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Multiplex major PVR on Wednesday said it had signed an agreement with IMAX Corporation to add five more IMAX theatres in the Indian market. Through this rollout, PVR cinemas will reach a count of 10 IMAX screens , making it the largest IMAX partner in the country
The company plans to open the new IMAX theatres in key metro cities and expects them to be operational by 2019-end.
Gautam Datta, CEO, PVR Cinemas, said this strategic agreement would add to the company’s revenue streams besides enhancing its brand proposition.
“We believe this will encourage more Indian production houses to release their content in the IMAX format. Also this will help us offer a differentiated movie-going experience to more consumers. We have already seen higher occupancy levels at our existing IMAX cinemas,” he added.
On an average, the multiplex chain charges ₹100-120 higher for tickets at IMAX screens compared to its normal screens. In addition, this will add to the company’s sponsorship revenues.
With the latest agreement, the country will have a total of 26 IMAX theatres, of which currently 11 are already open and 15 have been contracted to open.
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