“There is a section of the audience who wants to watch films in theatres. This audience wants to watch films at a ticket price which is reasonably priced. We want to cater to this audience,” said Tutu Sharma, founder, Citara Entertainment.
Sharma’s Citara multiplex chain will cater specifically to tier-II and tier-III cities. He said that the multiplex chain will offer tickets at 30-40% cheaper than the Average Ticket Price (ATP) in the exhibition industry.
This multiplex chain will start operations in Jaipur, Indore, Ujjain, Kota, Beed, and Nandgaon by the end of November 2024 with around 15 screens.
According to Sharma, the screen capacity in each of these multiplexes will be in the range of 90-110. Ticket prices in these multiplexes will be in the range of Rs 150-175. By the end of FY26, Citara Entertainment plans to increase its screen count to 150 from 15 by the end of November 2024.
Girish Johar, group content advisor, at Citara Entertainment said, “There are huge opportunities in the tier-II and tier-III cities. Cinema is part of our DNA. We want to tap into the audience which prefers an affordable moviegoing experience.”According to a study by research firm JLL India, tier-II and tier-III cities are experiencing a surge in new retail supply with 25 million square feet of retail developments expected to come on stream in the next five years. The study noted, “Retailer confidence in these cities has grown due to the influx of high-quality supply from established developers.” It added, “Premium and bridge-to-luxury brands are also venturing into these cities, driven by rising consumer aspirations and new opportunities for store openings.” According to the study, some of the retailers have also selected tier-II and tier-III cities to open their first stores in the country such as Daiso Japan at Elante Mall in Chandigarh and Charles Tyrwhitt at Palladium Ahmedabad.These facts provide strong business opportunities for the exhibition business.
In addition to affordable pricing, the multiplex chain will have other entertainment avenues which include celebrity jewellery and fashion retailing, gym and kids’ corner.
