A friend of mine opened a restaurant in Andheri and invited me to the precursor ceremony to try the wide variety of food – from Indian to Chinese, Italian and fast food. I loved the meal and months later took my family to the same place for dinner. They enjoyed their meal to begin with but were surprised at the amount of the bill. Their reaction on leaving the venue was exactly why the friend had to close the restaurant exactly one year after the launch.
“The food was good, but how was it different from what we order home from a local restaurant? It was not good value for money, ”said my father. The friend takes this failure to heart, and, learning its lessons, renovates the place and reopens it at a subsidized rate. And guess what? Aside from the increase in income, there has also been a massive increase in footfall which has resulted in the restaurant having great food to offer with a highly efficient staff dispatched faster than ever before. . Just reworking the pricing strategy has done wonders for him because today he just sits down to count his profits each month.
Over the past 10 years, there has been a massive drop in dating – that is, the number of people going out to watch a feature film on the big screen. Although attendance has been shown to have dropped significantly, the Industry Window dresses up the scenario by showcasing the increase in revenue from year to year.
The same case study also applies to the cinema industry. Over the past 10 years, there has been a massive drop in dating – that is, the number of people going out to watch a feature film on the big screen. Although attendance has been shown to have dropped significantly, the Industry Window dresses up the scenario by showcasing the increase in revenue from year to year. The most watched movie of the last decade is Dangal, which grossed Rs 380 crore with approx. attendance of 3.70 crore. This is followed by Bajrangi Bhaijaan, who sold around 3.50 crore in tickets with collections of Rs 320 crore. The two films arrived in 2016 and 2015 respectively, and since then there has been a drop in attendance. Why? High ticket prices.
Right before the pandemic, we were in a time when movies with barely 1 crore in attendance were making 100 crore rupees at the box office, and that was a danger sign as the numbers only dressed up the reality of a brutal fall in cinema. public. The bubble was waiting to be broken sooner or later, and now, with the world overrun by the Covid-19 pandemic, the process has just accelerated. While multiplex chains were expected to cut ticket prices to cultivate cinema habits again, they reverted to old ways of working with higher prices for even non-event films. Prime-time shows on Friday and Saturday in national channels are in the 5 p.m. to 11 p.m. range, and at most metro stations, ticket prices ranged from Rs 300 to Rs 1,100 for size movies. average like Satyameva Jayate 2, Antim, Tadap and Chandigarh Kare Aashiqui.
Prime-time shows on Friday and Saturday in national channels are in the 5 p.m. to 11 p.m. range, and at most metro stations, ticket prices ranged from Rs 300 to Rs 1,100 for size movies. average like Satyameva Jayate 2, Antim,
Would you, as a viewer, want to splurge so much on a mid-sized film, especially since you know it will premiere in the digital world in 28 days? As a viewer, wouldn’t you prefer to save for a big budget event movie, which will go with a much higher pricing strategy than mid-size movies? These are the factors that those in the industry – from producers to distributors and operators must consider. There is an urgent need to rework the pricing strategy, as high prices would simply mean the death of midsize movies on the big screen, and the opening of a movie like Chandigarh Kare Aashiqui starring someone as popular as ‘Ayushmann Khurrana is a testimony to the same.
The multiplex film business is expected to increase over the weekend due to word of mouth from audiences. But the question here is: do we have enough viewers to watch the movie in the first place? If there was no audience, how would there be something called “word of mouth”. Now is the time to move on from income to dating. It’s time to cultivate the habit of bringing people back to theaters – and we Indians are always drawn to the low prices to explore and experience. Yes, a movie like Sooryavanshi, Spiderman and 83 ‘guarantees a premium price, but the others deserve to be capped at Rs 250 – 275 rupees in premium shows to attract audiences. You should also realize that the higher the attendance, the higher the chances of getting more sales at FnB counters. Falling prices leading to losses for theater owners are just a myth these days. Industry in the South is back on its feet, why? Because ticket prices are well within the reach of the public. It wasn’t the fear of the virus that kept people away from movie theaters (of course, that was one of the factors), but rather it was the fear of spending too that had an impact on the culture of the cinema. movie theater.
Now is the time to move on from income to dating. It’s time to cultivate the habit of bringing people back to theaters – and we Indians are always drawn to the low prices to explore and experience.
The pandemic has changed the spending habits of audiences, and with fierce competition from premieres on OTT, the urgency factor of watching a movie on the big screen has also taken hold. It is only a matter of months before we can watch the movie with the whole family for almost 1/10 of the amount at home. Suggested pricing for event, large, medium and low budget films during prime time shows in subways. The tariffs in the multiplexes of the level 2 centers should be even lower:
- Event films (Spiderman, 83): Rs 400 to 500
- Grands Films (Jersey): Rs 300 to 350
- Medium size movies (Chandigarh Kare Aashiqui, Antim): Rs 225 to 275
- Small Films (Bunty Aur Babli 2, Tadap): Rs 175 to 225
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