PVR's tier-III bet with SMART Cinemas
PVR INOX on Tuesday unveiled PVR INOX SMART Cinemas, a new exhibition format aimed at expanding its footprint in India's tier-III cities through a capital-efficient
PVR INOX on Tuesday unveiled PVR INOX SMART Cinemas, a new exhibition format aimed at expanding its footprint in India's tier-III cities through a capital-efficient franchise model, as the country's largest multiplex operator looks to tap rising demand for organised entertainment beyond metropolitan markets.The new concept will be rolled out primarily through a Franchise-Owned, Company-Operated (FOCO) model, allowing developers and entrepreneurs to own cinema properties while PVR INOX manages operations. The company said the model is designed to accelerate expansion while making premium cinema experiences more accessible in smaller cities.The first PVR INOX SMART Cinemas property will open in Muzaffarpur in Bihar, which the company described as a fast-growing commercial and educational hub with increasing demand for premium entertainment.
PVR INOX said it has already signed agreements for six more SMART Cinemas properties, scheduled for delivery over the next nine months, and is in discussions with developers across several other growth markets.Each SMART Cinemas property will feature 2K laser projection, 7.1 surround sound, curated food and beverage offerings, modern auditoriums and the company's signature cinema experience, adapted into a value-led format for emerging urban centres.The company said the initiative comes as rising disposable incomes, expanding organised retail and infrastructure development reshape consumer demand in India's smaller cities."For nearly three decades, PVR INOX has transformed the way India experiences cinema. With PVR INOX SMART Cinemas, we are building on that legacy by creating a cinema concept designed for India's fastest-growing Tier III cities.
Across the country, aspirations are rising, and audiences are seeking the same world-class experiences that have defined PVR INOX. Our vision is to make those experiences more accessible than ever before, beginning with Muzaffarpur and expanding to new markets in the years ahead," Managing Director Ajay Bijli said.Executive Director Sanjeev Kumar Bijli said the new format combines scalability with operational efficiency."India's passion for cinema continues to grow, creating significant opportunities across the country's high-growth cities. PVR INOX SMART Cinemas combines a highly scalable,
capital-efficient expansion model with the signature PVR INOX experience. It enables us to grow alongside our partners while bringing world-class cinema to more communities across India," he said.Besides expanding its exhibition network, PVR INOX said the new model is expected to generate direct employment, strengthen organised entertainment infrastructure, contribute to state and local tax revenues and support the growth of retail ecosystems in the markets where it operates.PVR INOX currently operates 1,782 screens across 355 properties in 113 cities in India and Sri Lanka.
The BriefWire