PVR Inox is feeling the pressure of its towering debt, and while it’s making various efforts to stay afloat, much relies on consumer spending. With the festive weekend approaching, the outcome will hinge on consumers’ choices between relaxing at home binge-watching Netflix or making plans to go to the movies.

The company has tried pulling several strings to turn its losses around. In May this year, it joined forces with Star Sports to broadcast live matches of the ICC Men's T20 World Cup 2024 on the big screen, amid a dip in the number of movie releases.

More recently, in September, the multiplex chain said it would shutter underperforming screens to shore up profits. It planned to close 70 underperforming screens in fiscal year 2025 as part of its strategy to improve profitability. While that has helped to some extent, the company continues to be weighed down by losses.

The theatre chain's losses narrowed 93% to ₹11.8 crore in the July to September period compared with a ₹178.7 crore loss posted in the last quarter. Revenue from operations stood at ₹1,622.1 crore, 36% higher than the ₹1,190.7 crore it posted in the April to June period.

Amid a cooling movie market, the company is trying to find its luck in its food and beverage business. Interestingly, in FY24, the firm’s food and beverage business contributed to 32% of its total revenue.

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Cost To Watch A Movie This Weekend

Benzinga examined the amount a consumer would need to spend if they were planning to visit their nearest PVR this weekend. We calculated the cost of tickets and basic snacks including popcorn and coke, available on PVR’s website. We analysed the numbers for four Tier 1 and Tier 2 cities — Delhi, Mumbai, Bhopal and Patna.

A ticket for the latest Bollywood release in the national capital would cost anywhere upwards of ₹200. A regular tub of salted popcorn costs around ₹410, while a glass of a regular aerated drink will set you back about ₹350. On average, a consumer would need to spend at least ₹960 if they were to visit a PVR this weekend.

In Mumbai, tickets would cost almost the same, starting at around ₹200. There may be a slight moderation in the cost of food, with a popcorn tub priced at around ₹420 and a beverage priced at about ₹350. Overall, it would cost almost the same to hit the theatres in the financial capital.

In Bhopal, however, which houses only one PVR multiplex, a ticket for the latest release is expected to be priced at a minimum of ₹230. A tub of popcorn would cost ₹330 whereas a regular-sized glass of aerated drink is priced at around ₹280, bringing a consumer’s total spend to around ₹840.

In the city of Patna, which has two Inox theatres, the minimum price of a ticket is ₹350. A tub of regular salted popcorn would cost ₹320 and a glass of regular-sized drink is priced at ₹270, bringing a customer’s total spending to around ₹940.

Is Bollywood In Trouble?

Now, the F&B business may be the company’s only saving grace amid the lacklustre movie market. Movies are struggling to captivate consumers, with production houses themselves treading in murky waters.

Earlier this month, Adar Poonawalla, CEO of the Serum Institute of India, said the firm would buy a 50% stake in Karan Johar’s Dharma Productions and Dharmatic Entertainment via Serene Production for ₹1,000 crore. Johar will retain the other 50%.

In FY23, Dharma Productions' revenue went up to ₹1,040 crore from ₹276 crore the previous year. However, its net profit fell 59% to ₹11 crore due to expenses ballooning four and half times to ₹1,028 crore. 

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