Curtains Down On 50 Cinema Screens: Will OTT Kill Movie Theatres?
Shares of leading cinema exhibitor PVR-INOX fell by over two per cent after the company reported a consolidated net loss of Rs 333.99 crore for the fourth quarter that ended on March 31, 2023. The company has decided to shut down 50 loss-making cinemas over the next six months. The debate on whether the days of watching movies at cinemas may be ending is once again back in the news. But those in the business, including Ajay Bijli, the MD of PVR-INOX insist that there is no replacing the cinema.
