Things aren't looking up for Indian movie theaters. The biggest theater company, PVR Inox, lost money again (Rs 133 Cr!) in Q4 FY24, which was worse than what it had entailed in the previous Financial Year.
Analysts say things are still slow because there just aren't enough good movies coming out from Bollywood. There were a few unexpected hits that helped a little, but no major blockbusters.
As per an industry leader, ticket sales for April, May and June were "weak". "This is probably because there haven't been any big movies or because of sporting events like the IPL or the Cricket World Cup," Money Control has quoted an insider as saying.
But didn't 'Kalki 2898 AD' save the day? The Prabhas-Nag Ashwin movie emerged as the "highest grosser with Rs 302.4 Cr across languages but during only 4 days of the first quarter". It was released in theatres on June 27. If 'Indian 2', 'Kanguva', and 'Devara' do well, it will be a big boost. If the Vinayaka Chavithi releases click, the multiplexes can heave a sigh of relief.
