Strong signal of Recovery for the Russian cinema sector, Europe’s largest for theatrical admissions.
According to the box office and admissions results from September 2020, KARO cinemas achieved similar operating results as from September 2019. Compared to August 2020, admissions and box office in September 2020 for Karo increased nearly 3 times.
Overall in September Russian cinemas generated over 7 million admissions totaling more then $25 million in Total Box office takings.
Key factors in the increase of admissions from August was the reopening of all KARO cinemas in 9 regions of the country, the opening of new Moscow venues KARO 8 Salaris and KARO 4 Angara, as well as a high quality repertoire, including the Russian box office leader for September, and the entire post-crisis period Christopher Nolan’s “Tenet”. “Tenet” earned $9,83 million at the box office which is an outstanding result for a Christopher Nolan film. Other notable films during September included Disney’s “Mulan” and “The New Mutants”, teenage melodrama “After We Collided”, and the Russian biopic “Streltsov”. A significant contribution to KARO’s box office was generated by special screenings and events programed by KARO’s specialty art division.
Paul Heth, Karo Group CEO and Olga Zinyakova, President of KARO cinema chain, in a joint statement commented "We are very appreciative and encouraged that our loyal audiences are returning to the magic of experiencing storytelling on the big screen. We will able to safely host our guests with all manner of health measures in place to include social distancing and strictly adhering to capacity limits established by the local authorities. We are confident that the Russian cinema sector will continue to play an important role in the overall recovery of the global motion picture industry.”
Each KARO location has been reconfigured to allow for both social distancing in the lobby, food and beverage sales areas, and separated and distanced seating amongst its cinema halls. In consultation with local health authorities KARO has implemented heightened cleaning procedures and elevated sanitation levels. More information on KARO cinemas and film scheduling can be found at KaroFilm.ru.
About Russian Cinema Sector
Russia is one of the world’s most dynamic and growing markets for filmed entertainment. Russia cinemas attracted a record 217 million visitors in 2019, the third consecutive year annual admissions exceeded 200 million.
Box office in Russia in 2019 was 56 billion rubles, making it a vital and top 10 overall international theatrical market for major studios and independent producers. Local production accounted for 22% of the overall box office. The success of local production is a major factor in the continued growth and sustainability of the Russian film sector.
The KARO cinema chain which was founded in 1997, has set a new standard for the theatrical exhibition industry in Russia. Today KARO is one of the leading, and most technologically advanced cinema chains in the country with 32 modern cinemas and 262 screens in Moscow, the Moscow region, Saint Petersburg, Yekaterinburg, Samara, Kazan, Kaliningrad, Tyumen and Surgut, KARO operates five of Russia’s top ten highest grossing cinemas to include the number one and number two cinemas, KARO Sky 17 at AviaPark and KARO Vegas 22.
KARO Cinemas are visited by over 12 million people annually. In addition KARO leads the Russian cinema sector in online engagement. In 2017 KARO was named by international Convention “CineEurope” as the best European cinema circuit, chosen from among 18 other cinema chains from 37 countries. Since 2012, the major and controlling owner of KARO is a consortium of investors consisting of UFG Private Equity, the Russian Direct Investment Fund (RDIF) and Paul Heth, a filmed entertainment entrepreneur, known as a visionary leader and pioneer in the modern Russian cinema industry.