Multiplex PVR INOX operator has rolled out its new offering ‘Cinema Lovers Weekend’. The latest initiative which will run between August 9-11, 2024, has been launched to up footfalls during the weekend. While tickets on Friday will be priced at Rs 99 onwards, for the weekend, 10 -11 August 2024 is Rs 199 onwards. Meanwhile, tickets for IMAX, 4DX, MX4D, and SCREENX for Friday, 9th August 2024 will be priced at Rs 199 onwards and for the weekend Rs 299 onwards. Additionally, the GOLD, Luxe, Director’s Cut, and INSIGNIA tickets will cost Rs 299 on Friday and Rs 499 onwards for the weekend. This is also an attempt by the multiplex operator to up the footfall which reduced 10.4% to 30.4 million in Q1, FY25 from 33.9 million during the same period in the previous year. “We have been running the initiative for some quarters on Friday and based on feedback from family-oriented users, we have extended it to the weekend. Whether we will continue with this will depend on the performance,” Kamal Gianchandani, chief business planning and strategy, PVR INOX Limited and CEO, PVR INOX Pictures Limited
To be sure, the multiplex operator saw a drop in footfalls by 10.4% to 30.4 million in Q1FY25 from 33.9 million in Q1FY24. The average ticket price declined 4.7% to Rs 234 in Q1FY25 from Rs 246 during the same period in the previous year. The multiplex operator in its filings stated that in Q1FY25 there was a 13% YoY (year-on-year) drop in the number of films released. “Unlike the first quarters which witnessed General Elections, cricket tournaments including the Indian Premier League (IPL) and T20 World Cup, the second and the third quarters are clean, with a good number of films slated to release, so we should expect to good returns,” he said.
According to the multiplex operator, the highlight of ‘Cinema Lovers Weekend’ is that audiences can watch all the popular movies at these reduced ticket prices. From Hollywood blockbusters like Deadpool & Wolverine, Borderlands, Born Pink, and It Ends With Us to Bollywood superhits like Ulajh, Kalki, Bad News, Kill, Auron Mein Kahan Dum Tha, Ghuspaithiya, and Aliya Basu Gayab Hai, among others. Cinema Lovers weekend will also showcase a selection of regional movies, celebrating the rich diversity of Indian cinema. Government-regulated pricing will be implemented in states such as Andhra Pradesh, Telangana, Pondicherry, and Tamil Nadu. Moreover, a rise in footfall positively impacts the food and beverage business. The F&B Spend per Head (SPH) stood at Rs 134 in Q1FY25. “Ours is an admission business and with the greater number of consumers, the F&B business definitely benefits,” he noted.