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    PVR to install over 20 ICE Theatres in India basis performance of pilot screens

    Synopsis

    “When it comes to introducing a new specialty format, we pilot the program first and then subject to satisfactory performance, we roll out in big numbers,” Renaud Palliere, CEO of the Luxury Collection at PVR told ET.

    PVR--bccl
    These screens will generate ROI within 3 years, said CEO of Luxury Collection at PVR.
    India’s leading multiplex chain PVR, which recently signed an exclusive agreement with French exhibitor CGR Cinemas to bring their high-end screen format ‘ICE Theatres’ to India, will look at rolling out at least 20 screens in India, if the pilot with the first three screens works.

    “When it comes to introducing a new specialty format, we pilot the program first and then subject to satisfactory performance, we roll out in big numbers,” Renaud Palliere, CEO of the Luxury Collection at PVR told ET.

    Initially, the company will launch three ICE Theatres – one each in Delhi, Mumbai and Bengaluru.

    “The first three will come very fast, within the next six months. We will run them for about 12 months and have enough data to take the project ahead,” Palliere added. “If everything is ticking the box then we will go for a more substantial rollout. We're looking at probably 20 screens and if it works very well, we can go well beyond that.”

    While he refused to share details on the cost per-screen, he said that these screens will start making money within three years.

    “As part of our agreement with CGR, we signed NDAs, so we can't disclose the cost, but we're looking at an ROI well within three years of making this expenditure. This will be simply by increasing occupancy because of the expected popularity of the format, and a marginal increment on the ticket price as well,” Palliere explained.

    He added that the price increase will not be too high, and in line with the money one must spend for any other specialty format that the company currently operates, including IMAX, 4DX or PXL.

    ICE Theatre is like a surround sound for visual effects. It has side panels that, combined with the screen, create a peripheral vision, which doesn't distract a viewer from the mainstream action or image, but gives a sense of enhanced immersion by having this background contrast of colours and motion.

    So far, over 100 Hollywood films have been released in the ICE Theatre format, including ‘Doctor Strange in the Multiverse of Madness’, ‘The Batman’, ‘Fantastic Beasts: The Secrets of Dumbledore’, ‘Morbius’, ‘Sonic The Hedgehog 2’, ‘Jurassic World: Dominion’ and ‘Top Gun: Maverick’.

    With the format coming to India, PVR hopes that even Indian producers will go for the remastering of their films for this format.

    Incidentally, the studios don’t have to pay to get their movies mastered for this format.

    “There's no cost incurred on behalf of the studios for that to happen, so that's already a major hurdle removed. Secondly, as there's no change to the main image there is no challenge creatively,” he added.

    In April, PVR Cinemas had entered a similar exclusive tie up with Oma Cinemas, the premium auditorium concept created by French architect Pierre Chican, to roll out opera houses-inspired cinemas in India. PVR is working on the pilot, which is expected to be ready within 18-24 months.

    PVR, which has 858 screens in total, offers a few premium formats – IMAX, 4DX, Playhouse, Gold, LUXE, PXL, ONYX, Drive-in and Director’s Cut. At present, premium screens account for less than 15% of PVR’s overall screens, which Palliere said will increase with time.

    “At a group level, the premium screens represent about 15% of the total screens, which is increasing with time as there is strong and consistent demand for a more premium experience,” he said.


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