In a unexpected turn of events, India’s top multiplex chain, PVR Inox, has revealed that their food and beverage sales have surpassed ticket sales revenue. According to their quarterly earnings report for January-March 2024 and the full financial year 2024, the company has seen a significant shift in their revenue streams.
Here are some key highlights from the report:
- Food and beverage revenue grew by 21% to Rs 1,958.4 crore, outpacing ticket sales revenue.
- Ticket sales revenue saw a 19% growth to Rs 3,279.9 crore.
- The group CFO, Nitin Sood, attributed the mixed box office performance to the surprising revenue report.
- Sood stated that food and beverage revenue is expected to continue outperforming ticket revenue.
This report indicates a changing landscape in the entertainment industry, where the traditional focus on ticket sales is being surpassed by the demand for quality food and beverage experiences. As the multiplex chain continues to evolve, it will be interesting to see how they adapt to this new trend.
