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In the absence of fresh blockbusters, re-releasing old films has breathed new life into theaters, surprising the industry by not only helping exhibitors cover fixed costs but also proving that what didn't work before can succeed when the timing is right. This strategy has borne fruits and provided reasonably good business to exhibitors after a muted June 2024 quarter. Gautam Dutta, CEO, revenue & operations at PVR INOX said, "From a slightly muted response in the beginning, we have seen strong response from audiences.
Films such as Rockstar (2011), Ghilli (2004), Laila Majnu (2018) and Tumbbad (2018) generated footfalls in the range of 4-700000 and occupancy of 35-43%." He added, "In all, we have re-released 50 films across languages across our more than 1,700 screens and most films have received good response." According to Dutta, these 50 films have cumulatively generated 60,00,000 footfalls in theatres.
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Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program You Might Also Like: You can watch Stree-2, Goat, and more movies for just Rs 99 at multiplexes on September 20: Here's how He said that these footfalls are likely to grow in the coming weeks and will amount to 4% of the annual footfalls the multiplex. Ticket prices for these re-released films have been set between ₹112 and ₹149. Exhibitors say that running a multiplex screen involves significant fixed costs, including rentals, electricity, water charges, and other operating expenses.
According to the FY24 annual report of PVR Inox, fixed costs as a percentage of its total costs is 55.1%. This highlights the substantial costs multiplexes face in the absence of an attractive lineup of new movies, making the strategy of re-releasing old films a sensible approach.
Quite favorably, these re-released films have not only generated decent box office collections but also boosted food and beverage sales. According to data from multiplexes, popular titles like Ghilli (Tamil), Rockstar (Hindi), and Laila Majnu (Hindi) have brought in ₹10-50 crore since their re-release. Interestingly, trade analysts note that the 2018 film Tumbbad collected ₹18.
9 crore overall, with an opening day haul of ₹1.65 crore-surpassing the ₹1.15 crore earned by the new release The Buckingham Murders (2024) on its debut.
Devang Sampat, managing director at Cinepolis India said, "We have been engaging with audiences on social media platforms and doing online polling. Through targeted marketing through our social media platforms we select films to showcase in theatres. There is a demand for alternate content.
Whether it is sporting events or showing old films, the audience is looking for good and engaging content." You Might Also Like: Stree 2, Tumbbad & others attract 60 lakh to theatres in one day to set National Cinema Day record He added, "In 450 screens, we have a million visitors. Films such as Rockstar (2011) and Tumbbad (2018) have generated stupendous responses from the audience.
Though there is a repeat audience for these old films, a large section of the audience belongs to Generation Z who were not born when these films were released." (You can now subscribe to our Economic Times WhatsApp channel ).
