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New definition of cinema: Opulence & Comfort for the Viewers
By Enkayaar, Bollywood Trade News Network
Who would have thought that in the boom that the stock markets are experiencing would also mean that the entertainment companies, especially those which are in the business of exhibiting and distribution of films would mint money out of this buoyancy. But this is precisely what is happening in the market. CINEMAX, which has redefined the concept of movie viewing by incorporating features like Red Lounge having luxurious seating and massage-chairs finds that the investors have oversubscribed its share. This inspite of the fact that CINEMAX as a chain has its tentacles spreading only within the Municipal limits of Mumbai, but the word of mouth publicity of the kind of ambience that CINEMAX has provided for movie goers, is what has warmed the cockles of the investors as they would be waiting with anticipation the ambience and experience which the movie goers of Mumbai has been accustomed to in a pampered manner.
This is fourth in the series of public issues that have been raised by the companies in the business of film exhibition and all of the stocks have been performing with aplomb but for a few like RGV Films, whose stocks have been static as the movies out of its stable are not generating revenue in the desired quantum. Companies like PVR, Adlabs, and INOX have been making waves at the box office.
This trend is of recent times that got its best publicity when Anil Ambani decided to buy a stake in the Adlabs Films, there by signaling his intent of taking this segment seriously. Then came INOX, followed by Shringar Films which took movie viewing to a different altitude altogether. The money raised by predecessors from the market has been ploughed back into upscaling the facilities and setting up more theatres all across the country to provide the experience to viewers of the same magnitude as it is being provided to Mumbai viewers. Mumbai is the nursery and the laboratory for such experiments as more than 30 percent of the revenue of box office is provided by Mumbai, and to further augment this revenue new features are being added by the cinema owners to develop brand loyalty.
Adlabs multiplexes in Mumbai and Delhi with this objective in mind have introduced a Baby Bliss service new parents, which comes bundled with nappy change, milk warming, temporary baby sitting and play area, all bundled in the normal costing of the tickets. By this small gesture Adlabs has ensured that parents with toddlers who had to stop movie viewing till the child attained age of three-four years, can now hit back tot theatres with a vengeance within few months of the bay being borne, and that to those which provides the parents the ambience to watch the movies without bothering about child's cry. This show has been slotted in the Sunday mornings and has been termed the Baby Bliss Show aptly.
With the same objective in mind, PVR chains has moved to the other spectrum and has decided to bring back older generation to the cinema halls by providing special screenings for them, with chaperoned services as also semi-dark ambience in the theatre. It is like developing brand equity by providing niche services that would ensure a brand loyalty. This trend of PVR seems to have been copied from the initiative taken by Dignity Foundation promoted by Tina Ambani, which took this in the refurbished Metro Cinema of Mumbai and carved a time slot especially for the senior citizens and gave them an ambience of warmth to view movies with dignity.
As per the estimates the domestic box office market is expected to grow at the compound annual growth rate of 14% and by 2010 the industry is expected to grow to twice its present size, and to prepare for this expansion the companies are lining up with share issues and are getting the thumbs up from the investors as well. May more such issues proliferate in the market, so that the viewers can have ultimate experience of viewing of the dreams on the silver screen.