PVR on March 12 screened live the concert “BTS Permission to Dance”, performed in Seoul, at its theatres in 25 cities of India at a ticket price of Rs 1,200, the highest ever for any movie or alternative content.
Due to high demand, it was replayed at 6 pm that same day.
The average ticket price for a movie in FY20 was around Rs 200 and that was before the pandemic, Gianchandani said. However, other alternative-content shows will not have such high prices and will be priced in a range similar to those of movie tickets.
Both cinema chains —PVR and Inox Leisure — are looking to increase revenue from events like live shows; sporting events, which also include tournaments; and the live broadcasting of matches over the next few years.
Currently PVR sees less than 1 per cent of its revenues from alternative content.
In FY23, Inox Leisure expects to see 2-3 per cent of its revenues from alternative content and expects it to go up to almost 5 per cent in the next few years.
Inox is looking at showcasing not just cricket matches, like it has done in the past. It is also looking at various other sports including football and is considering showcasing Formula 1 races, along with having tennis on the cards. Business Standard