Cinépolis
announces its foray in India Cinema giant will
provide megaplex formats and world-class cinema
experience to Indian audiences
First
International Exhibitor to Enter India. Plan to open 500 screens by 2016
India|May'2009: Cinépolis, the world’s 5th largest movie theater
circuit, today announced its foray in India. Addressing the right
combination of affluence, propensity of movie-goers and population,
Cinépolis will be looking at a multi-city presence and a scale of 500
screens in the course of the next 7 years. Cinépolis currently operates
more than 2000 screens in 6 countries and serves more than 100 million
patrons annually.
The introduction of multiplexes in India has reinvigorated once again, the
culture of going out to the movies. Today, movie goers expect the
in-theater entertainment to be a holistic experience– a mission that
Cinépolis pursues wholeheartedly. Cinépolis’ competitive edge is well
established by its focus on pure play exhibition, high standards in
theater design, culture of innovation, scale of business and strength in
operations backed by its vast 38 year experience in the industry.
“We have made a substantial commitment to India and are excited at the
prospects of being in a country which is the highest producer and consumer
of filmed entertainment,” said Javier Sotomayor, Strategy Head – Cinépolis,
“We envision ourselves to be present in India for the long term and for
India to become our largest international expansion project.”
Cinépolis is the worldwide pioneer of the first luxury cinema concept-Cinépolis
VIP – that was launched in 1999. Driven by innovation, Cinépolis was also
the first to introduce novel concepts to the Latin American exhibition
industry, such as the first multiplexes in 1972, the first megaplexes in
1994, the first IMAX® screens in 2004, the first concept of Edutainment
with a six screen CinemaPark® in 2006 and the first digital 3-D screens
with Real-D® in 2008. Now, film patrons across India will have the
opportunity of watching their favorite films in the ambience of world
class facilities and backed by the highest levels of customer service.
Cinépolis has consistently proven to be a major footfall driver and a
strong anchor for the retail developments in which it participates. In
Mexico, the world’s 5th largest box office by attendance, Cinépolis
operates 22 of the top 25 theaters. In addition, with a 46% share of
screens, Cinépolis has a 56% share of the box office, underscoring the
ability to attract a disproportionately higher share of the viewership.
“As a major anchor tenant, we have a strong proposition to offer to mall
developers and are extremely pleased by their response,” said Milan Saini,
Country Head Cinépolis India. “Our differentiated customer experience will
provide the shopping malls with a larger share of the footfall that will
lead to superior mall economics for developers and contribute to the
overall long term sustainability for the mall development.”
Cinépolis has enthralled patrons the world over with megaplex formats,
stadium-seating, macro-screens and gourmet food and concession stands.
Some of its popular services include the one million member strong loyalty
program with ‘Club Cinépolis’, advanced technology enabled mobile &
internet ticketing with ‘Cineticket’, gourmet food and beverage offerings
with ‘Cinecafe’, and its internet portal that has won numerous awards as
being the industry’s best.
In India, Cinépolis will build large megaplex facilities that will feature
double digit screens per site at most of its locations. At this juncture,
Cinépolis is in active talks with some of the country’s prime real estate
developers to secure sites for its multiplexes.
Till date, Cinépolis has secured a pipeline of 110 screens across 8
cities. Operations are expected to commence by second half of 2009
Reachout's News Bureau
May' 2009
