Mukta Arts’ theatre chain Mukta A2 Cinemas achieves pre-covid occupancy levels across its screens

– The company added 9 screens in Q2, Q3 of FY21

MUMBAI, India, Jan. 6, 2022 /PRNewswire/ — Mukta Arts, one of India’s leading production houses with business interests across the entertainment spectrum from Exhibition to Education, is witnessing resurgence in occupancy levels across its Mukta A2 cinemas.

With a slew of blockbuster releases following the resumption of cinemas post lockdown, Mukta A2 cinemas, theatre chain operated by Mukta Arts, saw screen occupancy similar to pre-covid level. Major releases such as Sooryavanshi, Spider-Man: No Way Home, Pushpa: The Rise and 83 helped Mukta A2 screens witness occupancy levels last witnessed in November, December of 2019. This is despite the current permissible operating limit at 50% of the capacity. In the Western region, for instance, the Box Office collection at 50% operations, was equal to 100% operations in similar months of 2019. The Southern region, riding on the success of Pushpa, too, saw pre-pandemic occupancy level.

Commenting on the audiences returning to theatres, Satwik Lele, Chief Operating Officer, Mukta A2 Cinemas, said “Globally, there is no other entertainment experiences that match watching a movie in a theatre. Indian audiences have been awaiting the releases of Sooryavanshi and 83 which did not disappoint the audiences, coupled with Spider-Man doing roaring business globally, helped theatres report decent occupancy. There are a few more highly anticipated releases such as RRR, Radhe Shyam, Gangubai Kathiawadi, Shamshera, etc, which hopefully keep the momentum going, unless of course the country goes for another lockdown.”

Mukta A2 Cinemas, subsidiary of Mukta Arts added 9 screens between August and December 2021 – 2 screens Multiplex at Ropar, Punjab on 19th August 2021, 3 Screen multiplex at Raygada, Orissa on 28th October 2021, and 4 screen property at Rajyash Rise in Ahmedabad 25th November 2021. With the new launches, the screen count of Mukta A2 Cinemas stands at 75 screens, including 6 in Bahrain, and 14 screens under its JV with Asian Cinemas.

“Overall, we see exciting times ahead for Mukta Arts’ exhibition business. There may be Covid-induced lockdown in certain region to break the chain but the previous lockdowns have taught the industry about cost control and survive with minimum cash outflow,” said Rahul Puri, Managing Director, Mukta Arts Ltd.

About Mukta Arts Limited

Mukta Arts Limited is one of India’s leading production houses with business interests across the entertainment spectrum from Exhibition to Education. The company has a library of over 35 hit films and has a globally recognized brand synonymous with quality and entertainment. Mukta Arts has successfully diversified its business into other areas of the film industry. The company has a thriving Distribution and Programming business, Mukta Movies Distributors, which has offices across India and has most of the major multiplex chains as partners. The company runs its own chain of Multiplex theatres under Mukta A2 Cinemas. These cinemas operate on an innovative model and focuses on delivering quality to patrons. The company has opened Asia’s largest and best Film, Television, Animation and Media School — Whistling Woods International, that continues to create its reputation of high-quality education worldwide.

 

Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.

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