Can Barbenheimer turn around PVR Inox’s fortunes after Bollywood’s disappointment?

Can Barbenheimer turn around PVR Inox’s fortunes after Bollywood’s disappointment?

India’s largest cinema operator, PVR Inox, is strategically utilizing Hollywood’s latest releases, “Oppenheimer” and “Barbie,” along with enticing offers such as unlimited popcorn, to revive footfall in theaters. Despite the rise of streaming services, there are still patrons who prefer the charm of the big screen experience.

To capitalize on the global frenzy surrounding “Barbenheimer,” PVR Inox has introduced countdown timers across various locations. Additionally, it commenced screening “Oppenheimer” at midnight on Friday, coinciding with its US release date. The pricing strategy has also been adjusted, with snack prices reduced to address customer complaints of high costs, often surpassing ticket prices. Furthermore, moviegoers can enjoy unlimited popcorn refills over the weekends.

In a bid to generate hype and engagement, select theaters will organize an “Oppenheimer” movie marathon, featuring continuous screenings for 24 hours. Gautam Dutta, the co-CEO of PVR Inox, confirmed that the combined advance ticket sales for both films over the opening weekend reached a staggering 900,000. This figure establishes a new record outside the Marvel or “Avatar” series.

“We anticipate a significant portion of the current quarter’s revenue to be contributed by the success of ‘Oppenheimer’ and ‘Barbie,’ given the immense excitement surrounding them,” Dutta expressed.

PVR Inox, boasting a wide network of 1,702 screens, faces the same challenges as its global counterparts in attracting audiences amidst the increasing popularity of streaming platforms like Netflix. Moreover, the recent onslaught of Bollywood failures hasn’t aided the situation for the Hindi film industry. Encouragingly, a PVR Inox staff member in Mumbai reported full bookings for several “Oppenheimer” shows, including the midnight and 7 a.m. screenings on Friday.

BookMyShow, India’s online movie ticket booking service, announced that 8% of “Oppenheimer” ticket buyers also secured tickets for “Barbie,” many for the same day. By July 15, more than 354,000 tickets had been sold for the two films, according to BookMyShow.

 

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