 "Lok Sabha Elections: You can watch poll results on June 4 in this theatre")
With three days to go for Lok Sabha election results, poll fever has gripped the entire country as people anxiously await the outcome. Riding the wave, Moviemax Cinemas has planned to capitalise on this excitement by screening the election results live on June 4.
“Watch the live screening of election results on June 4 2024 at MovieMax, starting from 9 am, in association with Times Now Navbharat. You get to experience the thrill of democracy in real time on the big screens!” the multiplex announced on various social media platforms.
The screening is available in selected cities, including Nagpur.
To book tickets, people can visit the official MovieMax Cinemas website or use third-party platforms such as Paytm. Tickets are available in two categories: recliner seats and normal seating, both priced affordably. Notably, the recliner seats are already sold out, but normal seating tickets are still available for just Rs 99.
Covid-19, OTTs impact multiplex business
The Covid-19 pandemic and the rise of comparatively affordable online streaming platforms have significantly impacted theatre revenue lately. Additionally, the underperformance of Bollywood films has exacerbated the struggles of multiplex chains, as they fail to draw audiences back to the box office. To adapt and stay afloat, cinemas have been forced to pursue box office initiatives like screening alternate events like film festivals and sports to make up for low revenue.
To mitigate their losses, multiplex chains are now also turning to live concert screenings of global stars like Taylor Swift and K-pop phenomenon BTS, hoping to capitalise on their massive fan bases and boost revenue.
PVR Inox narrows loss in Q4 FY24
Two weeks ago, India’s biggest multiplex chain PVR Inox reported a consolidated net loss of Rs 130 crore for the quarter ending March 31, 2024, a significant improvement from the Rs 333 crore loss in the same period last year, indicating a gradual recovery in the cinema industry. PVR Inox operates 360 cinemas with 1,748 screens across 112 cities.