Exhibitor to invest about $700,000 per screen
MEXICO CITY — Mexican exhibitor Cinepolis has inked a three-year contract with the distribution arm of India’s Mukta Arts’ to supply pics for its upcoming rollout of multiplexes across the country.
India sells more movie tickets than any country, posting a mind-boggling 3.4 billion ducats in 2008. Cinepolis is expected to invest about $700,000 per screen and will focus on ‘plexes with 10 screens or more as opposed to typical Indian ‘plexes with only three or four screens.
Cinepolis India will initially build 110 screens in eight cities over two to three years, with eventual expansion to 500 screens in 40 cities by 2017.
Cinepolis touts itself as the fifth-largest chain in the world with 222 complexes in Mexico and five Latin American countries. It took in $675 million last year and has consistently added about 200 screens per annum in recent years.
The new partnership could also open a path for Mukta films to unspool in the Latin American markets where Cinepolis thrives.
The first Cinepolis India multiplex is scheduled to open in Amritsar, Punjab, in November.