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Cinema Biz Undergoes Massive Change In Hyderabad
Posted by Pradeep Sadanapalli | June 28, 2008 | 846 views
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Loading ...The business of cinema is all set to change with the entry of multiplexes in Hyderabad. The very mention of Sangeet Theater brings nostalgia for many Hyderabadis and more so if you are a Hollywood movie buff. The 40-year old standallone theater in Secunderabad, one of the oldest in the city, will soon be converted to a four-screen multiplex.
It’s not just Sangeet Theater - another landmark theater Maheshwari - Parameshwari, located in Narayanaguda, will also be converted to a multiplex. And many standallone theaters might follow suit. The city will also be adding four new multiplexes.
Currently Hyderabad has just 13 screens in three multiplexes with a seating capacity of close to 3,000. The existing capacity is not enough given the large cosmopolitan population, the rising mall culture and a thriving film industry. The demand is so high that it is next to impossible to get a ticket for a new film if you don’t plan well ahead.
The lack of a multiplex policy has also been a major bottleneck for the growth of multiplexes in Andhra Pradesh. But that’s going to change with the entry of entertainment majors like Adlabs Cinemas, INOX and Cinemax. Adlabs is already making aggressive moves. The company plans to operate 17 screens in Hyderabad alone.
Tushar Dhingra, COO, Adlabs Cinema, said, “It is centrally located. A prolific cinema going market and a lot of turnaround. In terms of occupancy, South India operates at 60 to 65 per cent whereas North India is 40-45 per cent. There is huge gap that is why we are here.”
INOX and Cinemax are also coming up with multiplexes this year. While INOX will be operating six screens, Cinemax is going to operate three screens. Both these multiplexes are located in upscale Banjara Hills. The business of cinema seems to undergoing a quiet change in the city.
SOURCES:
Money Control
Topics: Latest Trends, New Pospects, Business News |
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