ENTERTAINMENT

Snacks Bring in More Money for Multiplex Chain PVR Inox Than Tickets: Report

In their free time, people like going to the movies, and it’s even better when they can eat popcorn. Unexpectedly, a story circulating on the internet claims that PVR Inox, the leading multiplex chain in India, has made more money from food sales than from ticket sales.

According to the sources, the biggest multiplex chain in India released its financial results for the whole fiscal year 2024 as well as its quarterly results for the months of January through March 2024. The results showed that the income from food and drink exceeded the revenue from ticket sales, pointing to a substantial shift in the entertainment industry.

Additional evidence indicates that PVR Inox saw a spectacular rise of 21% in food and beverage sales for the fiscal years 2023 and 2024. In comparison to the previous year’s Rs 1,618 crore, it allegedly increased to Rs 1,958.4. While ticket sales income increased by 19% to Rs 3,279.9 crore from Rs 2,751.4 crore the previous year,.

Regarding the peculiar story, Nitin Sood, the multiplex chain’s global CFO (Chief Financial Officer), released a comment. “Unfortunately, box office has been a mixed bag, which has led to an outpacing growth in F&B (food and beverage) revenue growth rate,” he said. F&B will also do better than ticket sales.

In addition, PVR Inox’s box office earnings increased by 19% in the 2024 fiscal year. Compared to Rs 3,295.2 crore the previous year, it amounted to an amazing Rs 3,915.8 crore. Further allegations state that the firm brought up the releases’ erratic box office results all year long.

The quick-service restaurant chains are almost in direct competition with the multiplex’s food and beverage sector. As it approached Rs 2000 crore, it emerged as the company’s second-largest source of income. Senior Vice President at Elara Capital, Karan Taurani, claims that the establishment of several outlets in both non-metropolitan and metro areas is what’s responsible for the rise in revenue.

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