Watch out for low-cost cinema halls from PVR
PVR Cinemas has launched its low-frills digital cinema chain - PVR Talkies. The company has also announced its foray into content production for the big screen through its distribution arm, PVR Pictures.
By TNN |
NEW DELHI: PVR Cinemas has launched its low-frills digital cinema chain — PVR Talkies. The company has also announced its foray into content production for the big screen through its distribution arm, PVR Pictures.
This will involve an investment of about Rs 20 crore to co-produce movies with Aamir Khan Productions (AKPL). PVR Talkies, with tickets priced in the range Rs 40-60, will be PVR’s low-frill digital cinema chain aimed at increasing its reach to cover smaller towns.
“In a bid to increase our screen penetration in the tier II and III cities we have started a brand new chain of cinemas. We expect to open 200 low-frill cinema screens in the next two years,” said Ajay Bijli, CMD, PVR. The company will initially launch two low-cost cinemas at Latur and Aurangabad. It is planning to open these cinemas in more than 70 cities across 13 states in the first phase.
“These locations will have lower real estate costs, so we will manage to price our tickets much lower. However, there will be no compromise with the cinema experience,” Mr Bijli said.
These cinemas will have digitally enabled projection technology. In the future the company will either establish its own digital solution or tie up with a third party for digital technology. PVR Pictures has also entered into an agreement with AKPL for two movies and will invest Rs 20 crore for co-producing these movies.
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“We will have the Indian rights for distribution of these movies,” Mr Bijli added. The first movie will star Aamir Khan as its lead. PVR Cinemas had raised about Rs 173 crore through an IPO early this year. The proceeds are being used for expansion of its screens as well as setting up no-frills cinema theatres in A & B cities.Start a SIP with as low as ₹500 with ET Money App!
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