PVR INOX Forecasts Movie-Theater Revival Amid OTT Fatigue

PVR INOX is optimistic about returning to profitability by leveraging new movie releases and addressing OTT fatigue. The cinema chain saw a 12% growth in footfalls in its first quarter despite a subdued April. The company recorded a loss reduction, fueled by recent hits and upcoming releases.

PVR INOX is making strategic moves to capitalize on a strong first quarter and renewed enthusiasm for cinema, despite the growing prevalence of OTT platforms, according to Managing Director Ajay Bijli. The cinema chain saw a promising 12% year-on-year increase in visitor numbers, reaching 3.4 crore in just the first quarter of this fiscal.

'We are thrilled to see audiences returning to theaters. Indian consumers still value the big screen experience as their primary entertainment choice,' Bijli remarked. He stated that viewing films in cinemas will continue to hold its place alongside other media formats.

Despite not providing exact profitability timelines, Bijli expressed confidence in the company's forward momentum. With big releases like 'Coolie' and 'War 2' scheduled for mid-August, PVR INOX is poised to benefit from the upcoming holiday weekend, suggesting potential improvements in occupancy and revenue.

(With inputs from agencies.)