Multiplexes Live To Fight Another Day, Says ICICI Securities
ICICI Securities Report
Multiplexes are beneficiaries of rising income levels and spend on entertainment and family outing. They have evolved from being just movie theatres to that plus restaurants.
Investors are concerned about the rise of streaming apps and direct digital releases of movies, we think India market is different and digital does not impact multiplex prospects.
In fact, Covid-19 could turn into a blessing in disguise for strong theatre chains that benefit from consolidation and rise in occupancy on normalisation.
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