Coming Up – A Network 18 MultiPlex
Media conglomerate Network 18 is foraying into cinema screening business with plans to open a chain of theatres across India, says this article in Mint.
The group has created a separate entity ‘Starglaze’ and the entire project would be funded by the its financial arm Capital 18 and the plan is to nationally roll out multiplexes, which will have cinema screens and food courts besides other entertainment zones, with a special focus on smaller cities.
In an attempt at making entertainment more affordable, plans are on to provide a differential pricing model for different markets (think Tier I, II and III cities).
As per the recent Ficci-PriceWaterhouse Coopers (PWC) report on the Indian Entertainment industry, the filmed entertainment category, with a current size of Rs 85 billion, will be aided by the advancement of technologies like digital cinema halls to reach Rs 175 billion by 2011 with a CAGR of 16 per cent.
Given the expected slowdown, would it throw a spanner in the works?
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