Karnataka Caps Movie Tickets At Rs 200, Announces OTT Platform For Kannada Films; PVR Inox Shares Decline

Karnataka Chief Minister Siddaramaiah said on Friday that the state will cap movie ticket prices at Rs 200 across all theatres and multiplexes in the state, in a move to make cinema more affordable for audiences.

This limit applies to all films, regardless of language, shown in multiplexes within Karnataka. The sudden move has surprised film producers, who typically push for higher ticket prices before the release of major films.

In his 16th budget, Karnataka Chief Minister Siddaramaiah announced measures to promote Kannada cinema, including officially recognizing it as an industry. This designation ensures that the cinema sector will now receive the same benefits as other industries under the Karnataka Industrial Policy.

The move sent PVR Inox Ltd.'s shares sliding by more than 2% as the company has more than 215 screens in Karnataka, accounting for more than 12% of the company's total screens.

Siddaramaiah also announced Karnataka will create an OTT platform to promote Kannada movies during his state Budget speech, addressing concerns raised by leading Kannada actor-producers like Rakshit Shetty and Rishab Shetty, who have struggled to secure major OTT releases for their content.

The government has allocated Rs 3 crore for a repository of Kannada films in both digital and non-digital formats, to preserve movies depicting social, historical and cultural values of the state.

A multiplex movie theatre complex will also be developed under Public Private Partnership in 2.5-acre land owned by the Karnataka Film Academy in Nandini Layout in the city, the CM said.

Also, for developing an International level Film City in Mysuru at a cost of Rs 500 crore in PPP model, 150 acre land has been transferred to the Department of Information and Public relations, Siddaramaiah said.

(With inputs from PTI)