Multiplex audiences are no longer driven solely by large-scale spectacle films. Ajay Bijli, managing director of PVR Inox, told ET that a steady run of mid-budget releases has quietly reshaped the market, turning several into sleeper hits that have each crossed the Rs. 100-crore mark at the box office.

Bijli pointed out that in September quarter 12 films crossed the Rs. 100-crore mark. This, he said, signals a structural shift towards content-led performance.

In the first half of FY26, 22 films crossed the Rs. 100-crore mark, most of them mid-sized productions.

Titles such as Saiyaara, Mahavatar Narsimha, Lokah: Chapter 1 – Chandra, and Su From So drew large audiences despite modest budgets.

"The most encouraging aspect is that we no longer need big starrers. The script has become the star," he said. "People are asking for good content, and what I appreciate is that the appetite to go out and watch films remains strong. The content does not need a major star for audiences to come and watch."

Bijli highlighted the example of the Gujarati film Laalo - Krishna Sada Sahaayate. "It opened with only 17 shows. It is now playing in a thousand shows. Ultimately, the consumer decides a film's fate," he said.

The PVR Inox head stressed that exhibitors' interests are fully aligned with those of producers. "We are simply a conduit," he said, adding that the cinema exhibition industry is just another out-of-home entertainment category.

"It is similar to hotels, concerts or restaurants. It is simply another form of physical, out-of-home entertainment that comfortably coexists with what is available at home," he said.

Bijli said that while a 12-week theatrical window is preferable, the current eight-week gap still gives films adequate breathing room through wide releases and orderly monetization. Films currently release on OTT after an eight-week theatre run. He argued that cinemas and OTT platforms will continue to coexist since India is an "and market, not an or market".

"A 12-week window is certainly better than eight, but the current structure is acceptable because films still receive wide exposure across many screens. This gives them adequate breathing room for a strong theatrical run," he said.

According to him, the current window works for all stakeholders. "It is a well-balanced arrangement," he said. Bijli reiterated that streaming and cinemas are not in a zero-sum battle. India's entertainment market, he said, thrives on coexistence.