By Alokananda Chakraborty
The three large blockbusters – Pushpa, RRR and KGF Chapter 2 – from the south movie trade have gotten audiences again into single-screen theatres in good numbers. So will the larger-than-life, uncooked motion thrillers lastly change the script for India’s single-screens, most of whom had been counting their days earlier than the top got here? The consensus is aside from the southern a part of India and a few non-metros, single-screen theatres could have at greatest bought some respiration area; nothing extra.
“Action style motion pictures are inclined to do nicely in single-screens, specifically the south motion motion pictures that are technically superior. The single-screen viewers is predominantly younger male (as in opposition to households within the case of multiplexes), says Shailesh Kapoor, founder & CEO, Ormax Media.
But past that, the image is bleak. Consider the figures: From round 8,500-9,000 single-screen cinemas throughout the nation in 2018-19, round 6,200 are nonetheless working, with a majority positioned in Andhra Pradesh. “At least 15-20% single-screen theatres have either shut down since they can’t manage operations anymore, or are exploring redevelopment,” says Bappaditya Basu, CBO, Anarock Commercial.
The price of working even a small theatre can run into ₹4-5 lakh per thirty days, estimate analysts, and with ticket costs at `100-110 (in markets of the south it’s as little as `70) it may be debilitating for an operator who doesn’t have the deep pockets of a PVR.
The choices are restricted. Some of the theatre homeowners have gone in for redevelopment as a business property with a mall, multiplex and/or an leisure zone. Take Delhi’s iconic Odeon, the erstwhile single-screen theatre, which was among the many early ones to transform to a multiplex with two screens and state-of-the-art services in 2009 amid stiff competitors from multi-screen theatres.
“Traditionally, the single-screen theatres have a seating capacity of 400-500 plus seats while the average occupancy is anywhere between 30-50%. As such, there is a significant spare capacity available and potential to optimise the space as well as enhance the movie programming mix,” says Ajay Shah, associate, funding banking advisory, EY. “Over the past few years, we have seen an increasing trend to convert the single-screen theatres into a 2- or 3-screen multiplex depending on the size and space available. The key thing will be investment required for such a remodelling (and the break-even period thereof) and we expect to see many models evolving to facilitate such a transition.”
But that’s not simple. A living proof is Alka Talkies, one of many oldest single-screen cinema halls in Pune. It is a part of town’s heritage. “Can you convert it into a mall or warehouse overnight? Unlikely, as there will be resistance from local people and even local authorities,” says a commerce analyst.
Local regulation may show to be a bugbear. Take Mumbai. The state’s coverage permits homeowners to redevelop their properties however Maharashtra has had this rule in place because the Seventies that mandates there must be a theatre at the very least a 3rd of the dimensions of the present one within the new redeveloped web site. This regulation was put in place at a time when there have been fewer theatres within the metropolis; now it has put many theatre homeowners, who should not have a lot open area to each adjust to these diktats and monetise worthwhile actual property, in a pickle.
Then there may be competitors from over-the-top or OTT service suppliers to reckon with. OTTs turned the saviour for the film trade on the peak of the current pandemic when theatres had been shut and lots of releases bought caught within the pipeline. OTT providers are priced affordably, so are the web packages offered by cell service suppliers. The platforms went for producers with caught initiatives. According to EY estimates, over 100 movies launched immediately on streaming platforms. Another estimate says at the very least 20 large Tamil movies launched immediately on main streaming platforms.
A much bigger downside, says Kapoor, is that the majority Hindi motion pictures today are made for multiplex audiences – for viewers who’re able to shell out, say `240-250 for a ticket and one other `250-300 for F&B. “Those romcoms or Jugjugg Jeeyo type movies will not find many viewers in non-multiplex theatres,” Kapoor says.
It is probably not time but to write down off single-screens, however one shouldn’t be shocked if extra down shutters in bigger cities, or simply turn out to be a warehouse for big e-commerce companies.
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Source: www.financialexpress.com”