Consumer expenditure in the leisure sector in China has seen close to 10% y-o-y growth since 2011, more than twice the growth rates seen in other major markets, according to a 2017 report by OC&C Strategy Consultants.
Cinema theatre chains are adding more seats each year and they’re not regretting it. Viewers seem more than happy to catch a film in these tough times, savouring what they feel is affordable entertainment. Not surprising then that Bollywood’s revenues are understood to have nudged closer to Rs 4,000 crore in 2019 with just 170 releases. That’s way more than the pickings of some Rs 3,300 crore in 2018 from 180 releases.
The total number of seats with PVR and Inox jumped 33% in the year to March 2019. But thanks to a string of high quality releases – Kabir Singh, Mission Mangal, Super 30, Chhichhore, War, Good News and Mardaani 2 – theatres were more full than they have been before. At Inox for instance, occupancies increased to 28% from 26% in FY18 while at PVR they went up a good five percentage points at 36.20%.RELATED NEWS
The Inox Leisure management told FE footfalls had gone up to 3.63 crore in the six months to September, 2019, about 70 lakh more than in H1FY19. “With an audience of 1.9 crore in the three months to September 2019, we created history with the highest ever footfalls in a single quarter,” Alok Tandon, CEO at Inox, says. Together, PVR and Inox control the bulk of theatre capacity in the country and had just over three lakh seats at the end of March 2019…