have been constant fights amongst these two platforms and due to which the film industry is in havoc. Some movies like Ghoomketu, Gulabositabo, etc have sold their rights to the ott platforms like Amazon and Zee5 and are going to get released online soon. Whereas PVR and INOX have tried attempts to keep the cinema experience on. PVR in fact has notified that it won’t release the movies already released on ott platforms. Well now as a consumer we have pros and cons of both.”

Also read: https://newswithchai.com/bollywood-shatters-a-grey-year-for-multiplexes/16451/

In an interaction with ETCFOs’ Vartika Rawat, Inox Chief Financial
Officer Kailash Gupta feared cutbacks or compensation cuts next month ought to
the circumstance turns grave “We are not even talking about profitability, but
the concern is on liquidity crunch. As of now, we do not have liquidity issues
and we have aligned a few credit lines with banks to sustain for three to four
months,” he had said.

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