PVR INOX plans to make 'Movie Re-Release' a fundamental part of its business model

Sohum Shah, an actor-producer, revealed on Instagram earlier this month that he will re-release his folkloric horror film Tumbbad from 2018. It grabbed cinephiles' interest and triggered an extraordinary frenzy, cementing the film's cult status. Tumbbad grossed around Rs 7 crore at the box office just three days after its re-release.

The film, which features magnificent cinematography and an unforgettable background score, depicts a greedy rural boy's pursuit of a cursed ancestral wealth guarded by the demonic spirit 'Hastar'. Interestingly, it had a lackluster reception upon its premiere six years ago, grossing only Rs 13.5 crore.

Tumbbad's fantastic opening on re-release is a breath of fresh air for Indian cinemas, who are struggling to fill seats due to low demand for new movies.

According to Ormax Media, the total box office collection from January to August 2024 was Rs 6,868 crore, a 7.5% reduction from the same period previous year. Tumbbad's success has inspired filmmakers to plan other re-releases this year. Apart from Tumbaad, other films that have contributed to this trend include Laila Majnu, a 2018 love drama, and Ranbir Kapoor's 2011 musical extravaganza Rockstar.

"We've re-released around 47 movies between April 2024 and August 2024," Niharika Bijli, head strategist at PVR INOX, told Business Standard. "While the average occupancy for regular films from April to August is 25%, re-releases have a higher average occupancy of 31%." "This reflects a strong demand for audiences of various ages," she noted. Based on the recent re-release success of Imtiaz Ali's films, Zoya Akhtar's films, and Tumbbad, she stated that PVR INOX now intends to make re-releases a major part of their programming. "There is a lack of demand for new films, which means that there are a lot more theatres available for these old films being re-released," said Rahul Puri, managing director of Mukta A2 Cinemas.

"Historically, re-releases of fan favourites and masterpieces such as Sholay, Deewar, and Mughal-E-Azam have always been successful. Recent re-releases like as Tumbbad, Laila Majnu, and Rockstar have re-energized this trend," said Ashish Saksena, COO - Cinemas at BookMyShow.

"These films continue to appeal to audiences because they portray timeless storylines that span generations. With strategic marketing and strong digital promotions, these films are now reaching an even larger audience, capitalizing on the growing demand for nostalgia while remaining relevant, to the point where the renewed interest in Tumbbad has helped producers announce a sequel as a result of its Box Office performance," Saksena added.

According to Amit Sharma, managing director of Miraj Entertainment, films such as Yeh Jawaani Hai Deewani, Gangs of Wasseypur, Rehna Hai Dere Dil Mein, and Jab We Met are being released to appeal to Gen Z consumers who have not had the opportunity to see them on a wider screen. "After Diwali, I don't see the practice of re-releases continuing. We won't have that window to re-release films because of the types of films that are set to be released," Sharma explained.

He mentioned that there are fewer new material releases in Hindi and Telugu, which means there are more re-releases in these languages. The space for re-releases in Tamil and Malayalam box offices is limited because their collections have stayed consistent.

"The pricing for such re-released movies is discounted by 30-50 percent as compared to the new release of the film," he told me. This weekend, PVR INOX, India's largest cinema exhibition firm with 1,745 screens, will host two film festivals including re-releases of Akkineni Nageswara Rao and Kareena Kapoor Khan's films.

PVR INOX has organized over 20 film festivals since Covid, with re-releases in 10-50 cities depending on the film's size and popularity. Mumbai, Delhi, Pune, and Bengaluru, for example, are high-demand cities. As things stand, PVR INOX is planning a horror-themed film festival around Halloween.