MEXICO CITY — Diversifying across the continent, Corporacion Interamericana de Entretenimiento (CIE), Latin America’s leading live-entertainment company, has reported a 35% revenue rise for 2000.
During the year, Mexico City-based CIE saw sales rise to 3.99 billion Pesos ($410 million) while net income jumped 43% to $27.5 million. The good numbers come as the company, founded in 1990, continues its rapid expansion across the region.
Execs gave particular credit to Mexico City’s Las Americas racetrack, acquired in late 1999, the 51-pic portfolio of CIE’s film library — including 2001 Oscar nominee “Amores Perros” (Love’s a Bitch) produced by Altavista, the company’s fledgling Mexican studio — and the consolidation of its legit circuit in Latin America and Spain, including new productions “Les Miserables” and “Man of La Mancha”.
As a result, CIE’s entertainment division saw annual revenues jump 46% to $309 million.