Network18 is foraying into movie theatre business and is opening the first multiplex movie theatre in Delhi.
‘The first theatre is coming up in New Delhi, and the plan ahead is to have a nationwide presence. We would like to build up a robust business and the aim is to be a leading player in this’.[source]
Network 18 is already into film production, acquisition, syndication, marketing and distribution business since 2006 thru’ Studio18.
A Look at Film Industry and Multiplex Business
As per a forecast by PricewaterhouseCoopers, the film industry is supposed to grow to Rs. 17,500 crore by 2011 and the growth will be largely driven by multiplexes.
Of the 13,000 screens in the country, the multiplexes’ share is only 4 per cent, yet they contribute to ~30% of Bollywood’s revenue (the box office figures that put collections at Rs 800 crore annually) – source
Other players in this business includes PVR Cinemas, Reliance-ADAG’s Adlabs, Inox Leisure, Fame Cinema and Pyramid Saimira Theatres.
Network18 is surely putting it’s money where the real dhandha is. What’s your opinion?