India’s top multiplex players eye drive
PVR Cinemas, INOX Leisure Ltd and Carnival Cinemas are looking to tap into new streams of revenue as consumers remain wary of cinema halls
The investment on drive-in cinema spaces could range from ₹3-5 crore per property depending on the size of the land, and even go up to ₹8 crore
NEW DELHI: After more than five months of shutdown resulting in zero revenues, India’s top multiplex players are eyeing drive-in cinemas to be able to bounce back to business by the end of this year or early next year. Information shared by realty consulting firms and film screen manufacturers on the condition of anonymity shows that even the top cinema chains are exploring the drive-in options to generate revenue.
With consumers still wary of being confined in closed auditoriums for hours to enjoy a film experience, companies like PVR Cinemas, INOX Leisure Ltd and Carnival Cinemas are looking to tap into new streams of revenue across states like Delhi, Maharashtra, Karnataka, Kerala, Andhra Pradesh and Telangana.
PVR and INOX did not respond to Mint’s queries but Carnival admitted there has to be a new normal.