PVR looks to expand, signs deal to add 16 more 4DX screens
Hong Kong: Leading multiplex operator PVR Ltd will increase the count of its 4DX screens to 21 by investing around $11 million (Rs70 crore) in the next two years, said a top company official.
The Gurgaon-based company on Wednesday signed a deal with South Korea’s CJ 4DPLEX at Cine Asia 2017 to add 16 more screens as it is ramping up offering in the premium segment in metro markets. The 4DX features include effects of motion, wind, lighting, fog, rain, snow, rain storm and scents. It also offers a complete visual, aural, olfactory and tactile experience to cinema viewing.
“We would be investing USD 11 million on 4DX and we really hope that this technology can really take a giant step towards making a new market for itself and getting more and more consumers back into the cinemas,” said PVR Cinemas CEO Gautam Dutta. The average investment will be around Rs3.5 crore per screen. The company said it can leverage technology by way of a higher average ticket price.
“If the average ticket price for the same content playing in a standard screen is about Rs 100, at 4DX, the ticket prices could be in the range of Rs 250-300,” Dutta added.
The new screens will come to existing metro markets and smaller locations such as Ludhiana and Chandigarh. PVR is operating three screens in Delhi, Mumbai and Bengaluru and two are in the process of retrofitting in other cities by the end of this year.
“PVR will add 16 more 4DX screens at its cinemas, taking the total to 21 4DX auditoriums in India by the end of 2019,” the company said. CJ 4DPLEX CEO Byun H Choi said: “It is a meaningful event for us that the largest cinema exhibitor in India recognised 4DX as pioneer of the innovative cinema technologies.”
Started in 1997, PVR currently operates 600 screens in 51 cities. It had a revenue of Rs2,002.01 crore in 2016-17. PTI