28/11/2024, 10:08:03 am

Malls may cut multiplex space as cinema-led revenues shrink

Large mall developers in India plan to reduce multiplex spaces in future projects due to declining footfall and revenue, with cinemas now generating only 6-7% of total footfall, down from 10%. Alternate entertainment forms and competition from OTT platforms have led to a shift in focus towards experiential retail and physical activity.