Classic Screens to Dominate India Multiplex Market through 2024

Rising trend of watching movies for a family outing coupled with growing demand for convenience and privacy in cinemas to drive India multiplex market through 2024

According to TechSci Research report, “India Multiplex Market By Screen Type, By Region, By Major States, Competition, Forecast & Opportunities, 2014 – 2024”, India multiplex market is projected to grow at a CAGR of over 7% during 2019-2024. The growth of India multiplex market can be attributed to rapid urbanization coupled with rising trend of dual household income across the country and hence increasing disposable income which is favoring the shift in preferences of people, especially of young generation who are increasingly opting to watch movies in multiplexes than single screen cinemas due to the quality of service offered at multiplex.

In terms of region, West India dominated India multiplex market with 45% of market share in 2018. This region consists of states like Maharashtra and Gujarat where inclination towards luxurious lifestyle and convenience is high. Maharashtra, Gujarat, Karnataka and Uttar Pradesh are the states holding major share in India multiplex market on account of large consumer base and high urban population share with comparatively higher purchasing power of people. Some of the leading companies operating in India multiplex market are PVR Cinemas, INOX Leisure Limited, Carnival Cinemas, Cinepolis India Pvt. Ltd. and SRS Cinemas.

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On the basis of screen type, India multiplex market has been categorized into Classic and Premium. Classic screens dominate India multiplex market and are expected to maintain their dominance during the forecast period as well on account of lower ticket prices of these screens that fit well in the budget of middle-class income group which dominates India’s population.

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“With discretionary spending of consumers gradually rising, especially in tier-I and tier-II cities, preference of multiplexes over single-screen cinemas is also witnessing an increase. Parking facilities, superior interiors, comfort and availability of several options at the food court are some of the major factors driving the growth of multiplexes across the country. Also, with rising inclination towards Hollywood movies and screening of the same in 3D, 4DX formats is further pushing the market for multiplexes in India.” said Mr. Karan Chechi Research Director with TechSci Research, a research based global management consulting firm.

“India Multiplex Market By Category, By Occupancy Type, By Size, Competition, Forecast & Opportunities, 2014 – 2024” has evaluated the future growth potential of Indian multiplex market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India multiplex market.

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