 "PVR INOX to make 'Movie Re-Release' a major part of its business model")
Earlier this month, actor-producer Sohum Shah announced on Instagram that he will re-release his 2018 folklore horror film Tumbbad.
It piqued the interest of cinephiles and sparked an unprecedented frenzy, reaffirming the film’s cult following.
Three days after its re-release, Tumbbad raked in close to Rs 7 crore at the Box Office.
The film that boasts of stunning visuals and a knockout background score, follows a greedy village boy’s pursuit of a cursed ancestral treasure guarded by malevolent entity ‘Hastar’.
Interestingly, it received lukewarm response during its release six years ago, cornering only Rs 13.5 crore.
Tumbbad’s stellar opening upon its re-release comes as a breath of fresh air for Indian cinemas that are struggling to fill seats owing to muted demand for new releases.
The cumulative Box Office collection from January to August 2024 stood at Rs 6,868 crore, a 7.5 per cent drop compared to the same period last year, according to Ormax Media.
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Tumbbad’s success has instilled confidence into several film-makers who are planning a spate of
re-releases this year.
Apart from Tumbaad, Laila Majnu, a 2018 romantic drama and Ranbir Kapoor’s 2011 musical extravaganza Rockstar, are some of the other films that have given impetus to this trend.
“We’ve re-released around 47 movies from April 2024 to August 2024,” said Niharika Bijli, lead -strategist, PVR INOX told Business Standard.
“While the average occupancy for regular films from April to August stands at 25 per cent, re-releases have enjoyed a higher average occupancy of 31 per cent. This reflects a strong demand for audiences from a diverse age group,” she explained.
Banking on the recent re-release success of Imtiaz Ali's films, Zoya Akhtar's films and Tumbbad, she said that PVR INOX now wants to make re-releases a dominant part of their programme.
“There is a lack of demand for new films, which means that there are a lot more theatres that are available for these old films being re-released,” said Rahul Puri, managing director, Mukta A2 Cinemas.
“Historically, re-releases of some fan favourites and classics like Sholay, Deewar, and Mughal-E-Azam have always seen success. Recent re-releases like Tumbbad, Laila Majnu and Rockstar have brought a renewed energy to this trend,” Ashish Saksena, COO - Cinemas, BookMyShow, said.
“These films continue to resonate with audiences because they tell timeless stories that transcend generations. With strategic marketing and strong digital promotions, these films are now reaching an even wider audience tapping into the growing demand for nostalgia, yet remain relevant, so much so that the renewed interest in Tumbbad has helped producers announce a sequel thanks to its response at the Box Office,” Saksena added.
Films like Yeh Jawaani Hai Deewani, Gangs of Wasseypur, Rehna Hai Dere Dil Mein, and Jab We Met are released to target Gen Z audiences who couldn’t experience these films on a larger screen, said Amit Sharma, managing director, Miraj Entertainment.
“After Diwali, I don’t see this trend of re-releases going forward. We won’t have that window to re-release films because of the kind of movies that are slated to be released,” Sharma added.
He noted that there are fewer new content releases in Hindi and Telugu languages, and as a result, there are more re-releases in these languages. The space for re-releases in Tamil and Malayalam box offices is less as their Box Office collection remained steady.
“The pricing for such re-released movies is discounted by 30-50 per cent as compared to the new release of the film,” he explained.
This weekend PVR INOX, India’s largest film exhibition company with 1,745 screens, has two film festivals with select movies of Akkineni Nageswara Rao and Kareena Kapoor Khan being re-released.
PVR INOX has hosted over 20 film festivals since Covid, with re-releases in 10-50 cities depending on the film’s scale and appeal.
However, some cities stand out in terms of demand like Mumbai, Delhi, Pune, and Bengaluru.
As things stand, PVR INOX is planning a horror genre-based film festival around Halloween.
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> Cumulative BO collection from Jan to Aug stood at Rs 6,868 crore, a 7.5% Y-o-Y drop
> With success of Tumbbad and Laila Majnu, PVR INOX plans to make re-releases a dominant part of the business
> PVR INOX has re-released around 47 movies from April to August
> The pricing for re-released movies is discounted by 30-50 per cent as compared to the new releases
> Mumbai, Delhi, Pune, and Bangalore are witnessing higher demand for re- released movies