New Delhi, Oct 12 (PTI) Multiplex operator PVR, which has crossed 600 screens, is looking at a possibility to form a separate brand to tap tier-III markets as part of its expansion plans, a top company official said.
The operator plans to cater to moviegoers in every price category and expand the presence of brand PVR in every parts of the country.
On being asked that whether PVR is considering to have a sub-brand for smaller towns, PVR Chairman and Managing Director Ajay Bijli told PTI: “It could be but we are still thinking that what the brand should be and the first thing is to get the model right.”
Besides, the company does not see its business of exhibition of the premier movies to be impacted by online video-on-demand players as Netflix and Amazon Prime Video.
On competition from players as Netflix, Bijli said there is a difference on the content offered by the online video-on-demand operators.
“They play the old content and their own content and we are playing the content which is produced by various studios and producers,” he said adding Netflix is a home experience and “we are out of home experience”.
“Man as a social person wants to go out and interact and I think from that point of view there is space for both,” Bijli added.
PVR, which has completed 20 years, is also innovating itself with various formats and technologies which include P [XL], Imax and 4DX.
“Currently, we are more or less same but within that we are always innovating. We are coming with newer formats, using new technologies,” he added.
On being asked where he sees the company over the next five years, Bijli said: “We want to see the brand PVR in every catchment in the country at every price point where movies could be consumed — smaller towns, bigger towns… .” PVR is also expecting the government to bring the cinema tickets in the lower tax slab under GST, from the highest tax slab of 28 per cent.
“We are requesting and hoping that in the first drive, they want to implement and they have implemented it and now all the representations which we are making they would bring it down.
PVR is aiming to have an annual foot fall of 100 million in next two years and to have around 1,000 screens by 2022.
“It should be built in a cost-effective manner. I think that the first and the foremost is that it should be robust model which we can replicate everywhere.” In FY2016-17, PVR had a revenue of Rs 2,002.01 crore. It currently operates 600 screens in 51 cities.
The Delhi-based operator has sensed a potential in around 250 cities where it can do business of film exhibition, said Kamal Gianchandani, CEO – PVR Pictures and chief-of-strategy PVR.
“We are looking at potential in 250 cities of India and till now we are in 50 cities,” Gianchandani said adding that the company has plenty of space to grow.
This is published unedited from the PTI feed.