The risks for multiplex companies are increasing by the day. On Friday, Amit Agarwal, country head at Amazon India, tweeted that seven Indian movies—including Ayushmann Khurrana-starrer Gulabo Sitabo—will be premiering on its Prime Video platform.
Inox Leisure Ltd, interestingly, released a statement expressing its displeasure over bypassing the normal route of new movie releases on the big screen.
Expressing displeasure is one thing; the damage is already done. Shares of PVR Ltd and Inox Leisure Ltd touched new 52-week lows on the NSE on Friday.
They have now fallen as much as 60-62% from their highs in February. “Movies skipping their theatrical run is obviously negative, increasing the risk of more movies releasing online," said an