Renowned entrepreneur and prominent figure in the media and entertainment industry, Punit Goenka, has secured a majority stake in Maverick Media. Goenka, who remains the Managing Director and CEO of ZEE Entertainment Enterprises, made this investment personally to revitalize and enhance the single-screen cinema experience for audiences nationwide. Maverick Media is backed by Vistaar Entertainment, a company active in various entertainment segments including cinema exhibition, film, television, and more. The company’s goal is to develop and improve the large screen cinema viewing experience across India.
This investment will benefit from Goenka’s sharp business insight and deep understanding of consumer content consumption patterns. It aims to unlock the potential of underserved markets by establishing single-screen theatres in tier II and tier III cities across the country. Goenka emphasized that cinema has significantly influenced the nation, celebrating and showcasing rich culture, legacy, and traditions. The big screen experience has connected Indian entertainment with the world and addressed sensitive social issues to promote societal change.
Goenka acknowledges his professional responsibilities remain a priority but believes it is the collective duty of industry members to enhance growth opportunities across all segments of the media value chain. He has taken this step personally to fulfill that responsibility. He also highlighted the vast potential for single-screen cinemas in tier II and III cities, stressing the importance of reviving this infrastructure while preserving its cultural essence.
In India’s culturally diverse market, cinema viewing extends beyond mere entertainment; it is a cherished out-of-home family experience. Theatres have been significant in driving family viewing, with weekly releases offering new opportunities to create memories and bonds. Goenka’s vision aligns perfectly with this sentiment, aiming to create economically viable opportunities for cinema operators in key growth markets across the country.