Kinopoisk stake is part of international expansion
LONDON — French Internet group Allocine has bought a 40% share in Russia’s popular Kinopoisk movie info website.
The group, which runs cinema web portals in France, Spain, Germany, U.K. and Canada, purchased the share from Russia’s Digital Sky Technologies for an undisclosed sum, Russian business daily Kommersant said Thursday.
Allocine said it had invested in the Russian site as part of its policy of international growth.
In a statement, it said that entering the Russian market was a key target. It was a country of 142 million people, with high cinemagoing numbers, more than 1,500 modern screens, and had witnessed a 30% increase in ticket sales last year with 110 million visitors.
Kinopoisk, which was founded in 2003, has around four million unique visitors every month.
Market observers in Russia put the value of Kinopoisk at between $3 million and $5 million.