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INOX Leisure Ltd updates on Jio's proposal

Posted On: 2019-08-13 10:48:32

We note from various media reports, that one of India's largest telecom enterprises, have announced that they intend to launch, by mid-2020, a service that would include, making available movies for viewing at home, on the same day these movies are released in cinema theatres. While it is difficult to react based on the insufficient details available, given the wide coverage given to this announcement, and some queries we have received on the subject, we thought it would be appropriate to share our initial thoughts on the subject immediately. A more comprehensive reaction would perhaps require further details of the service being proposed.

The theatrical exhibition industry, led primarily by the multiplex industry, has made significant investments in world class cinema theatres, by bringing in state of the art technology, luxurious ambience, bespoke comfort and unmatched service, ultimately curating an experience which can never be matched by watching movies on television screens at home. We strongly believe that Indian movie watchers' love for cinema on giant screens is deep rooted and unshakeable, and this has kept, and will continue to keep, the industry alive and thriving for the past several decades, and for several decades to come.

We would also like to point out that producers, distributors and multiplex owners in India have mutually agreed to an exclusive theatrical window of 8 weeks, between the theatrical release of a movie, and release on any other platform. This exclusive theatrical window is a model that is followed internationally, in order to ensure the robust financial viability of all the segments of the sector, and has been replicated in India.

The producer of the film is the owner of the creative content and is therefore entitled to choose the platform for distribution and consumption of his content. However, in view of this mutually agreed exclusive theatrical window, he would have to choose between theatrical exhibition or release on any other platform, since release on both simultaneously would breach the mutually agreed exclusive theatrical window.

Shares of INOX LEISURE LTD. was last trading in BSE at Rs.300.75 as compared to the previous close of Rs. 289.25. The total number of shares traded during the day was 9447 in over 1032 trades.

The stock hit an intraday high of Rs. 304.15 and intraday low of 288.8. The net turnover during the day was Rs. 2815777.


Source: Equity Bulls

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