The rise of video streaming services in India with over 40 players offering tens of thousands of hours of content is giving enough reasons to people to avoid visits to a theatre.
However, multiplexes such as PVR Cinemas, Inox and Cinemax are rapidly expanding despite the availability of endless content to consumers through these OTT apps.
According to a report by Prabhudas Lilladher, the impact of OTTs on multiplex business is highly overplayed as screen density remains low in India despite the rapid expansion plans of the three large players in the industry.
“Low screen density (8 screens/million population), increasing content diversity (no language is more than 14 per cent of releases in 2018) and unviable single screen economics provides a fertile ground for growth in multiplexes,” the report stated.
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