PVR Cinemas Introduces Theatre-on-Demand

2019 ias preliminary exam test series

Multiplex chain operator PVR launched theatre-on-demand service ‘Vkaao’.

PVR operates 562 screens in 122 properties in 48 cities in India.

Vkaao is an online platform that enables consumers to watch any movie of their choice at a theatre of their choice.

Vkaao is very disruptive and gives control to customers to choose what they want to watch, when and where.

PVR plans to add 100 screens by the end of next fiscal across the country.

Vkaao, a part of PVR Pictures, will initially begin service with 500 film titles across different languages and genres.

Minimum requirement for a show to be confirmed would be 50 seats.

Recently, private equity player Warburg Pincus acquired about 14% stake in PVR for about Rs. 820 crore.

Warburg Pincus acquired 9% stake affiliates of private equity firm Multiples and 5% from promoters of PVR.

Current Affairs for IAS Exam