PVR gave a big shock to movie fans..!?

Due to the growth of OTT companies, the release of new movies in theaters is increasing, and PVR multiplex has suddenly increased the ticket fees, which has caused a big shock to the fans. As the number of fans going to the theaters is already decreasing, it is expected that the increase in PVR fees will further decrease.
Following PVR Multiplex, other companies are said to be likely to hike the fares. But will fans continue to visit theaters for the cinematic experience? Or we have to wait and see if they skip going to the theaters and watch the movie at home through OTT. India's largest multiplex operator PVR has hiked ticket prices by up to 23% amid high inflation, rising labor costs, and redevelopment costs. PVR CEO gautam Dutta said the hike in ticket fares helped it record its best ever quarterly revenue, crossing the Rs 1,000 crore mark.Every year, they hiked the ticket fare by 5-7%, but in the last two-and-a-half years they have not been able to do that. At this time, rent, electricity costs, and maintenance charges have gone up. So they decided to hike the ticket fare, said PVR CEO Dutta. He added that he expects the growth to continue even though cinema attendance has not yet reached pre-Covid levels after the coronavirus outbreak. Dutta also said that they expect pre-pandemic ad revenue to reach pre-pandemic levels by Q3 FY23 as PVR plans to roll out new avenues to attract audiences into theatres. Ad revenue is now 68% of pre-pandemic levels.PVR is said to be planning to open around 100-110 theaters in 2022-23, up from the average of 80-90 theaters opened in the pre-pandemic year. PVR said around 11% of the company's revenue came from advertising, which declined significantly during the pandemic, but at the same time expects to reach that figure by Q3 of fiscal 2023. And for the first time in India, PVR has launched 270-degree on-screen experience of cinema ads to further excite moviegoers, the report states.

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