CHENNAI: Multiplex chain operator PVR Cinemas is witnessing a faster-than-expected recovery and is hopeful of reaching pre-Covid numbers in the next two months. Speaking to this publication, Pramod Arora, chief growth and strategy officer, PVR Ltd, said that strong pent-up demand to watch movies on the big screen and the flow of good content will help deliver rapid recovery.
In order to ensure that it can cater to the rising demand, PVR is busy in expanding its footprints in Tier II and Tier III cities. “We have plans to launch at least 80 to 85 new screens, mostly in smaller towns, this year,” Arora added.
As part of this expansion plan, the company launched a six-screen property in Mysuru on Friday, while it had opened three new screens in Kanpur on March 1. Hoping to capitalise on the growing potential of markets with inadequate screens despite high demand, PVR is working with small developers and reviving defunct single screen theatres by converting them into multiplexes.
Arora added that there was a huge potential for growth in smaller towns for the multiplex industry since while the disposable income in Tier-II and Tier-III cities has increased, people have limited avenues to spend quality time. PVR aims to make modern cinematic experience accessible to audience across the country, he said.
Arora added that PVR has managed its cash flow during the pandemic in a way that has helped tide over difficult times. “We have introduced enhanced hygiene protocols and safety measures. Business has picked up and people are back at cinemas. There is a strong content pipeline this year which will help to get business back on track,” he said.