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“We felt no impact of Netflix” says PVR in earnings call

"This is the question that we are faced with very often and not just in India but also globally," Kamal Gianchandani, CEO of PVR Pictures and Chief Business Planning and Strategy PVR Ltd said on the company's earnings conference call. The question: whether there has been a change in audience preferences because of the advent of Netflix and Amazon Prime Video. Gianchandani pointed towards the increase in admissions in the US, despite the dominance of Netflix in that market, saying that "...in the USA the admissions have consistently breached the 1.3 billion mark over the last five to six years. This year will be down to maybe about 1.25 billion, a drop of about 4-4.5% but that is mainly because of the cyclical nature of our business." "...Netflix, Amazon Prime, with full credit to them, have coexisted, and in fact, helped the overall increase in content consumption and overall increase in revenues that go back to the content creators. India is going to be no exception. The big difference being that most of the western entrainment markets are saturated, there is absolutely no growth in theatrical circuits. US has been 40,000 screens for the last five or six years," he added, saying "India which has been at about 8,500 and 9,000 screens, we would continue to lose single screen to dilapidated traditional screen but we continue to add multiplex screens, the good quality experiential, premium-ised, when use for being entertained. So India is a growth market." "We felt no impact of…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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