PVR Inox Plans To Screen T20 World Cup Matches In Cinemas As Movies Fail To Hit Box Office Highs

India’s largest cinema operator, PVR Inox is in talks to broadcast key matches of the upcoming International Cricket Council Men's T20 World Cup to attract more patrons amid struggling movie ticket sales.

What Happened: Nitin Sood, CFO of PVR Inox, highlighted in an interview with Bloomberg that the company aims to remain relevant by showing key games starting next month.

Sood mentioned that T20 matches are likely to attract larger crowds to cinemas compared to the day-long Cricket World Cup games hosted last October. PVR Inox is also expanding its offerings to include concerts, sports, and alternative events to boost attendance. Additionally, the Mumbai-based company is planning to bring filmed K-Pop performances to Indian audiences.

See also: SBI Reduces Workforce By 25,000 In Last 5 Years—Still Lowest Attrition Among Banks

PVR Inox’s Financials: Despite a net quarterly loss of ₹130 crore reported on Tuesday, PVR Inox has managed to reduce its losses compared to the previous year. The company attributed its slow growth to a lacklustre period in the film industry, with most major movie releases postponed until after the national elections in June.

Facing competition from popular streaming platforms like Netflix, Amazon Prime, and Reliance Industries Ltd.'s JioCinema, PVR Inox has introduced initiatives such as the PVR Inox Passport. This loyalty program offers discounted tickets for weekday screenings. The cinema chain is also revisiting fan favourites, planning to host film festivals to draw in moviegoers.

Read next: India’s Smartphone Shipments Jump 11.5% With Apple Leading The Charge