March 27, 2013: ‘Go Rural’ is nowadays the mantra for new age marketers and PVR is also going that way. One of the most famous multiplex chains in PVR is planning to take the multiplex viewing experience to rural areas of India. PVR has launched small multiplexes more often called as ‘nano’ multiplexes in rural areas. The multiplex chain has already experimented with this format in places like Aurangabad, Latur and Nanded and they have plans to open more than 100 screens by the end of 2014.
PVR Talkies are small multiplexes which will have an average area of 50-60 sq ft. Generally multiplexes occupy an area of 30,000-40,000 sq ft. PVR is experimenting with PVR Talkies in rural areas and small towns as these places are hard pressed for space and have more regulatory formalities. Other challenge that are faced by multiplex owners in small towns is that they don’t have malls where multiplexes are generally set up and there are markets like Tamil Nadu where there is a cap on ticket prices.
The company has recently acquired 93 per cent shares of another leading player in multiplex space, Cinemax. The deal size is said to be Rs.543 crore. With this acquisition, PVR has currently got 351 screens in 16 states spread across 85 cinemas and its fiscal revenue at the end of 2012 stood at Rs.470 crore.
