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Leading Indian movie theater operators PVR and INOX continue to report occupancy rates below pre-pandemic levels, underscoring the challenges cinema chains face in rebuilding attendance in a post-COVID world.
The recently launched PVR INOX Passport aims to boost weekday footfalls and increase occupancy rates, which have been ranging around 16-17% on weekdays.
Apart from this, the consolidation with the PVR-INOX merger proposal provides an opportunity to regain scale, optimize utilization, and drive growth in the long-term. Investments in premium formats like IMAX and 4DX can also boost footfalls. But plex operators need to undertake targeted strategies to rebuild movie-going habits among lapsed consumers in a rapidly evolving entertainment landscape.
Note: Data before FY 23 is the combined sum of reporting by PVR and INOX.
