Aiming To ‘Transform’ You

The Covid-19 pandemic undeniably altered the entertainment landscape, and indeed the experiential economy ecosystem.

With cinemas shuttered and streaming services reigning supreme, it seemed like the days of the multiplex were numbered. However, in a remarkable twist, multiplexes are not only making a comeback but are thriving, proving their enduring relevance in a world saturated with home entertainment options.

The same would hold true, for instance, for gala weddings, each celebrity wedding bigger, more extravagant, yet more personalised.

The Cinematic Experience

Talking about the cinematic experience, as we weathered the storm, a truth became evident: the cinematic experience was irreplaceable.

The communal atmosphere of a movie theatre, the immersive visuals, the thunderous sound, and the collective gasps and laughter of the audience—these elements form an intrinsic part of what makes cinema special.

Multiplexes have recognized the importance of technology in reclaiming their status. They have invested heavily in state-of-the-art projection systems, sound technology, and even innovations like IMAX and 4D experiences. This technological edge gives moviegoers a reason to venture out of their homes for an unparalleled visual and auditory spectacle.

Luxury & Comfort Factor

The modern multiplex is not just about the movie; it's an experience in itself. Luxurious, reclining seats, gourmet dining options, and elegant interiors have transformed multiplexes into entertainment hubs that pamper the audience. Going to the movies has become an indulgence, a respite from the ordinary.

Multiplexes have expanded their horizons beyond just showcasing mainstream blockbusters. They've embraced diversity and inclusivity by offering a platform to independent films, international cinema, and niche genres. This shift has broadened the cinematic palate of audiences, offering a more eclectic and culturally rich menu of choices.

A Night Out for All Ages

Multiplexes have rebranded themselves as the ultimate destination for a night out. Beyond movies, they offer arcades, bowling, and even live events. Families, couples, and friends see multiplex outings as more than just watching a film; they're an all-encompassing entertainment experience that caters to all age groups.

The Appeal of Blockbusters

While streaming platforms can provide a plethora of content, they can't replicate the buzz and excitement that surrounds a blockbuster movie's release. The thrill of being among the first to witness a cinematic phenomenon on the big screen is an experience that streaming services can't offer.

So, whether it’s the extravagant, yet personalised wedding, or a night out in a multiplex on a weekend, it’s the “experience” that drives the consumer, yes, the economy as well. The “experience economy” or the “experiential economy” as we call it in India is driving businesses, forcing organisations to adapt, and making sure that the consumer indeed is the king.

Little wonder then that increasingly, organisations are appointing “chief experience officers”.

The progression to the “experience economy” has not entirely been unexpected. The agrarian economy led to the industrial economy which in turn led to the services led economy. It eventually gave rise to the experiential economy.

It was over two decades ago that Joseph Pine II and James H Gilmore came up with the expression “the experience economy”.

It triggered a revolution of sorts.

Businesses were transformed and they changed, once and for all, on how they perceived themselves

Pine and Gilmore argued that the idea of “mass market” was then dead. The future of businesses, they argued, was all about “customisation” and “personalisation”.

The immersive experience of the experiential economy aimed at an individual’s “total transformation” – with the connected digital ecosystem being an enabler.

Goods were now perceived in the nature of services. And, services were perceived as “experiences”. This was at the genesis of the “experience economy.” In India, it came to be known more commonly as the “experiential economy”.

It was argued that corporations would grow and expand their businesses via “experiences” Chief experience officers were, in fact, also in part, chief growth officers.

According to the classic “The Experience Economy: Work Is Theatre & Every Business A Stage,” the employees while interacting with customers, in multiple settings, “need to perform”. So, employees of new-age corporations, who are in interaction with customers all the time, need to “perform suitably”.

When experiences are customised and tailor-made for an individual in a particular setting, “transformation” is what is expected. The experience economy thus aims at “transformation” of the consumer.

Joseph Pine II has been quoted as saying: “When you customise an experience and stage experiences so appropriate and tailored to this particular person, you cannot help but create a life-transforming experience that changes us in some way.”