PVR plans

PVR plans cinema halls overseas

PVR Cinemas, the largest cinema exhibitor in India, is all set to take the ticket to Hollywood. Through a joint venture with local players in the US and the UK, the multiplex chain will roll out cinema halls overseas.

However, top executives of PVR Cinemas declined to comment. With this strategic move, PVR will be the only Indian multiplex to have presence in these markets, which have a large ethnic Indian population.

According to a report by PricewaterhouseCoopers, overseas box-office revenues last year contributed almost 8 per cent to the total BO collection. This figure is expected to increase by 1 per cent this year.

PVR Cinemas, which currently operates in 13 cities via 21 properties (81 screens) is planning a major expansion spree. It plans to roll out cinema halls in 52 locations across 33 cities with 270 plus screens by the end of 2010, investing around Rs 1.5 crore per screen. The chain has digitised 14 screens and intends to digitise screens in semi-metros.

PVR has announced its foray into film production by collaborating with Aamir Khan Productions for two movies starring actor Aamir Khan. While the film first Taare Zameen Par is slated for release in December, the second film - Jane Tu Ya Jaane Na - will release in the summer of 2008. PVR plans to release four to five films by the end of FY09 and is believed to be in talks with various directors.

The company plans to strengthen its operations in the movie distribution space with big banner movies like Taare Zameen Par and has made an initial investment of Rs 80 crore for the expansion of its distribution business.

In the past, it has distributed several English movies on an all-India level and low-budget movies like Being Cyrus and Bheja Fry (not in Mumbai).

The chain has been a pioneer in adopting new technologies like internet ticket booking in 1999.

Today, the company earns close to 11 per cent annually from internet booking.

PVR is also considering providing movie tickets via SMS.