22 Sep 2017
Live Post
Hathway’s cable TV and broadband capex to be Rs 270 cr in FY18
Cut in interconnect charge may boost RIL's EPS by 8%
Package soon to boost economy; no cuts in fuel rates: Arun Jaitley
Global child bride racket busted in Hyderabad, 20 arrested
Tracked so far: Rs 75 crore in Dera bank accounts
Violence in Tripura: Journalist hacked to death, sec 144 imposed

PVR Cinemas becomes largest IMAX partner in India with 10 screens

MUMBAI: PVR has signed an agreement with IMAX Corporation to add five IMAX theatres in the Indian market.

Through this rollout, PVR cinemas will retain its position of being the largest IMAX partner in India with its total count rising to 10 IMAX screens.

The new IMAX theatres, which are planned to be located in Delhi and other major metropolitan markets, are slated to open this year.

Said PVR CMD Ajay Bijli, “The tremendous success of our existing four IMAX theatres, along with the upcoming slate of differentiated and exclusive IMAX content, provided us the confidence to double our commitment and continue to leverage IMAX as a strategic part of our business. With IMAX anchoring our most important locations, we look forward to further strengthening our presence in India by offering our patrons the most technologically advanced movie going experience available.”

PVR’s IMAX theatres feature IMAX’s cutting-edge projection system that delivers crystal-clear images, coupled with IMAX’s customised theatre geometry and powerful digital sound system.

Said IMAX CEO Richard L. Gelfond, “We are really pleased to continue to develop the IMAX footprint in India – the fifth-largest film market in the world – with PVR. We’ve been trying to develop the Indian market for 15 years, and now finally have the momentum to build out our brand nationwide and release Indian films. Our 26 theatres in India, signed or open, and our 10 signings in the last year show that India is becoming a very important market for us.”

PVR Cinemas currently operates a cinema circuit of 579 screens at 126 properties in 50 cities with 4 IMAX screens in Mumbai, Bengaluru and Noida. Since April 2016, IMAX has signed 10 theatre agreements in India – the highest number of signings in India in a single year in the company’s history. The current deal with PVR Cinemas marks one of the largest single theatre signings for IMAX in the country, bringing the total number of IMAX theatres to 26, with 11 currently open and 15 contracted to open.