Don’t we all love multiplexes where we can choose what movie we want to watch as well as the different types of snacks to munch on while enjoying the flick on the big screen? But now, there’s something new for all you movie buffs.
Now, you can choose from different cinema formats like an IMAX or Screen X all under one roof as Inox, the multiplex chain operator, launched on October 16 the world’s first megaplex with an investment in the range of Rs 50 to Rs 60 crore.
The megaplex offers maximum number of movie viewing formats at Inorbit Mall, Malad, in Mumbai.
Unlike a multiplex, which has multiple screens, a megaplex has different screen formats from IMAX to 4DX to many more.
The megaplex has 11 screens and is built over 60,000 sq ft with a total seating capacity of 1,586 seats and is claimed to be Mumbai’s largest multiplex.
With six experiential cinema formats, the megaplex has the capability to screen 60 shows and entertain an audience size of 6,000 guests every day.
The ticket prices at the megaplex range from Rs 150 to Rs 1,000.
On an average, a theatre has around five to six screens and same is the case with Inox, except for its property at R City Mall in Mumbai, where it has nine screens.
Talking to Moneycontrol, Alok Tandon, Chief Executive Officer at Inox Leisure Ltd, said, “We are planning megaplexes where we see there are more screens and we will have more formats over there. So, it means that we will have more megaplexes in the country and the next one is scheduled to open in Lucknow in a couple of months.”
Talking about the 11 screens, Tandon described the different formats available at the Mumbai megaplex.
One is INSIGNIA, which is INOX’s seven-star format offering luxurious movie viewing experience with leather recliners, butler-on -call, laser projection and a dining catalogue, serviced by a live kitchen.
Then there is Kiddles, a format curated for children, and has bright and vibrant seating and interiors, along with a lobby, where kids can even rejoice and celebrate.
The megaplex also has ScreenX, the world’s first multi-projection technology, offering a 270-degree panoramic viewing experience, with projection on three walls of the auditorium.
MX4D offers advanced immersive environment where viewers feel the action happening on screen from the 14 built-in motions and effects programmed in the seats and the theatre walls.
IMAX offers 40 percent larger image, a dual projection system, highest quality 3D.
Samsung Onyx LED is world’s first cinema LED technology, with 10 times brighter visuals and JBL’s surround sound.
And Dolby ATMOS’ sound and laser projection in the mainstream auditoriums complete the cinematic offering.
According to Tandon, the megaplex is also a good opportunity for the advertisers. And this is because there are five expansive lobbies. “Our lobbies are humongous. We have got 11 screens. We show about 60 shows every day, which means that advertisers can have ample amount of onscreen advertising air time. Apart from that, there are massive video walls at the entrance and the lobby,” he added.
Multiplex operators have moved on from being just content providers towards offering premium entertainment experiences. And getting newer technologies is one major part of the premium offering.
While a standard screen costs around Rs 2.5 crore to Rs 3 crore, the cost is much higher for premium formats and exhibitors are willing to invest in such technologies because of strong returns.
Not indulging in exact occupancy numbers, Tandon said Inox has witnessed one of the highest occupancies at MX4D or better occupancy at INSIGNIA compared to standard screens.
“We have seen that these formats are doing well for us. In fact, apart from Mumbai, we have opened another ScreenX in Kolkata,” said Tandon.
Times are exciting for the movie industry and the exhibition space as content offering this year has been strong leading to better occupancies in theatres. This is why film exhibitors are leaving no stone unturned to make the most of this opportunity by giving audience experiences that they cannot find in their homes.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India’s leading expert on wealth building, has created a strategy which makes it possible… in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.