Bollywood actor Ajay Devgn has also taken the opportunity to improve cinema penetration in smaller towns and cities through his multiplex label, NY Cinemas.
Backed by an investment of INR 600 crore, the multiple chains aims to bring back the old-world charm of watching movies with unique concept-driven theatre. They are already operational in 15 screens including Hapur, Ghazipur, Raebareli and Surendranagar and plan to bring the multiplex experience to 250 screens across India in the next 5 years.
The project would be focused on the concerns over high ticket prices and the phenomenon of multiplexes being predominantly concentrated on the larger cities. NY cinemas, while is inclined to make a pan-India presence, would be concentrated on providing the citizens of non-metros with the right multiplex experience for democratizing the cinema experience for all, said Rajeev Sharma, CEO, NY Cinemas.
Source: Ajay Devgn-led Multiplex Chain, NY Cinemas Plans to Democratize Cinema Experience