7 days ago
Old hits and IPL screenings offer buzz, but not cash for cinemas
As the Bollywood pipeline ran dry, cinemas had turned to re-releases of older hits and screenings of live events like cricket matches to draw footfall. However, their contribution to overall revenues of movie theatres remained marginal.
While these strategies help boost audience engagement and drive food and beverage (F&B) sales, these are more stopgap measures than sustainable revenue streams even as a couple of films did better than original theatrical runs.
'We don't see a great amount of revenue coming from these alternate streams. Their overall earnings are quite miniscule compared to a new blockbuster such as Chhaava that made up 75% of all box office in the January to March quarter," Rahul Puri, managing director, Mukta Arts and Mukta A2 Cinemas said.
In lean quarters, the share of re-released films may appear inflated, but the model isn't viable in the long run, he added, even though some level of experimentation will continue.
To be sure, for Indian cinema, tapping into nostalgia has become the latest gamble to lure audiences back to theatres. Re-releases of beloved hits like Rockstar, Tumbbad, and Yeh Jawaani Hai Deewani have struck gold at the box office.
Movies that had barely found any draw during their initial run, are being rediscovered by audiences. Sanam Teri Kasam, a romantic drama, is currently one of the highest grossing re-releases in India, having made over ₹35 crore in box-office collections against ₹9.11 crore garnered in 2016. Laila Majnu earned over ₹11 crore last year, surpassing its original box-office takings of ₹2-3 crore when released in 2018.
Also Read: Re-released romantic films capture the hearts of young, nostalgic viewers
Evolving destinations
Multiplex chains like PVR Inox have also experimented with live screenings of IPL matches across 30-plus cities, pitching cinemas as evolving 'multi-faceted entertainment destinations." These initiatives have picked up pace in recent months amid a dearth of big-ticket Hindi releases.
'These streams cannot be seen as a stable source of revenue in the digital age (where all the films and sports tournaments stream on OTT platforms)," independent exhibitor Vishek Chauhan said. 'It is a one-off thing primarily driven by the fact that the supply chain (of new movies) isn't fulfilling audience demand well enough."
Even among the re-releases, it's a case of hit and trial, he added. While some titles, such as Sanam Teri Kasam, have done better than even new films, others, such as Andaz Apna Apna, Karan Arjun and Ghatak, barely found any draw.
Similarly, sports tournaments such as the IPL or live screening of the Ram Mandir inauguration ceremony were seen more as space fillers than big revenue generators.
'Cinemas are meant for movies and new titles primarily drive admissions," said Amit Sharma, former managing director, Miraj Entertainment, which operates multiplex theatres. 'While theatres will bring re-releases back whenever there is an opportunity, these can't make a big difference to the numbers," added Sharma, who stepped down from his role last week. The release calendar is more evenly spread this year as compared to 2024, making for lesser scope for re-releases and other initiatives over time.
Also Read: Single-screen cinemas hold off on property conversion offers even as theatrical business declines
