International theaters helped India’s largest movie operator PVR Inox boost first-quarter revenue as Hindi films failed to attract audiences to theaters. The struggling Hindi film industry, coupled with the popularity of streaming services, has made it difficult for traditional theaters to attract larger audiences. The company said the June quarter got off to a slow start with limited Hindi releases, but the number of Hollywood movies hit its highest level since the pandemic began. This helped the company’s operating income grow by more than 30% to Rs 1,305 crore.

In May, in addition to “The Fast and the Furious” and “Guardians of the Galaxy”, the box office also accelerated with the release of the controversial “Kerala Story”. Three are from Hollywood, it added. As a merged entity, PVR Inox posted a net loss of Rs 816 million in the second quarter, compared with a net loss of Rs 333 crore in the previous quarter.

According to analysts at Emkay Research, it holds about 35% to 40% market share in the Bollywood film exhibition market. This was due to higher spending on food and beverages and higher costs for movie screenings. India’s largest theater operator, with 1,702 screens, has been counting on Hollywood’s “Oppenheimer” and “Barbie” to fill theaters of late, with its pre-sales totals being the highest of any film outside of the Marvel or Avatar franchises .

Ajay Bijli, Managing Director, PVR Inox said, “It is heartening that non-traditional films like ‘Barbie’ and ‘Oppenheimer’ have achieved huge success in India, which clearly shows that audiences are choosing the big screen for Get a unique cinematic experience.” The company said it was “optimistic” for the rest of the year, with mid-range Hindi films showing improved performance. Shares of PVR Inox rose 2.4% on Tuesday.

© Thomson Reuters 2023


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kerala story

  • release date May 5, 2023
  • language Hindi
  • type drama
  • throw

    Adah Sharma, Yogita Bihani, Sonia Balani, Siddhi Idnani, Pranav Mishra, Saniya Mir, Benedict Garrett, Eleena Koul, Pranay Pachauri, Bhavna Makhija, Chandra Shekhar Dutta, Usha Subramanian Saksena

  • director

    Sudipto Sen

  • Producer

    Vipul Amrutlal Shah

Quick

  • release date May 19, 2023
  • language English
  • type action
  • throw

    Vin Diesel/Michelle Rodriguez/Tyrese Gibson/Chris “Ludacris” Bridges/Jordana Brewster/Natalie Emmanuel/ Cheng Kang/Charlize Theron/Michael Rooker/Jason Momoa/Daniela Melchior/Brie Larson

  • director

    Louis Leterrier

  • Producer

    Neal H. Moritz/ Vin Diesel/ Jeff Kirshenbaum/ Joe Ross/ Justin Lin/ Clayton Townsend/ Samantha Vincent

Guardians of the Galaxy Vol.  3

  • release date May 5, 2023
  • language English
  • type Action, adventure, comedy, science fiction
  • throw

    Chris Pratt/ Zoe Saldana/ Dave Bautista/ Karen Gillan/ Bradley Cooper/ Vin Diesel/ Pom Klementiev/ Sean Gunn/Elizabeth Debicki/Will Poulter

  • director

    James Gunn

  • Producer

    Kevin Feige

Oppenheimer

  • release date July 21, 2023
  • language English
  • type biography, drama
  • throw

    Cillian Murphy, Emily Blunt, Matt Damon, Robert Downey Jr., Florence Pugh, Rami Malek, Benny Safdie, Josh Hartnett, Dane DeHaan, Jack Quaid, Matthew Modine, Dylan Arnold, Ollie Huskiew, Alden Ehrenreich, David Cluho Erz, Michael Angarano, Kenneth Branagh

  • director

    Christopher Nolan

  • Producer

    Christopher Nolan, Emma Thomas, Charles Rowan

Barbie

  • release date July 21, 2023
  • language English
  • type comedy, romance
  • throw

    Margot Robbie, Ryan Gosling, America Ferrera, Simu Liu, Kate McKinnon, Ariana Greenblatt, Alexandra Shipp, Emma Mackie, Will Ferrell, Issa Rae, Michael Cera, Harry Neff, Kingsley Ben-Adir, Rhea Perlman, Nooty Gatwa , Emerald Fennell, Sharon Rooney/Scott Evans/Anna Cruz Kane/Connor Swindell/Ritu Arya/Jamie Demeter inside

  • director

    Greta Gerwig

  • Producer

    Margot Robbie, Tom Ackley, Robbie Brenner, David Heyman

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