Jigra, Singham Again, Bhool Bhulaiyaa 3 drive ad spend

By Pune Media On Oct 15, 2024 62

The Indian cinema industry had a disappointing first half of 2024, but the second half is shaping up to be a major box-office success. The first half of 2024 saw a much slower audience response to cinemas; however, the Shraddha Kapoor and Rajkumar Rao starrer, Stree 2, released in August, recorded an unprecedented Rs 565 crores. Now, with Alia Bhatt’s Jigra already in theatres and highly anticipated movies like Singham Again and Bhool Bhulaiyaa 3 on the horizon, the box-office numbers are expected to soar during the festive season.

The general sentiment among industry leaders is one of optimism. Gautam Dutta, CEO of Revenue and Operations at PVR INOX, believes the 2024 festive season will outperform 2023 due to stronger consumer sentiment, a more diverse film lineup, and the growing appeal of regional and pan-India cinema. “We have a wide range of films catering to different preferences, ensuring higher occupancy rates across our properties,” says Dutta.

Ashish Kanakia, CEO of MovieMax Cinemas, echoes this outlook, citing the addition of more screens and enhanced cinema experiences as key factors. “The combination of blockbuster content and immersive experiences will drive higher footfalls, ensuring that 2024 builds on the successes of the previous year,” he adds.

As the industry recovers from the pandemic, the upcoming festive season is a crucial opportunity for cinemas to reconnect with audiences and drive growth.

Brands Flock to Cinemas; Ad Rates Expected to Stay Competitive

Brands across sectors are vying for prime advertising slots, recognising the immense visibility the festive movie lineup will offer. Industry leaders predict that this season will attract even more brands than 2023.

According to the FICCI EY 2024 report, cinema advertising generated Rs 750 crores in 2023—a 50% increase from the previous year—thanks to successful movies and limited channels for reaching affluent audiences. In-cinema advertising collections for 2024 are expected to reach Rs 850 crores.

PVR INOX has seen a surge in demand from brands in the fashion, lifestyle, auto, and entertainment sectors. “Advertising rates for major releases like Singham Again, Jigra, and Bhool Bhulaiyaa 3 are expected to be competitive, with premium slots commanding higher prices due to anticipated audience reach,” Dutta explains.

Satwik Lele, COO of Mukta A2 Cinemas, notes that FMCG, automotive, and tech brands are especially eager to capitalise on heightened consumer sentiment during the festive season. “Advertisers recognise the value of engaging with cinema audiences, who are highly attentive and receptive to messaging during a film,” says Lele. As the festive season gains momentum, brands are doubling down on their presence in theatres, creating a win-win for both cinemas and advertisers.

Re-Releases: A Revival Strategy for Audiences and Brands

To combat the slow start in 2024, cinemas strategically re-released older box-office hits to revive footfalls. These re-releases have played a pivotal role in restoring cinema-going culture and have attracted significant interest from brands.

Movies such as Dilwale Dulhania Le Jayenge and Avatar have drawn nostalgic viewers as well as new audiences. While not expected to become a permanent fixture, re-releases remain a strategic tool, especially during gaps in fresh releases or for special occasions.

“Re-releases remind audiences of the magic of watching beloved films on the big screen, helping to fill gaps in the release calendar,” Lele notes. Dutta concurs, stating that special celebrations or anniversaries often prompt the re-release of iconic films. “This strategy has proven effective, especially when paired with exclusive screenings, director’s cuts, or limited edition merchandise,” he says.