In the absence of any big film releases in the next three weeks, multiplex operators are wooing cinegoers by slashing ticket prices 30 per cent.
“Looking at the situation, we decided to keep the price points attractive . Though the rates vary, depending on locations and days, we have reduced the prices by 30-40 per cent ,’’ said Sunil Punjabi, CEO, Cinemax. Tickets will now be Rs 60-250 from Rs 100-320.
PVR and Inox have also reduced ticket rates considerably. According to a source, there has been more than 50 per cent decrease in some places, depending on location and shows.
The February-March season is generally slack, as most student examinations are in this period. This time, there has also been the cricket World Cup. As an indication of Bollywood’s cautious attitude, March will just see a release of two movies, Yeh Faasley and Happy Husbands.
“The occupancies have dipped to 20-25 per cent. Multiplex chains can expect a 35-50 per cent slump in this quarter,” said an analyst with a Mumbai-based broking firm.
According to sources, some multiplexes are operating fewer screens in each property to keep the cost of operations low.The biggest overheads for operators are rentals, electricity, staff salaries and marketing. Around 25 per cent of revenue comes from food and beverage sales, and the the balance from ticket sales.
Many are now showing re-runs of blockbusters, looking at screening alternative content, holding movie marathons and film fests. For instance, Cinemax is holding a month-long movie marathon. “During the first week, there will be a sci-fi festival showcasing films like Avatar, Inception and 2012, followed by a Rajnikant festival. The third week will have a regional movie festival,” said Punjabi.
