PVR, one of India’s largest multiplex chains, has launched a “Buy Two Get One Free” offer for movie tickets until May 31st, 2023, due to sluggish box office sales. Last few weeks saw dip at box office except couple of Hollywood films managed to score decent number.
Offer is valid on all new releases including Fast X, Jogira Sara Ra Ra and The Little Mermaid.
The company has decided not to take fresh handover of new screens until there is stability in the box office business and will be shutting down 50 screens in the next six months. Despite the weak Q4 results, upcoming movies like Fast X, Adipurush, and MI-Dead Reckoning have kept brokerages bullish on PVR INOX.
However, PVR’s previous “Buy 3 Get 1 Free” offer for Laal Singh Chaddha and Raksha Bandhan failed to increase box office collections. It is worth noting that PVR and Inox have been criticized for charging high prices for movie tickets. Nevertheless, the company has seen an increase in the share of regional content in its box office numbers, with regional content accounting for 33% of PVR Inox’s box office numbers in FY23 versus 23% pre-Covid.
In conclusion, PVR’s “Buy Two Get One Free” offer is an attempt to boost box office sales during a period of sluggish business. Despite the challenges faced by the company, upcoming movies have kept brokerages bullish on PVR INOX.
PVR Re Releases Cult Disney Films Including The Lion King And The Jungle Book
PVR have announced a week-long event to showcase handpicked Disney films, including cult classics such as The Lion King and The Jungle Book. This event is part of PVR’s initiative to bring back Disney’s much-loved movies, starting from May 26th to June 1st, 2023, with the release of The Little Mermaid. This is not the first time Disney has re-released its films in theaters.
In 2022, Disney confirmed the theatrical re-releases of some of its films, including Thor: Ragnarok, Rogue One: A Star Wars Story, Cars, and Encanto. Disney has also announced several upcoming films, including Black Panther 2 and Avatar, which have locked release dates. However, the PVR and INOX event is a great opportunity for fans to relive the magic of Disney’s classic films on the big screen.
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