When it comes to reel life matters, India is way ahead of the rest of the world. With over 1,000 movies being churned out every year, it tops the film production charts - never mind that the vast majority of those flicks are box-office duds. India is also No.1 when it comes to attendance, with over three billion tickets sold a year. Where it lacks, though, is in the number of screens - there are just 10 screens per million people, unlike in the United States, where there are 120 per million. That unmet opportunity is what multiplex chains are lining up to seize.
The Multiplex Association of India estimates that there are around 900 multiplex screens in India. By April next year, the count will increase to 1,350. At an average cost of Rs 2 crore per screen, that is an investment of Rs 900 crore. Nikhil Vora, MD of IDFC Securities, believes the industry is well capitalised to keep pace with its growth projections.
Copyright © 2015. Legend Group. All Right Reserved.