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SPI Cinemas

13°03′23″N 80°15′33″E / 13.056355°N 80.259151°E / 13.056355; 80.259151

SPI Cinemas
IndustryEntertainment
FoundedApril 1974; 50 years ago (1974-04)
Headquarters
Royapettah, Chennai
,
India
Number of locations
6
Area served
India
ParentPVR INOX Limited
Websitewww.pvrcinemas.com

SPI Cinemas was an Indian multiplex chain originally owned by the SPI Group, headquartered in Chennai, Tamil Nadu. The company was often lauded for its premium quality and inexpensive pricing.[1][2] Its theatres, primarily PVR Sathyam Cinemas at Royapettah are often used by filmmakers for film premieres and audio launch events.[3] Popcorn served at SPI Cinemas had received considerable praise from film goers and the media.[4] In August 2018, PVR Cinemas completed the acquisition of SPI Cinemas.

The group was notable for being the first multiplex operator in India to equip its screens with the Dolby Atmos and Auro 11.1 sound systems.[5][6]

History

Sathyam Cinemas was originally named the "Royal Theatre Complex" and was built by Raja from Venkatagiri in April 1974.[7][8] With a capacity of 1,255 seats, it was the largest multiplex built in Chennai at the time.[9]

Kiran Reddy, the former CEO of SPI Group, revealed in a 2012 interview with The Hindu that the Sathyam theatre complex was acquired by his family "from someone" in the 1980s. It was acquired for real estate purposes with no intention of continuing the theatre business. He claimed, "The intent was to demolish the theatre complex. The theatre wasn't a viable business if you looked at the value of the land." However, when he got involved in the business, the family had made several improvements to the theatre.[10] Reddy had taken over the business in 1999 and continued developing the theatre, adding three more screens and refurbishing the existing three.[11]

Acquisition by PVR Cinemas

After the on-and-off negotiations for years, the cinema chain was finally acquired by PVR Cinemas in August 2018.[12] In August 2019, the National Company Law Tribunal (NCLT) New Delhi-branch approved the amalgamation of SPI Cinemas into PVR Cinemas with effect from the appointed date of 17 August 2018, PVR said in the exchange filing.[13][14] With the acquisition, PVR became the largest multiplex operator in Tamil Nadu with 14 properties (including Puducherry) (as of 2018) and more in the pipeline.[15][16][17] In 2021, PVR Cinemas mentioned that is looking to expand further in South by opening more screens in South Indian cities like Bengaluru, Mysore, Chennai, Hyderabad, Coimbatore and Vizag.[18] In January 2021, PVR started the integration and rebranding of all the acquired properties in a phased manner. They also mentioned that all the future projects will be branded as PVR including the upcoming properties in the state of Tamil Nadu as well.[19][20] PVR has also launched its private movie screening experience[21] and its loyalty program 'PVR Privilege' across all the acquired properties.[22]

In February 2023, PVR merged with its rival INOX Leisure to create largest multiplex chain in India.[23] All the new properties opened after the merger with Inox will be branded as 'PVR Inox'.[24] The existing properties will continue to carry 'PVR' and 'Inox' branding respectively.[25] Before the Inox merger came into effect, PVR effectively rebranded all SPI properties except Sathyam, Escape and Palazzo as PVR Cinemas thereby getting rid of other acquired brands. Sathyam, Escape and Palazzo Cinemas were rebranded as 'PVR Sathyam', 'PVR Escape' and 'PVR Palazzo' respectively. PVR currently is in process of creating a unified rewards system in place of PVR Privilege and Inox Rewards that will be used across both PVR and Inox properties. A unified booking portal and app will also be launched soon in place of PVR and Inox websites and apps. Post the merger with Inox, with effect from 1 September 2023, the SPI iOS/Android app and website will no longer be available for booking and the customers will be redirected to www.pvrcinemas.com.[26]

Locations

State/Territory City Theatre Name Theatre Locality Number of Screens Ref.
Tamil Nadu Chennai PVR Sathyam Cinemas Royapettah 6
PVR Escape Cinemas Express Avenue Mall, Royapettah 8 [27]
PVR Cinemas Perambur Spectrum Mall, Perambur 5
PVR Cinemas Theyagaraja Old Theyagaraja Talkies, Thiruvanmiyur 2
PVR Palazzo Cinemas The Forum Vijaya Mall, Vadapalani 9 (including one IMAX) [28]
Coimbatore PVR Cinemas Brookefields Brookefields Mall, Krishnaswamy Road 6 [29]

References

  1. ^ "Hollywood praise for Sathyam Cinemas!". Behindwoods. 31 October 2012. Archived from the original on 20 June 2014. Retrieved 22 April 2014.
  2. ^ "Palazzo inaugurated". The Hindu. 15 April 2014. Archived from the original on 19 December 2021. Retrieved 19 December 2021.
  3. ^ Srinivasan, Lata (1 November 2012). "Ang Lee praises Sathyam Cinemas". The Times of India. Archived from the original on 27 March 2018. Retrieved 22 April 2014.
  4. ^ Srinivasan, Sudhir (14 May 2015). "Chennai's corny tradition". The Hindu. Archived from the original on 27 April 2017. Retrieved 23 September 2015.
  5. ^ Almeida, Aaron (5 December 2012). "Dolby launches its Dolby Atmos audio platform in India". Firstpost. Archived from the original on 1 February 2014. Retrieved 23 March 2013.
  6. ^ Mead, Bill (25 November 2013). "Technology in review: Asia embraces digital, 3D and immersive sound". Film Journal International. Archived from the original on 25 December 2013. Retrieved 8 April 2014.
  7. ^ Ramakrishnan, N. (27 December 2013). "Chennai has a big role to play". Business Line. Archived from the original on 13 April 2014. Retrieved 9 April 2014.
  8. ^ "Sathyam Cinemas Selects Qube for All Screens of Its Flagship Multiplex at Chennai, India". Business Wire. 27 June 2007. Archived from the original on 13 April 2014. Retrieved 9 April 2014.
  9. ^ Menon, Nitya (27 November 2013). "The changing scene". The Hindu. Archived from the original on 14 April 2014. Retrieved 13 April 2014.
  10. ^ Muthalaly, Shonali (23 February 2012). "Reddy Made In Chennai". The Hindu. Archived from the original on 13 April 2014. Retrieved 9 April 2014.
  11. ^ Pillai, Sreedhar (15 December 2006). "And now, the multiplex mania". The Hindu. Archived from the original on 17 December 2006.
  12. ^ "PVR completes acquisition of 71.6% stake of SPI Cinemas". The Economic Times. 17 August 2018. Archived from the original on 21 April 2021. Retrieved 15 October 2019.
  13. ^ "SPI cinemas amalgamated with PVR effective 17 August 2018" (PDF). PVR Cinemas. 23 August 2019. Archived (PDF) from the original on 5 November 2019. Retrieved 5 November 2019.
  14. ^ "SPI Cinemas Amalgamation". Business Today. 17 October 2019. Archived from the original on 5 November 2019. Retrieved 5 November 2019.
  15. ^ Kandavel, Sangeetha (23 January 2020). "PVR to open five screens at Chennai airport". The Hindu. Archived from the original on 19 December 2021. Retrieved 19 December 2021.
  16. ^ "Market of India: New landmark in North Chennai at a cost of Rs 5,500 crore". The New Indian Express. 30 January 2019. Archived from the original on 19 December 2021. Retrieved 19 December 2021.
  17. ^ "SPR City raises capital from LIC Housing for residential project". The Hindu Business Line. 25 September 2020. Archived from the original on 19 December 2021. Retrieved 19 December 2021.
  18. ^ Jha, Lata (25 January 2021). "Multiplexes on track to expand footprint in South India". Mint. Archived from the original on 19 December 2021. Retrieved 19 December 2021.
  19. ^ "PVR Le Reve Cinemas, Globus Mall, Bandra, Mumbai, Maharashtra". PVR Cinemas. Archived from the original on 5 November 2019. Retrieved 5 November 2019.
  20. ^ "PVR Haseen Cinemas, Bhiwandi, Mumbai, Maharashtra". PVR Cinemas. Archived from the original on 21 April 2021. Retrieved 7 February 2020.
  21. ^ "PVR Private Screening". spicinemas.in. Archived from the original on 19 December 2021. Retrieved 19 December 2021.
  22. ^ "PVR Privilege Loyalty Program". PVR Cinemas. Archived from the original on 17 December 2021. Retrieved 18 December 2021.
  23. ^ "PVR merges with Inox to create India's biggest multiplex chain". PVR Cinemas. Archived from the original on 9 May 2023. Retrieved 9 May 2023.
  24. ^ "PVR becomes PVR INOX as name change takes effect". PVR Cinemas. Archived from the original on 9 May 2023. Retrieved 9 May 2023.
  25. ^ "PVR-Inox merger approved by Mumbai NCLT". PVR Cinemas. Archived from the original on 9 May 2023. Retrieved 9 May 2023.
  26. ^ "SPI Cinemas website and app phased out from 1st Sept 2023". SPI Cinemas Social Media. 8 August 2023.
  27. ^ Frederick, Prince (18 June 2013). "Let the show begin". The Hindu. Archived from the original on 14 January 2013. Retrieved 7 March 2013.
  28. ^ Subramanian, Karthik (3 November 2014). "The long wait for IMAX". The Hindu. Archived from the original on 3 June 2017. Retrieved 26 July 2018.
  29. ^ Palaniappan, V. S. (6 December 2011). "The Cinema @ Brookefields opens tomorrow". The Hindu. Archived from the original on 26 July 2012. Retrieved 7 March 2013.
Quelle: https://en.wikipedia.org/wiki/SPI_Cinemas