Cinépolis and Panorama Studios bet on theatrical

Cinépolis India and Panorama Studios have formed a distribution partnership for the Delhi and Uttar Pradesh circuit, pooling the cinema chain's exhibition footprint with the studio's distribution arm — a bet on the theatrical business at a time when streaming keeps pulling audiences home.

Under the deal, films acquired or distributed by either company will be jointly released across Delhi–UP, one of India's most important Hindi-film markets. The tie-up began with the comedy Dhamaal 4 and Baby Do Die Do, and continues with the animated Mahaprabhu Jagannath (17 July) and Hanuman Ansh (31 July). Both sides say they are exploring expansion into other territories.

The logic is regional depth. Distribution in India is a territory game, and a chain with screens and exhibitor relationships inside a circuit can, in theory, extract more from a release than a studio distributing at arm's length. Cinépolis, which states it operates 491 screens in India, giving it direct reach in the markets where these films open.

The move also signals where exhibition is placing its chips. As streaming platforms compress theatrical windows and absorb mid-budget films, chains and studios have leaned on tighter distribution alliances to protect the economics of a theatrical run — consolidating marketing and screen access within a circuit rather than spreading thin.

"By consolidating our strengths and resources, we believe we can unlock greater value for our films, our partners, and the exhibition ecosystem," said Kumar Mangat Pathak, Chairman and Managing Director of Panorama Studios.

Devang Sampat, Managing Director of Cinépolis India, framed it as building "a stronger distribution platform that benefits producers, exhibitors, and ultimately moviegoers."

For now, the alliance covers one circuit — but both companies have flagged it as the template for a wider, longer partnership if the Delhi–UP numbers hold.