Sunday, March 17, 2013

BUSINESS SPECIAL ….THE NEXT FIVE YEARS FOR BUSINESS (8) CINEMA



THE NEXT FIVE YEARS FOR BUSINESS 
(8) CINEMA
No Business Like Show Business

Malls will propel growth in theatres
If you have a kitchen at home, why are restaurants thriving. Man, by his very nature, is social and engaging. Despite quantum leaps in technology, man will always crave the outdoors.
No amount of comfort around the home theatre can bind him indoors. I'm an optimist and truly feel that the Indian moviegoer's appetite to watch films in theatres will grow with the growth in modern retail. Newer brands will propel Indian consumers to go out and enjoy themselves.
When people want to entertain themselves, undoubtedly, movies continue to be their top choice. People just love watching films. This trend is bound to continue and with FDI opening up the retail sector, new malls will come up and call for a fresh wave of consumerism.
    It's been 23 years I'm in the black box business and I've only seen improvements. I've seen improvements in screen size, projection quality, sound and even the 3D format, which is now here to stay. On one hand, there is the consumer/ moviegoer whose appetite is increasing. On the other, content providers, including producers, technology providers and exhibitors like us, are out there to provide a better experience to such moviegoers. Basically, the moviegoer is looking at avenues for de-stressing. And movies must fulfill the promise of the genres they represent, which in India, they are increasingly doing. I remain bullish for the next five years.
    With the PVR-Cinemax combine, we will sell 56 million tickets (admissions) this financial year and forecast to close the next fiscal with 72 million admissions. In 2014-15, our projection is we'll have clocked 100 million admissions. That perhaps explains my reticence to drill offshore - why go out when India offers such great opportunities?
By AJAY BIJLI who pioneered the concept of multiplex cinemas in India with PVR Saket in 1997 CDET130104

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