After a bumpy ride of the industry in previous few quarters, the multiplex companies are now desperate for a box office hit. Starting with the IPL season 1 in 2008, the occupancy levels are moving south wards. The recent dispute between the Bollywood producers and multiplex owners on revenue sharing , has resulted a very sharp decline of occupancy to as low as 15-17% in Q1FY10 in comparison to around 35-40% in Q1FY09(which was then considered to be a poor occupancy level due to IPL 1).IPL season 2 and the economic recession have made the industry jump out of the frying pan, but only in to the fire.
Settling down of the dispute and the end of IPL 2 hav'nt bought back the shine yet. None of the movies in the recent past has been successful at the box office. With such a back drop, multiplex companies have built very high hopes on the movie "Love aaj kal" which is hitting the screens on friday. This is very evident from the following numbers, which are few of my observations. Though limited to bangalore, they are quite surprising and will let us understand the whole scenario.
There are 7 multiplex theaters in bangalore , including a new one by Fame cinemas which is going to start from friday at Forum value mall, Whitefield(and excluding innovative multiplex and vision cinemas, which doesn't deserve to be called so!!!).
On this week end, these 7 multiplex theaters put together are playing the new release "Love aaj kal" for 234 times. Yes... 234 shows in 3 days. New fame cinemas-Forum value mall is at the top, playing 51 shows (17 per day) followed by Inox(Garuda mall),Fame lido and PVR with 39 each. And this is just about Bangalore.
Same way, a regional telugu movie "Magadheera"(whose budget is over Rs.45 crore and is releasing on friday in over 1200 theaters accross 14 countries) is going to be exhibited in 46 theaters in Hyderabad with a highest of 16 shows a day at Prasad's IMAX.
Movie production is also an area which is drawing the attention of BIG boys. This is not just limited to Bollywood but is crossing the shores. After UTV productions, Big names like Anil ambani and Ranbaxy's ex-chief Malvinder singh seems to have great interests in hollywood film production. Anil Ambani's Big Cinemas has already struck a deal with Spielberg's Dreamworks, to invest close to Rs.1000 crore and to roll out around 20 movies in next 3yrs. On the other side, the bollywood actors have started producing films themselves including shahrukh, Aamir khan and more recently Saif.
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