Published On:June 10 2017
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PVR to expand 4DX screen portfolio at a cost of Rs. 55 crore.
Multiplex chain PVR will adding ten 4DX screens to its portfolio over the next 10 months, in an effort to further consolidate its leadership position in the cinema exhibition sector. At 579 screens, the Ajay Bijli-led company is the biggest multiplex chain in the country and will now be focussing on enhancing its portfolio by offering more varied experience options.
4DX refers to a technology which gives cinema goers a multi-sensory experience while watching a film with extra features and environmental effects like wind, mist, bubbles, snow and scent that work in synchronicity with the action on the big screen.
The first two of these 10 additional screens were launched on Friday at Mumbai and Bengaluru (one each). Last month, PVR has announced a deal with IMAX to increase its IMAX screen portfolio by 10 screen over the next two years. This latest expansion of 4DX screens will cost PVR anywhere between Rs. 50-55 crore at Rs. 5 crore (approx.) per screen.
'We want to be young and agile as a brand. We see it as the only way to strengthen our leadership position. We won't be launching the new screens at new properties necessarily. Most of the screens will come up at existing PVR multiplexes like the one in Mumbai at Kurla Market City. We'll also be converting a lot of current and upcoming titles to 4DX so there is a strong pipeline of 13 titles currently which we will be screening over time,' says Gautam Dutta, CEO, PVR Limited.
The cost of conversion to 4DX is close to $500 per title which will also be spent by PVR. Titles that will be available in 4DX at PVR will include Cars, Kingsman, Spiderman: Homecoming, and Annabelle among others. The new screens will be coming up in cities like Gurgaon, Hyderabad, and Pune in addition to the ones launched in Mumbai and Bengaluru.
The company expects for each screen to break-even within three years of launch. The addition of 190 4DX screens will also mean an appreciation in the average ticket price (ATP) for the company since there is Rs. 200 premium that these screens command per seat. The multiplex chain however intend to limit the number of seats per 4DX screen between 80 and 125, with the only exception being the Kurla property with 144 seats. Dutta informs that PVR expects these screens to (individually) break-even in two to three years of launch.