Brands
PVR expands into South India with second multiplex in Chennai
MUMBAI: PVR Cinemas has expanded its presence in South India by launching its second multiple property in Chennai.
The five-screen multiplex is at The Grand Mall, Velachery in Chennai. The company’s first multiple in Chennai is at the Ampa Mall.
With this, PVR now has a a screen count of 482 screens at 108 properties pan India across 44 cities. In southern India, PVR now has 110 screens in 17 properties.
The newly launched property in the region is spread over an area of 50,000 sq ft with a capacity of 1275 seats.
PVR Cinema CEO Gautam Dutta said, “We have received an overwhelming response from the audience here and we ore even more enthusiastic to launch our second multiplex in Chennai. South is on essential market and we have made constant endeavours to reach out to the movie lovers in the city. We have left no stones unturned to bring them an experience filled with convenience, comfort and the best cinematic experience.”
The opening of this multiplex has been designed understanding the market and every other aspect of cinema viewing in Chennai. The artwork in the foyer is a collage of iconic conversations from movies that defined trends in Kollywood; it is a tribute to Tamil cinema.
The cinema also boasts of 2K Christie Digital projection, Dolby Digital 7.1 surround sound, 3D enabled screens and state-of-the-art technology.
PVR joint managing director Sanjeev Kumar Bijli added, “As we aim to excel in our domain by providing movie connoisseurs with a premier experience, we feel pleased to launch our second property in Chennai. We would like to thank the mall developer, PSR Associates for giving us the perfect location which is strategically positioned and stands as one of the most prominent hubs attracting huge footfalls. We are very hopeful to receive a similar positive response from the audience here for our second multiplex as well.”
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
