PVR Pictures expects its film distribution revenues to get back to the pre-Covid levels by the end of next financial year, with a large number of States allowing theatres to operate at 100 per cent capacity. The company, which is the distribution arm of PVR Ltd, said that it has a strong content pipeline for the year.
Kamal Gianchandani, CEO, PVR Pictures, said the company will be distributing 15 foreign language films, six Hindi films and seven regional films in languages like Tamil and Telugu in 2021. “We expect distribution revenues to get back to levels we saw in FY 2019-20 by the end of the FY 2021-22,” he added.
As part of the line-up, it will be distributing international films such as The Father , The Mauritanian,Minari , Breaking News in Yuba County , The Courier and Six Minutes to Midnight, among others, in this year.
“PVR Pictures has been one of the largest foreign language movie distributors in India. Once the cinemas were given the nod to open in October, we have been releasing films to ensure a steady supply of content at our theatres. Some of these films have now even got nominations at the Golden Globe and Screen Guild Awards. PVR Pictures 2021 slate has been created as a strategic response to the impact of the ongoing global pandemic,” Gianchandani said.
The company’s strategic bet on international films also comes at a time when the share of Hollywood films to the Indian box office has been steadily growing in the past few years.
In terms of Hindi films, PVR Pictures will be distributing big-budget flicks such as Sooryavanshi and 83 in select Indian territories. With cinemas getting the nod to open at 100 per cent occupancy in many States, cinema chains now expect producers to begin announcing their release schedule. see a strong content line-up to get their business back on track.
“We believe there is a strong pent-up demand among consumers to watch movies on the big screen. We expect to see many key announcements on film content release by the end of February. We anticipate, in terms of occupancy, the industry will get back to pre-Covid levels sooner than expected,” Gianchandani added.