The largest multiplex chain operator PVR Cinemas has launches the theater on demand service Vkaoo with 100 screens by next year all over the country
PVR cinemas Joint managing director Sanjeev Kumar Bijli said “we are going to add 30 screens by the end of this year and 70-80 screens by next year. Half of the screens will come in existing cities where we operate our screens and half of the screens in new cities.”
At present PVR is operating 562 screens in 122 properties in 48 cities across the country. Today they have announced the launch of a crowdsourced theater on demand service ‘Vkaao’ across the country.
PVR Pictures CEO Kamal Gianchandani said “Vkaao means an online platform which provides facility to customers to watch any movie of their choice at the theater they chose. This Vkaao gives the option to the customers to chose what they want to watch and when and where.”
He also said this Vkaao is the part of PVR pictures which will initially begin service with 500 film titles across different languages and genres. The minimum requirement for a show to confirm about 50 seats.
At present they are looking to add 1000 titles within 3 months and planning to increase up to 2500 film titles by the end of this year.
A private equity player Warburg Pincus acquired around 14 per cent stake in PVR for about Rs 820 crore. In that 9 percent stake affiliates of private equity firm Multiples and 5 percent from promoters of PVR.
Media asked about funds for rising to support its expansion plans. Sanjeev Kumar Bijli answered the fund expansion will be done from internal accruals.
So soon we can enjoy the PVR movies at every point of the country on demand service