Bollwood actor Ajay Devgn owned NY Cinemas, the multiplex chain has opened its cinema at Assam. The facility is located at Roodraksh Mall, Guwahati. The chain of multiplex was founded in 2017 with its first screen at Ratlam, Madhya Pradesh.
The launch event of NY Cinemas Guwahati was graces with a ribbon cutting ceremony by Assamese film actress Aimee Baruah and Actor/Director Kenny Basumatary. The people of Guwahati will have a new movie destination to experience their favourite 3D movies on the largest screen in Guwahati (56 ft wide) with Dolby Atmos sound quality.
Espoused by Ajay Devgn’s deep love for cinema, NY Cinemas aims to bring back the old world charm of watching movies with unique concept driven theatres. The brand’s initials take after Bollywood actress Kajol and Ajay Devgn’s children – Nyasa and Yug.
The company currently operates 19 screes in 9 cities and aims to operate 250 screens in 5 years. NY Cinemas’ presence is spread over Maharashtra, MP, UP, Rajasthan, Punjab and now in Assam.
There are an estimated 8,500 movie screens in India, dominated by the merged entity PVR-Inox, which together holds over 40% of seats. Before the pandemic broke, there were an estimated 10,000+ screens of which around 10% of them never reopened after two year rout. While many of them remain closed, some have gone up for renovation.
Due to the impact of AVoD – Advertising led Video on Demand on OTT platforms, many ardent cinema goers have shied away from frequenting cinema theatres in the past 18 months. With mobile data at throwaway prices coupled with affordable smartphones and tablet devices, a majority of movie watching audience have moved to their personalised small screens.
In 2022, films like RRR and KGF released all-India and created a massive impact, raking in over Rs. 1,000 Cr between them. Several other films in various Indian languagues, including top stars such as Akshay Kumar, Aamit Khan, Ranveer Kapoor, etc. failed at the box office, making producers shy to chase big-budget films.
In 2023, Shah Rukh Khan’s Pathaan grossed an estimated Rs. 500 Cr in Indian box office collections, providing a much needed fillip to theatre owners. However, Salman Khan’s Kisi Ka Bhai, Kisi Ka Jaan has not been able to recreate the same magic as Pathaan.
It is in these crucial period that NY Cinemas is expanding its footprint with fresh investments. What is heartening to note, is that they are treading in to tier 2/3 towns where there is hardly any competition while also elevating the movie watching experience for the audience.
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