Mumbai, India — August 21, 2024 — PVR Inox, India’s largest film exhibition company, has announced its ambitious plan to add 60 new cinema screens across the country by the end of 2024. This move is part of the company's broader strategy to expand its footprint in both metropolitan and tier-2 cities, catering to the growing demand for premium cinema experiences.
The new screens will be spread across several states, with a focus on regions where the company has identified significant potential for growth. PVR Inox has been aggressively expanding its portfolio in recent years, and this latest development is expected to further solidify its position as the market leader in India’s film exhibition industry.
Strategic Expansion Amidst Industry Evolution
The decision to roll out 60 new screens comes at a time when the film exhibition industry is undergoing significant changes. The rise of digital streaming platforms has posed challenges to traditional cinema chains, but PVR Inox has managed to stay ahead by continuously innovating and offering enhanced viewing experiences. The company’s expansion plan is seen as a testament to its confidence in the enduring appeal of the big screen.
Gautam Dutta, CEO of PVR Inox, commented on the expansion, stating, “Our aim is to bring the best of cinema to every corner of India. Despite the challenges posed by the digital era, we believe that the cinematic experience is irreplaceable. These 60 new screens are a step towards reaching more audiences and providing them with world-class movie experiences.”
Focus on Premium Offerings
PVR Inox's new screens will feature the latest in cinema technology, including advanced sound systems, 4K projection, and luxury seating options. The company is also set to introduce more of its premium formats, such as IMAX, 4DX, and P[XL] (PVR’s luxury format), in select locations.
“We are committed to enhancing the movie-going experience,” Dutta added. “By integrating the latest technology and premium services, we aim to create a destination where audiences can fully immerse themselves in the magic of movies.”
A Competitive Market
PVR Inox's expansion comes amid stiff competition in the Indian market. Rival chains like Cinepolis and Miraj Cinemas have also been expanding their presence. However, PVR Inox remains the leader with over 1,650 screens across 110 cities, and this new addition will only widen the gap.
Industry experts view this expansion as a bold move that could set the stage for further consolidation in the industry. The company’s strategy of focusing on both large cities and emerging markets allows it to tap into diverse consumer segments, ensuring sustained growth in the years to come.
Looking Ahead
With the addition of these 60 new screens, PVR Inox is poised to continue its dominance in the Indian cinema industry. The company's focus on innovation, coupled with its strategic expansion, indicates a strong commitment to the future of theatrical film viewing in India.
As the film industry continues to evolve, PVR Inox’s expansion serves as a reminder of the enduring allure of the big screen and the company’s dedication to keeping the magic of cinema alive for audiences across the nation.
About PVR Inox
PVR Inox Ltd is India's largest film exhibition company, formed by the merger of PVR Cinemas and INOX Leisure in 2023. With a combined legacy of decades in the film industry, the company operates the most extensive network of multiplexes across India, offering premium movie experiences to millions of viewers every year.
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