ONE OF THE miracle stories in the aftermath of the devastating Covid-19 pandemic has been the Indian box office. It has demonstrated not only remarkable resilience in the face of other technological advancements, such as the rise of streaming services, but post-pandemic, it has come back with a vengeance. According to a report by India’s largest multiplex chain, PVR INOX, the
Indian box office has experienced a notable growth of 12%, reaching $1.5 billion in 2023 from $1.3 billion in 2019. This stands in stark contrast to substantial declines of 17% and 20%, respectively, in markets like China and the US during the same period. No wonder then that Ajay Bijli, the Managing Director of PVR INOX, is in a jubilant mood.
“It is truly heartening to see India emerge as the sole major market worldwide to surpass pre-pandemic peak box office collections in 2023,” he stated in a recent press release.
Additionally, a recent report from market intelligence firm Ormax showed that 2023 marked a historic milestone, with gross box office earnings reaching ₹12,226 crore, making it the first year when the number surpassed the ₹12,000-crore mark in India. But what worked in India’s favour? According to Tushar Dhingra, Cofounder & CEO of Dhishoom Cinemas, the answer lies in the country’s very robust film culture.
Esta historia es de la edición March 03, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 03, 2024 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
What The Future Holds For Amazon India
The E-commerce Giant Has Seen Steady Growth Since Its Entry Into India In 2013, But The Offline Piece Remains A Challenge. After Losing Out On The Future Retail Acquisition, How Does It Plan To Keep The Growth Engines Revving?
Time To Unshackle?
Young India Is Obsessed With Apps. But The Gateway To Them Is Closely Guarded By Two Tech Behemoths-google And Apple-who Control 99% Of The Market In India. Is It Time For India To Break Free From This Duopoly And Have Its Own App Store?
"Understand what drives key talent"
Novartis India is a part of the Basel, Switzerland-headquartered pharma major Novartis AG
MILLENNIALS MISSING HOME
SKY-HIGH PROPERTY PRICES, COUPLED WITH SLOW INCOME GROWTH, HAVE MADE THE DREAM OF OWNING A HOME A DISTANT ONE FOR MANY MILLENNIALS. THIS COULD LEAD TO STAGNATION IN SOCIAL MOBILITY AND POTENTIALLY DEEPEN EXISTING SOCIAL INEQUALITIES
SIGNATURE MOVE
SIGNATURE GLOBAL, A LEADER IN AFFORDABLE HOUSING, IS LOOKING TO GET BACK IN THE BLACK WITH A SHIFT IN FOCUS TO MID-SEGMENT AND PREMIUM HOUSING AFTER LOW-COST PROJECTS BECAME UNVIABLE FOR DEVELOPERS
MAKING A MARK
PHARMA MAJOR GLENMARK IS STRATEGICALLY PLOTTING ITS WAY UP, ALL BY SHIFTING ITS FOCUS TO BRANDED AND SPECIALITY MEDICINE AND ENSURING IT GETS ITS R&D RIGHT
DIGITAL DICHOTOMY
Where does one draw the line between protecting consumer interests and maintaining market freedom? Industry and experts are debating this even as the Digital Competition Bill seeks to rein in Big Tech firms in India, the world's second-largest internet market
"ChatGPT helped people understand the benefits of using AI"
Humane Inc. Co-founders Imran Chaudhri and Bethany Bongiorno on AI, their product, the company's vision, and more
ON THE FAST TRACK
THE DEDICATED FREIGHT CORRIDORS (DFC) NETWORK OF THE INDIAN RAILWAYS HAS STARTED ATTRACTING MORE FREIGHT PLAYERS. FROM CONNECTING MAJOR PORTS TO CRISS-CROSSING MULTIMODAL LOGISTICS PARKS, DFCS ARE SET TO BE A GAME CHANGER FOR FREIGHT SERVICES IN INDIA
WE HAVE A MODEL MADE IN INDIA, FOR INDIA, AND BY INDIA"
Manish Tiwary, Country Manager of Amazon India, on the opportunities in the country, digital, and more