The two big releases on July 21 are Oppenheimer and Barbie, where the advance bookings for the two English movies are extraordinary with expectations to cross Rs 100 crore box office collections. The first day tickets for Oppenheimer sell for as high as Rs 2,450. The ongoing quarter awaits release of other star-studded movies like Jawan, Rocky Aur Rani Ki Prem Kahani and Gadar 2.

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South Indian states like Karnataka, Kerala, Tamil Nadu have a higher movie going audience than north, west and central India. Hence, South India is about 80-90 percent closer to pre-covid levels, while other parts of the country are yet to fully recover. Quality appealing content also plays a role here in why Bollywood is unsuccessful in recovering fast.

Multiplex chain, PVR INOX on July 20 opened its 12-screen Superplex featuring the first ICE theatres format in South India at Forum Mall here in Bengaluru.

The new property has multiple cinema formats including LUXE, 4DX, P

The Superplex has a curated wall and ceiling hung artworks of legendary actors and actresses. An extensive food and beverages menu with on seat ordering for all recliners and movie/star merchandise are available at the concessions.

Moving towards a digital era with online ticket booking taking precedence, the box office has been replaced with POS podiums for self-ticketing.

Ajay Bijli, PVR-Inox in an interaction with CNBC-TV18 said the new superplex has 2,100 seats and best of technology. " This cinema is big but that doesn’t mean it is expensive, average ticket price is Rs 270". He adds that tickets will be 25 percent more expensive for newer formats like ICE and 4DX.

The merged entity plans to add 200 screens every year in India. In the light of growing video on demand services, Bijli is confident that cinemas and over the top platforms (OTT) can co-exist. "OTT stands for over the top and the debate about theatre versus OTT is also over the top", says Bijli. " Both OTT and Cinemas have a place in the sun and can co-exist".

PVR INOX shares are trading 4 percent higher at Rs 1,505 on NSE at 1:15 pm on July 21.