Over-the-top (OTT) platforms have become a product of everyday use for people across various generations today. From school kids, to working professionals, to stay-at-home adults, there is no demographic that OTT platforms have not tapped yet. So much so, that movie theatres have been incurring recurring losses ever since they became mainstream around the COVID-19 lockdowns.
PVR INOX, one of the biggest multiplex chains in the country, has reacted to these losses by shutting down nearly 75 non-performing screens during FY’25. This comes after the announcement that they have already shut down 85 underperforming screens across 24 cinemas previously.
Moreover, their losses have seen a 67% increment, just over the span of one quarter. Reasons like the Lok Sabha elections and the Indian Premier League (IPL) were cited as releases were postponed. Nevertheless, PVR INOX continues to express optimism for the upcoming quarter, owing to a big Hollywood lineup.
However, most Hollywood titles upcoming in the near future are cult classics like ‘Beetlejuice Beetlejuice’, ‘Hellboy: The Crooked Man’, ‘Transformers One’, and ‘Joker: Folie à Deux’. While they may succeed in attracting the fanbase, will it be enough to appease the wider audience?
Although big regional titles like ‘Devara’, ‘Kanguva’, ‘Vettaiyan’, and more are upcoming, will they be the sole driving force that sustains PVR INOX’s blatantly drying business? Or will they rely on more buzzed titles like ‘Chhava’, ‘Pushpa 2’, ‘Moana 2’, ‘Gladiator 2’, ‘Singham Again’, and more that will premiere only in the last months of the year?