Category Archives: Daily News Roundup

Daily Cinema Digest – Thursday 31 July 2014

Inox Sathyam

India’s No. 2 cinema chain Inox is acquiring its smaller rival Sathyam for INR 1.82 billion (USD $30m), in a deal that harbingers further multiplex consolidation. Understandably there is a lot of coverage in Indian media, but by far the best article on the subject is Patrick Frater in Variety; once again the gold standard of media-related journalism. His take is that it points to structural weaknesses in a market where growth through acquisition is the only option when organic growth is proving hard to achieve.

The exhibition scene in India is a complicated one. While most analysts suggest that the country is fundamentally under-screened, which deprives the industry of theatrical revenue, consolidation is proving easier to achieve than organic growth.

Land ownership issues and limitations on the modernization of the retail sector have severely crimped new cinema construction and most companies’ forecasts of growth have proved wildly optimistic.

The majority of cinemas in India remain privately-held single screeners, but they have a slowly declining economic importance. Multiplexes currently account for only 25% of cinema screens, but some estimates say that they account for 70% of gross revenue. (Absolute numbers of tickets sold appears to be declining in India, but ticket prices in multiplexes are significantly higher than that in smaller complexes.) That in turn gives an incentive for well capitalized companies to pursue a multiplex growth strategy – albeit one driven by acquisitions.  LINK

Yet the news led to a rally in Inox shares and more acquisition could be ahead. Expect an announcement on Big Cinemas in August.

Investors are aggressively buying shares of Inox Leisure as it is strengthening its position in North India by acquisition. The stock soared 7.5 percent intraday on Thursday after it announced to acquire Satyam Cineplexes for Rs 182 crore. Post the proposed acquisition, Inox will be present in 50 cities with 91 multiplexes and 358 screens…

Deepak Asher, Director, Inox group said, “It has been our strategy to expand our multiplex business both organically and inorganically over the years. With this acquisition, we will strength en our position further in the industry as well as in the country, especially North India.”  LINK

PVR Cinema

India – PVR may have lost out in the battle for Sathyam (if there was a battle), but the company that defined multiplexes in India is not resting on its laurels. PVR Group President Pramod Arora has been criss-crossing the world to seek inspiration for the company’s Superplexes. An article that is worth reading in full, not least as it lifts the lid and provides a great level of detail about PVR’s plans. Did you know, for example, that PVR’s mobile app uses predictive intelligence? A treasure trove of information.

“As plans for the Superplex were drawn, I visited every cinema hall in every part of the world to experience the best practices that we can pick up. At the end I realized cinema industry may not be the correct industry to look at. By looking at the cinema industry we realized that either we were ahead of what others were doing or at par with what they were doing,” says Arora.

Arora turned elsewhere for insights. “In terms of benchmark we decided to compare ourselves to the hospitality industry and also looked at companies like Apple. People say there are no similarities between Apple and the cinema industry but there are immense commonalities.

Arora says the trick lies in making sure the consumer is deriving satisfaction from the product you are selling in the minimum possible time and how a company is able to retain the consumer, once he is serviced, for the maximum possible time. “In this minimum and maximum lies your ability to monetize and this is what we are trying to master. For us it was picking up the thread from various industries across the globe,” says Arora.  LINK

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Daily Cinema Digest – Wednesday 30 July 2014

 

ADA headline

Guidelines have now been published for what American cinema need to do to comply with disabilities and access regulation, or, ‘Notice of Proposed Rulemaking Under Title III of the ADA to Require Movie Theaters to Provide Closed Movie Captioning and Audio Description’. This is a major hot potato and anyone with an interest in the exhibition industry in North America needs to pay close attention. [Thank you to MKPE for flagging up this one.]

The Department is proposing to provide a consistent nationwide standard for movie theaters to exhibit movies with closed movie captioning and audio description for all showings of movies that are available with closed movie captioning or audio description. This proposed rule would impose no independent obligation on movie theaters to add captions or audio description to movies that are not already available with those features.

Title III of the ADA requires movie theaters and other public accommodations to provide effective communication through the use of auxiliary aids and services. This rulemaking specifies requirements that movie theaters will need to meet in order to satisfy their effective communication obligations to persons with hearing and vision disabilities.  LINK

Wang Jianglin, chairman and founder of Dalian Wanda Group

China – What was the real reason for Wanda’s Chinese IPO being ‘aborted’ at the last minute? I have heard some interesting theories that point to specific motives, while eastmoney.com weighs in with interesting analysis and numbers. It is worth reading the article in full to understand the cinema situation in China and Wanda’s role.

According to previously disclosed in the prospectus, Wanda Cinema plans to issue no more than 6000 million shares, to raise funds to 2 billion yuan. Of which 1.6 billion yuan will be used for the construction of a new round of theater. According to the plan, 2014 Wanda Cinema will open 40 new multiplexes, and operating income of 4.83 billion yuan. If successful listing, in addition to capital good, will get “domestic theaters first unit,” the name of the head.

The main reason was listed Wanda Cinema “Abort” is not timely updated application materials. A source close to Wanda senior analyst said: “Such a small ‘mistake’ may indicate Wanda Cinema has re-listed strategic planning, it is possible to consider changes in the overseas market.”

Several other “cinema first unit” of potential contenders, this has been “suspended”, including the shadow of the shares, Jin Yi Film. Wanda and the two are old rivals. 2013 three cinemas respectively 14.52%, 8.65%, 7.08% market share ranked first, second and sixth.  LINK

Metro cinema Mumbai

India – Apparently there is a race on who will take over Reliance ADAG’s BIG Cinemas. It has some crown jewel properties (like Metro above) but was also dragged down by some single and double screens that were far less profitable, so expect there to be fierce negotiating taking place. Notice that Inox and PVR are not mentioned in the article. They are presumably less keen/desperate.

Mumbai’s Carnival Cinemas, Malaysian private equity fund Navis Capital and Delhi’s Satyam Cineplex have joined the race to merge with Reliance MediaWorks’ film exhibition brand, Big Cinemas. Business Standard had reported earlier this month Big Cinemas, which operates 280 film screens across the country, was in talks with rivals PVR Ltd and Inox Leisure for a merger into one mutliplex chain in which Reliance MediaWorks would have a minority stake. The strategy is part of the Anil Ambani company’s plan to exit non-core businesses and reduce debt. After the merger, the film exhibition business will be handled by Reliance MediaWorks’ partner. Carnival Cinemas recently acquired HDIL’s multiplex chain, Broadway Cinemas, for Rs 110 crore.  LINK

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Daily Cinema Digest – Tuesday 29 July 2014

BTTF tickets Secret Cinema

The cancellation of the opening week of Secret Cinema’s ambitious Back to the Future event has spilled over from the trades into mainstream press. Though not the first cancellation (both Brazil and its Australian opening were delayed) this is bigger and potentially much more damaging given the social media backlash. Buzzfeed was not impressed. The organisers continue to be silent on the exact causes of the cancellation/delay.

Doubtless there are thousands of disappointed Back To The Future fans who are wishing the creators of Secret Cinema would get in their on-set DeLorean and travel back to the point before they cancelled their first week of shows.

But for founder Fabien Riggall, the “very complicated myriad series of challenges” that led to his decision have not only been obstructive, but they have left him “heartbroken” in knowing he has let his audience down.

Mr Riggall has remained tight-lipped on the exact reasons behind the decision to cancel first Thursday’s, and then Friday’s show, which he says is for the benefit of the near 65,000 still due to attend throughout August, as the “challenges” are directly related to the material and performances that people have paid £53 each to see.  LINK

British consumer advocate publication/website Which? has even weighed in on the matter:

A Which? spokesperson said: “As a minimum consumers are entitled to a full refund of the face value of the ticket if an event is cancelled or rescheduled.

“However consumers may also be able to claim for additional reasonable losses if the cancellations were avoidable, so Secret Cinema need to explain what the issues are and make sure consumers are not unfairly left out of pocket.  LINK

Here is a background article by a journalist who was given a tour of the set prior to the opening night/week cancellation.

Event Cinema

Hele mirren The Audience Queen

UK – Event Cinema is making a notable contribution to theatre earnings, according to the recently published BFI report, generating GBP £7.2 million from just 14 shows for National Theatre Live. It has quickly overtaken opera as the most revenue generating event cinema genre.

The data, which is included in the British Film Institute’s Statistical Yearbook, shows that the takings from live theatre screenings represented the largest share of the £18.3 million of total box office takings from 111 events that were screened during the year. These include opera performances, comedy and concerts…

The BFI report noted that opera has proved consistently popular, with 44 screened last year, generating £4.8 million from a select number of participating cinemas.

Ballet took £2.1 million, classical music £900,000, popular music £500,000 and comedy £100,000. The other two non-theatrical categories were film documentaries, which generated £2.2 million, and museum exhibitions, which took £900,000.  LINK

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Daily Cinema Digest – Friday 25 July 2014

Transformers Imax or 4K

Much has been made of the success of Transformers 4 in China (biggest hit of all time, etc. etc.). But at the risk of coming across all Cassandra, it should be noted that before Transformers 4 and the local hit Tiny Times 3 lit up the mainland box office, the outlook for China’s cinemas was no less glum than the malaise currently gripping the US. Here is what local media had been saying.

While China has experienced several years of high growth, the local cinema industry is facing multiple challenges: the increasing number of cinema, opened more and more concentrated, higher rent, buy shock …… by Chongqing Municipal Cultural Commission (“City Culture Committee”) Recently released in May 2014 theater box office statistics show that the local movie theater in the top 15, most of the cinema box office fell. Daily Reporter each month according to statistics released by the city of Culture Committee found that from January to May, ranking in the top 15 local cinemas, more than half the theater box office fell.

Yesterday Commercial Daily reporter in an interview that, in the case of the city’s theater box office in recent years of steady growth, the major theater theater district has noticed too dense, the rapid growth of the number of the main city theater box office year downward trend, not little theater began adjusting their development plans.  LINK

So over-development is starting to take its toll as noted by the operators of cinemas in the city.

A staff member of Studio City, Metro Plaza, 6th Floor Studios, told Business Daily reporter: “non-weekend day there are more than 200 seats in a movie, only to sell more than 20 tickets, attendance is less than 10%. night is better, but only sold about half. ”

Chongqing, in the end how many cinema? Chinese Commercial News reporters Zuo Ricong and Shi Wenwei Film Department learned that in 2012 the city’s total operating operating theater 85, 2013 rose to 104, as of May of this year has reached 108, which accounted for half of the main city.

Other cities in China are reported the same type of problems.

“At present, most theater Shenyang are losing money.” Person in charge of a theater box office in Shenyang in 2013, said the top five.

Theater insiders, at the cost of the theater, the largest part of the rent, some of the theater’s annual rent of up to five or six million good location, in addition to annual labor costs have more than 100 million, utilities and other expenses are added together, so that up to 7000000, “a movie ticket average fares 31 yuan, can only make a few dollars.”

Reporters Statistics found that the top five of Shenyang theater attendance is not higher than 30%.  LINK

Fortunately Transformers 4 and Tine Times 3 have helped. But they have not altered the underlying problems of over-supply, high rents and low attendance.

YouTube Preview Image

Ireland (Republic) – Box office is in ruddy good health in Ireland, thanks to cross dressing comedian Brendan O’Carrolls’ Mrs Browns Boys D’Movie, which took over a million euros in its opening weekend in the republic. It is second only this year to The Lego Movie and with €3.2 million set to overtake the brick film’s €3.3 million shortly and also become the biggest grossing Irish film of all time.

But the success of comedies ‘Mrs Brown’s Boys’ and ’22 Jump Street’ left the Irish scene looking far healthier with summer figures up 3.8pc on last year.

The total for the year is also looking good with attendance figures up 2.6pc on last year.

Rentrak EDI, the company that gathers box office figures worldwide, said the strong Irish showing should continue through the rest of the year as a lot of big titles were held back to avoid clashing with the FIFA World Cup.  LINK

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Daily Cinema Digest – Thursday 24 July 2014

Sex Tape header

The summer isn’t over but already it seems that last rites and post-mortem are being performed on what has been a disappointing box office season, at least in the US. Thank goodness there is China and other emerging markets to cheer up Hollywood, though this is cold comfort for US-based exhibitors. Apparently its men’s fault for staying away in droves.

Less than six weeks before Labor Day, hopes for recovery at the North American summer box office have evaporated. The season is expected to finish down 15 to 20 percent compared with 2013, the worst year-over-year decline in three decades, and revenue will struggle to crack $4 billion, which hasn’t happened in eight years. As a result, analysts predict that the full year is facing a deficit of 4 to 5 percent.

And

Although there have been no Lone Ranger-size debacles, for the first time since 2001 no summer pic will cross $300 million domestically (X-Men: Days of Future Past, Maleficent and Transformers: Age of Extinction hover near $230 million). May kicked off with The Amazing Spider-Man 2 earning $200 million less domestically than 2013′s Iron Man 3; by July 20, the divide had swelled to nearly $690 million as revenue topped out at $2.71 billion, down 20 percent compared with the same period last year.  LINK

Could it be partly because US ticket prices are up compared to Q1 this year (but down compared to Q4’13)?

The average cost of going to the cinema in the U.S. rose to $8.33 in the second quarter of 2014 as the summer season kicked into high gear, according to the National Association of Theater Owners.

That’s up from $7.96 in the first quarter of the year, when there were fewer 3D tentpoles.
However, it was notably down from the second quarter of 2013, when the average movie ticket price clocked in at $8.38 (the reason for the year-over-year decline could include fewer 3D tickets being bought overall as the appetite for the format wanes).  LINK

 Screen Australia chief executive Graeme Mason

Australia - Federal budget cuts means that Screen Australia has to cut staff by one-tenth and decrease funding for cinema-related projects.

Chief executive Graeme Mason has announced plans to save more than $5 million this financial year, including up to $3 million in development and production investment and another $1 million by cutting staff from 112 to 100.

Faced with a $38 million cut over four years in the May budget, Screen Australia will also reduce what it spends to help a film’s cinema release – so-called ”print and advertising” support – and end direct funding of such industry training organisations as Sydney’s Metro Screen, Melbourne’s Open Channel and Adelaide’s Media Resource Centre.  LINK

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Daily Cinema Digest – Wednesday 23 July 2014

Multikino_karta

Poland – An interesting cross-promotion movie pass and subscription pass for satellite and cinema consumption of movies.

Polish satellite platform nc+ introduces a special offer for its subscribers who are cinema lovers. It offers a card Multikino Unlimited, which allows viewing films without additional charges in any of 31 cinemas of the chain Multikino. The Multikino Unlimited card costs monthly PLN 79, and provides a subscriber of nc+ with access to 31 films a month (one film a day) without the need to buy a ticket. The ticket also provides a 15-percent discount on a second ticket and on snacks in the cinema bar. Each subscriber can buy up to four cards (e. g. for family members). The subscriber buys the card for at least nine months. The fee for the card is billed on the monthly invoice.  LINK

Tehran Azadi Cinema

Iran – Before the revolution in 1979 there were 500 cinemas in Iran. Today there are just 200 and people rarely go to the ones left. So how to entice them back? Offer free screenings of films.

The Azadi Cinema Complex in Tehran announced on Tuesday that henceforth, its theaters will offer free admission every day for the first screening.

The decision has been made to encourage people to watch films at theaters, complex director Reza Saeidi told the Persian service of MNA.

“Other institutions and organizations should get on board with some promotional activities to draw people into theaters,” he added.  LINK

French cinema statistics

France – More proof that female audiences are driving cinema viewing this summer – with data coming from CNC in France.

In June 2014, the public cinema is predominantly female (51.3% against 51.4% in May 2014) as the barometer publiXiné National Film Center and Moving Image Centre (CNC) made in partnership with Médiavision. The share of less than 15 years in public this period (18.4%) is lower than in May 2014 (23.3%), “especially because of the late spring school holidays” he says. Total investment in the first half of 2014, the share of 3-14 years in public is higher by 5.2 points compared to the first half of 2013 the share of 15-24 year olds rose in June 2014 (22% , against 19.4% in May), as well as that of seniors (29.7% against 28.6% in May 2014). The share of CSP + is decreasing (30.1% against 31.4% in May 2014), while the inactive increased (44.8%, against 43.3% in May 2014). This increase PubliXiné notes, is as much the fact that retirees of pupils and students (respectively +1.1 and +1.7 points compared to May 2014).  LINK

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Daily Cinema Digest – Tuesday 22 July 2014

Imax China

Imax – According to Wall Street Journal China, Imax is planning to open a further 19 screens in partnership with local companies ahead of listing its local operation. Interestingly Richard Gelfond’s Chinese name is Gail Fang.

IMAX theater will open new cooperation with Chinese state-owned Shanghai Film Group (Shanghai Film Corp.), these new theater will open in the second half of 2015. IMAX chief executive Gail Fang (Richard Gelfond) in an interview that the new screen is in agreement IMAX April this year after the signing of a new partnership agreement, IMAX at the time that 20 percent of China operations will the shares sold to the Chinese Cultural Industry Investment Fund (China Media Capital) and private equity firm party sources of capital (FountainVest Partners), Chinese Cultural Industry Investment Fund and each party sources of capital will be paid before the beginning of 2015 to $ 40 million to purchase these services 10 % stake. Gail Fang said that this is one of the local partners to introduce IMAX many reasons. He explained that the next few weeks IMAX will sign an agreement with the Shanghai Film Group, a related company in China to open six new screens. He would not disclose more details. Gail Fang said they feel American investors do not fully understand the potential of the Chinese film market. IMAX China is a key growth market, also destined to become the company’s largest market.  LINK

Chinese ticket machine cinema third party

China – Internet purchases of cinema tickets via PCs and smartphones now accounts for as much as 40% of some screenings in China, many through third-party operators. But there are problems getting refunds when a screening or booking is cancelled.

So why buy from a third-party platform movie tickets will not refund it to industry sources, it involves a lot of problems:? First permissions issues, some theater tickets willing to open permissions to the site at any time to cancel or reservation, some if not, for unwilling audience request returned tickets, you need a web site to communicate with the theater; Second, the number of back problems, the user tickets through the website, the website will charge a service fee, which is not linked to the occurrence and the theater, And every ticket website service charges are not the same, how much money to retire to cinema audiences has become a major problem; most critical is that each theater has its own ticketing provision that “once sold, will not refund” also it as a “norm”, because in the theater seems, movie tickets have a time limit, the audience returned tickets may affect sales, so in the case of theater tickets out of their own can not retire, the net purchase tickets.  LINK

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Daily Cinema Digest – Monday 21 July 2014

dcinex logo

EVS is getting out of the digital cinema business (almost). Having launched a digital cinema server business and set up integrator XDC (later renamed dcinex) almost 15 years ago, the manufacturer is returning its focus to its core broadcast equipment business.

No need for lengthy analysis, other than to note that EVS probably held off longer than it wanted too, isn’t seeing very much return on its overall investment and will not quite be rid of the digital cinema connection until it disposes its newly gained Ymagis shares and bonds. The press release tells us that:

Under the agreement, EVS will receive at the closing:

  • EUR 2.1 million in cash
  • 288,851 new Ymagis shares
  • EUR 6.4 million in Ymagis bonds, which have a maximum maturity of 5 years. These bonds are associated with warrants.
  • In total, the approximate aggregate value of the different components (at last closing Ymagis share price of EUR 7.90) represents around EUR 10.8 million for EVS. On March 31, 2014 dcinex was valued at EUR 7.9 million on the EVS balance sheet.

In addition, dcinex will reimburse the currently existing shareholders’ loans. Today, the loan granted by EVS (including interests) amounts to EUR 1.5 million.  LINK

With digital cinema deployment coming to and end in western Europe (still some mopping up in southerns and eastern Europe), Ymagis can now focus on being a pure service company. Given that digital cinema is a small market with tight margins we should expect yet more consolidation.

Cineworld Ashford Kent

Cineworld has introduced allocated seating in UK, which has lead to confusion and criticism from some customers. A poll of 2,000 readers of a local paper in Kent saw 67% vote ‘NO’ to the allocated seating policy and some customers are threatening to cancel their Cineworld Unlimited. The multiplex chain is alone amongst the major operators in the UK in offering a monthly card allowing unlimited* movie viewing.

Critics said problems with the new system include confusion over row and seat numbers, people ignoring rules, arguments and problems with booking tickets online and the website crashing. Yesterday, KentOnline revealed an argument had broken out during a screening of Mrs Brown’s Boys D’Movie in Ashford when a group of five sat in the seats booked by other customers. Little Burton resident Kirsty Poynton said the beginning of the film was interrupted due to the disagreement. She said: “There was an argument between a large group of people at the screening.  LINK

But Cineworld is standing its ground with the new policy and a spokesperson quoted as saying, “The decision to introduce allocated seating was made following extensive consultation with cinema users. Whilst we recognise this has not been a popular decision with some customers, the overall and majority of feedback from customers visiting our cinemas has been positive.” (*Terms and Conditions apply – of course). Read More »

Daily Cinema Digest – Friday 18 July 2014

Vista Murray Holdway

New Zealand – Ticketing specialist Vista has been valued at $188 million. Not clear if US or NZ dollars, but as it is on the NZX bourse most likely the latter, meaning it is would be worth USD $163.4 million.

Investors in cinema software company Vista’s sharemarket float will pay $2.35 for its shares, valuing the company at $188 million.

The price was set following a book build open to institutional investors and retail brokers who had been told to expect the price to fall between $2.10 to $2.70.

Vista, one of a stream of technology companies listing on the NZX, is raising $40m of new capital through its initial public offer. Its existing shareholders are seeking to cash up $52m by selling down their stake in the company to 47 per cent.  LINK

Laxmi Talkies

India – Yet another article noting the loss of single screen cinemas in India as multiplexes march on, with Ranchi (the city in question) having four multiplexes but only three stand-alone cinemas left.

Licensing authority for theatres, Ranchi deputy commissioner Vinay Kumar Choubey, says: “We have just issued a licence for a new multiplex in Lalpur. We expect more such theatres to come up in the next few years. The biggest advantage that they have vis-a-vis single-screen theatres is that with multiple screens showing one movie at the same time, the money spent on making the film is recovered in the first weekend itself.”  LINK

Yet it is not smooth sailing for all multiplexes, including this one in Sambalpur that has not opened, despite construction work being finished back in January.

Though its operator Eyelax Films had scheduled to open the multiplex on January 26, it failed to do so as the district administration did not issue the licence.

The town used to have three cinema halls – Ashoka Talkies, Laxmi Talkies and Gaiety Talkies- till pirated CD market spelled doom for their owners. While encroachment by locals forced the Kerala-based owner of the Gaiety Talkies to sell the land to a real estate owner, others are running with old infrastructure. In absence of any option, cine lovers flock the Ashoka and Laxmi Talkies.  LINK

Meanwhile more reports that Reliance ADAG is looking to dump Big Cinemas.

The company is said to be in talks with other multiplex majors like Inox, @PVR_Limited1 Limited and also other PE firms.

As per reports if the strategic sale does not consummate the company would rope in the PE partner to invest in the multiplex chain after being spun off as a separate entity to be listed. LINK

Perhaps Reliance should sell them to Carnival, which is looking to acquire 3,000 screens over the next three years – a figure to be taken not so much with a pinch as a barrel of salt.

Shrikant Bhasi, chairman of the Carnival Group, said that his company is in talks to acquire 175 screens from three separate multiplex operators in Andhra Pradesh, Punjab and Uttar Pradesh. Bhasi did not share details of the plans, but confirmed that consulting firm KPMG is advising the company on the transactions, which he said will be concluded in the next two to three months. “The immediate goal is to have 300 screens,” said Bhasi, who is also a movie producer and has played minor roles in Malayalam films. “My team is already working for a 3,000-screen project.”  LINK

Not sure if they will want screens in southern India where state governments keep setting price controls on tickets and now also concessions.

The Congress government had promised to introduce uniform fares to contain the multiplex lobby in January.

But, in an interview to NDTV, state Information Minister Roshan Baig said, “I used to feel the pinch as a movie-goer. But then we are not paying for the ticket alone. Chennai has uniform rates of Rs. 120 and we wanted to bring the same to control the prices imposed by multiplex owners, but I realized it cannot work. Malls are now turning away from Chennai. But I have ordered multiplex owners in Bangalore to reduce prices of food items because they are very expensive”.  LINK

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Daily Cinema Digest – Friday 11 July 2014

Big Cinemas

India – After the surprise merger of its RMW film services division with Prime Focus, Reliance ADAG looks set to sell off its Big Cinemas operation. Good analysis as always from Variety’s Patrick Frater.

The company is in advanced negotiations to sell its Big Cinemas circuit to an unidentified private equity firm, according to Indian business media. RMW is also reported to be holding similar talks with PVR and Inox Leisure, the country’s two largest cinema operators. Big Cinemas operates some 280 screens across India, making it the third-largest circuit. Born from the Adlabs group that Reliance ADA acquired in 2006, Big Cinemas was previously the largest exhibitor in India. But it lost ground to its smaller rivals because it opened too many single-screen cinemas and missed some key acquisitions. LINK

India – And like most other multiplexes, Big Cinemas has completed the transition to DCI-grade digital cinema while most single-screen cinemas in India now have lower grade e-cinema systems from the like of UFO Movies, meaning that the country is close to complete digitisation.

With nearly 95 per cent of Indian cinema screens now digitised, the industry is expected to see buoyant growth in the long run. The Government has approved an anti-piracy plan for combating piracy which impacts movies’ box office collections. The Government has also signed co-production agreements with nine countries including Italy, Brazil, Germany, France, New Zealand, Poland and Canada. India is also a sought after shooting location, as the Government gave permission to 31 foreign production houses in 2013-14. Also, the first phase construction of the National Museum of Indian Cinema in Mumbai has been completed and will open for the general public shortly. LINK

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