The rampant advent of technology can undoubtedly be felt in all sectors across the country. Moreover, the negative change brought about by this technology can be blatantly observed in the media and entertainment industry. Especially following the rapid emergence of OTT platforms.
The competition between theatres and OTT platforms has become ever-looming. While subscriptions to these platforms are expected to grow at the rate of 5% annually, movie theatres have been slowly shutting down parts of their operations. However, not all hope is lost for cinemas. While they have recorded net losses, the theatre-going population has witnessed a surge post the COVID-19 lockdowns.
Moreover, incentives like cinema lovers’ day, movie subscription programmes, film festivals, screening of sporting events, unlimited refillable snacks, have boosted the numbers of cinema-goers. The industry, like any other, has also benefited greatly from continuous diversification.
PVR INOX has tapped the South Indian film industry, especially, to increase their operations to bridge the mismatch between an ever-increasing demand from users in the area and only a few multiplexes. A potential way forward is to tailor the cinema screens in an area more diligently, keeping in mind the demographic and wants of the viewers.
With high-end cinemas also evolving into ‘experience zones’ designed for the audience, the films and night outs with friends and family, become an integrated experience!