Sensex 27458.64 1.06 0%
Nifty 8341.4 -0.75 -0.01%
Cinepolis India, India’s first international film exhibitor announced that it had entered into an agreement with Mukta Movies Distributors (the distribution arm of Mukta Arts) for sourcing film content for its upcoming rollout of multiplex theaters across the country. Under the terms of the three-year agreement, Mukta Movies Distribution will source all domestic film content for Cinepolis.
Commenting on the partnership, Subhash Ghai, Chairman and Managing Director of Mukta Arts said, “We are pleased to associate with a renowned global brand like Cinepolis. With their aggressive pan-India rollout plan and their large format megaplex designs, we stand ready to support Cinepolis India for all their film programming needs with high quality and timely service.”
The tie-up also opens the opportunity of Indian movies going overseas for international distribution to the Latin and South American markets where Cinepolis has a strong presence. Cinepolis has been instrumental in developing Mexico to become the 4th largest market for Hollywood movies over the past decade, where its market share exceeds 60%.
In India, Cinepolis has announced plans to rollout 500 screens in the next seven years, most of which will be in the megaplex format. Large format megaplexes allow for more titles to be played and for titles to stay in theater for a longer first run. This offers consumers with more movie choices and producers with a superior financial payback on their film investment.
All Cinepolis theaters will feature Digital projection technology and as such would require digital prints for each film title. Digital prints provide superior viewing quality for consumers and substantial cost savings for film producers by eliminating expensive analog print costs. The first Cinepolis multiplex is scheduled to open in Amritsar in November 2009.
“Cinepolis is pleased to partner with Mukta Arts which is a premier brand in the Indian film industry”, said Milan Saini, Managing Director and Country Head, Cinepolis India.
“With its long standing and strong associations with all banners and production houses in India, Mukta Arts provides us with a key advantage in securing the wide and diverse content that we require for our national foot-print of cinemas“, he further added.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.