Did you know that Ajay’s Family used to be in trucking business before they bought Priya Cinema?

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Did you know that PVR was the multiplex chain to open in India in 1997

The foundation of PVR Cinemas was laid down when Ajay’s Bijli’s father diversified from their logistics business and bought Priya Cinemas in Delhi.​
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Priya cinemas made a name for themselves initially because they were only 1 of 2 theater chains in Delhi running Hollywood Movies.​
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The present form of PVR Cinemas was born in 1997 as a joint venture between Priya Exhibitors Private Limited and Village Roadshow Limited, an Australian entertainment company. The first multiplex, PVR Anupam, was launched in Saket, New Delhi.
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It was formed with the vision to introduce a world-class movie-going experience to Indian audiences, setting a new standard for cinema exhibition in the country.

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Unique Value Proposition brought by PVR:

1. Innovative Multiplex Concept: PVR introduced the concept of multiplexes in India, offering multiple screens within a single complex. This innovation allowed for a diverse range of films to be showcased simultaneously.
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2. Superior Customer Experience: PVR focused on enhancing the overall movie-watching experience with plush seating, high-quality sound and projection systems, and a variety of food and beverage options.
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3. Advanced Booking Systems: PVR pioneered the use of online ticket booking and computerised ticketing systems, making it convenient for customers to book their seats in advance.

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Financial Highlights

• Revenue Growth: From a modest beginning, PVR’s revenue saw exponential growth. Before the pandemic hit, PVR Cinemas reported a revenue of approximately $412 Million.
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• Expansion: PVR expanded aggressively, growing from a single multiplex to over 800 screens across 70 cities in India by Covid.
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• Profitability: Despite Covid challenges, PVR maintained healthy profit margins, with a net profit of $22.5 Million in FY 2020.

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Technology and Distribution : Two Savvy Pillars of PVR’s Success

• Strategic Acquisitions: PVR’s acquisition of Cinemax in 2012 and DT Cinemas in 2016 bolstered its market position, increasing its screen count and market share.
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• Technology Adoption: PVR continually invested in cutting-edge technology, including 4DX, IMAX, and high-definition projection systems, enhancing the viewing experience.
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• Customer Loyalty Programs: PVR’s loyalty programs, such as PVR Privilege, helped retain customers by offering exclusive benefits and discounts.
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• In 2023, PVR-INOX merger finalised, officially becoming PVR-INOX Ltd. with over 1500 screens and $158 Million in Revenue.

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5 Strategies used by PVR to scale from 1 to 1500 theatres

1. Disruption through Innovation: PVR introduced the multiplex model in India, a significant departure from the traditional single-screen theatres. This innovation offered customers a choice of movies under one roof, improving the movie-going experience.
   • Key takeaway: Innovate within your industry by identifying gaps and introducing new concepts that address unmet needs or improve customer experiences.
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2. Enhancing Customer Experience: PVR focused on enhancing the overall movie-watching experience with comfortable seating, superior sound and projection systems, and a variety of food and beverage options.
   • Key takeaway: Prioritize customer experience by investing in quality, convenience, and comfort. Understand your customers’ needs and preferences, and continuously strive to exceed their expectations.
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3. Leveraging Technological Advancements: PVR pioneered the use of online ticket booking and computerized ticketing systems in India, making it convenient for customers to book tickets in advance. Later, they adopted technologies like 4DX, IMAX, and high-definition projection systems.
   • Key takeaway: Embrace technology to streamline operations and enhance customer convenience. Stay ahead of technological trends and continuously upgrade your offerings to maintain a competitive edge.
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4. Aggressive Growth Strategy: PVR expanded aggressively by opening new multiplexes across India and acquiring competitors like Cinemax and DT Cinemas. This expansion strategy helped them gain significant market share.
   • Key takeaway: Focus on strategic growth and expansion. Identify opportunities for mergers and acquisitions to accelerate growth and consolidate market position. Ensure that expansion aligns with your core business strategy and enhances your market presence.
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5. Diversifying Offerings: PVR diversified its offerings with premium formats like Director’s Cut, Gold Class, and P[XL], catering to different customer segments and enhancing the movie-going experience.
   • Key takeaway: Diversify your product or service offerings to cater to different customer segments. Adapt to market changes and evolving customer preferences by continuously innovating and introducing new offerings.

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