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Tag: cinema

  • Chiikawa Film Surpasses ¥10 Billion at Japanese Box Office

    Chiikawa Film Surpasses ¥10 Billion at Japanese Box Office

    Japan’s animated feature “Chiikawa the Movie: The Secret of Mermaid Island” surpassed ¥10 billion ($63 million) in domestic box-office receipts within 30 days of its July 24 debut.

    The release drew 7.66 million cinema admissions through August 23 across 447 theaters nationwide, including 65 IMAX screens. That run puts the title among the highest-earning theatrical releases in the country this year.

    Opening-day records and theatrical reach

    Directed by Kei Oikawa, the production is adapted from the character franchise created by the artist Nagano, which started on social media platform X in 2020. The story follows the title character alongside companions Hachiware and Usagi as an island camp excursion leads to an encounter with a sea creature named Siren.

    Commercial momentum built immediately on release. The film collected ¥990 million on its opening day alone, registering the seventh-largest first-day gross recorded at the Japanese box office. Revenue across the opening three-day weekend reached ¥2.24 billion.

    Expansion into interactive screening formats

    Character merchandise and spin-off media remain significant drivers of consumer spending across East Asian retail markets. For Japanese entertainment operators, converting short-form web comic properties into multi-billion-yen cinema franchises delivers substantial downstream demand for licensed goods, retail pop-ups, and brand collaborations.

    Exhibitors are now widening screening formats to sustain attendance into the autumn. The picture enters 4DX motion-seat auditoriums on September 5. Participating cinemas will then host singalong screenings in five prefectures on September 11, followed by synchronized light-stick events scheduled for September 23.

  • Grab launches ‘Buy Now, Pay Later’ option

    Grab launches ‘Buy Now, Pay Later’ option

    Grab has expanded its fintech offer with “Buy Now Pay Later” facility and an online store check-out plugin.

    Through its joint venture with Credit Saison, the ride-hailing platform offers a post-paid payment facility which allows customers to pay for Grab services at the end of the month, without additional fees.

    This is geared towards consumers who face exceptional expenses, but are keen to avoid being hit with high credit card or personal loan interest payments.

    The platform will also launch another pay-later product, which will allow consumers to shop online immediately, but pay for their purchases in installments.

    Only Grab’s most creditworthy customers can use these two products. Credit risk is based on their tenure on the Grab platform, frequency of use and spending patterns.

    Grab has been boosting its financial services in Southeast Asia in recent years. Its GrabPay service has teamed with e-commerce platforms such as Qoo10 and 11Street.

    It has recently signed with Adyen, Boku, iPay88, Dragonpay, Cathay Cineplexes, and SM Cinema in the Philippines.

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  • Number of Cinema Screens in Indonesia Expected to Double Over Next 3 Years

    Number of Cinema Screens in Indonesia Expected to Double Over Next 3 Years

    The head of the Creative Economy Agency, or Bekraf, said he expects the number of cinema screens in Indonesia to double over the next few years, amid growing interest in the national film industry.

    “We expect to see at least 3,000 screens – twice what we have today. This is because local films thrive in small towns, but that’s also where we face a lack of theaters,” Bekraf chairman Triawan Munaf said on the sidelines of the World Conference on Creative Economy in Nusa Dua, Bali, last week.

    According to the agency’s 2019 Creative Economy Outlook, there are currently nearly 1,700 screens across the country. Triawan expressed hope that this could be nearly doubled over the next three years.

    The report further states that film is currently the fastest-growing subsector of Indonesia’s creative economy.

    However, as imported films still drive demand among moviegoers, the industry must figure out how to get local films to compete with those from abroad in terms of screening and scheduling.

    Triawan said the national film industry is growing rapidly, as illustrated by the fact that 40 percent of films screened in the country are local.

    This year, teen drama “Dilan 1990” attracted more than 6.3 million viewers nationwide, making it the second best-selling Indonesian film of all time after the 2016 reboot of the popular 1980s comedy franchise, “Warkop DKI Reborn: Jangkrik Boss! Part 1,” which boasted more than 6.8 million viewers.

    The number of moviegoers in the country has meanwhile also increased to more than 42 million by 2017 from around 16 million in 2015.

    More screens in other parts of the country can therefore facilitate this growth, as 183 of Indonesia’s 488 theater complexes are located on Java Island, Bekraf said.

    Cineplex 21, CGV Cinemas and Cinemaxx currently dominate the movie theater industry in Indonesia with 1,003, 275 and 203 screens, respectively.

    In her speech at last week’s conference in Bali, Finance Minister Sri Mulyani Indrawati also highlighted the importance of more vocational training to support the creative economy, of which the film industry is part.

    Despite the large number of moviegoers, many of them are less enthusiastic about local films because there are limited choices in terms of storyline and variety, which shows that there is a need for more quality screenwriters.

    “Indonesia has huge potential when it comes to writers and screenwriters, and this is an area we must explore further,” the minister said.

    Sri Mulyani also said that she was keen to learn more about the creative economy and how she could assist in its development.

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  • CGV to boost its presence in Vietnamese cinema market

    CGV to boost its presence in Vietnamese cinema market

    CJ CGV Vietnam Holdings said Friday it will further expand its presence in Vietnam by maximizing funds from its planned listing in Korea this month. The cinema chain based in Vietnam is scheduled to go public on Seoul’s main Kospi bourse on Nov. 16. It plans to issue 5.71 million shares, with the share price to be set between 18,900 won ($16.80) and 23,100 won, according to the firm and the bourse operator, Korea Exchange.

    “We find great potential in the Vietnamese market, as its population is approaching 100 million and its income and domestic demand have been on a rise, but the entertainment market has not been developed,” chief Shim Jun-beom told reporters.

    Wholly owned by CJ CGV, Korea’s largest multiplex cinema chain, CJ CGV Vietnam Holdings has operated the Vietnamese chain through its subsidiary CJ CGV Vietnam since 2011.

    It now leads the market there with 347 screens at 57 cinemas. In terms of film distribution and advertisement, CJ CGV also occupies the top spot.

    “We expect our market share to grow from the current level of 41 percent to around 60 percent in five years,” he added.

    Last year, sales of the holding firm came to 128.3 billion won, up 22.6 percent from the previous year, and its operating profit rose 4.8 percent on-year to 11.4 billion won.

    It has selected Hanwha Investment & Securities and Shinhan Investment Corporation as its lead managers for the IPO.

    In July, CJ CGV CEO Seo Jung said that the company aims to increase the number of its screens around the world to 10,000 in 11 countries by 2020.

    Currently, the multiplex chain, owned by the food and entertainment conglomerate CJ, is the world’s fifth-largest cinema chain with 3,459 screens around the world.

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  • Reel Cinemas launches dine-in movie theatres

    Reel Cinemas launches dine-in movie theatres

    Dubai-headquartered Reel Cinemas has launched dine-in movie theatres in the UAE, with one planned for The Dubai Mall.

    The theatres – designed with comfortable seats and tables to eat while watching a movie – will feature meals created by chef Guy Fieri. The first has opened at the Jebel Ali Recreation Club, with the third location to be The Pointe in The Palm Jumeirah.

    Combined, the theaters will have 14 dine-in screens, with session tickets covering not just the film but also a meal comprising an appetiser and main course from Fieri’s American Kitchen concept. And none of the Dine-In Cinemas will serve popcorn!

    “Reel Cinemas is setting new benchmarks in providing moviegoers with unprecedented entertainment experiences,” explains Damien Latham, CEO of Emaar Entertainment, the operator of Reel Cinemas.

    “Guy Fieri represents the latest in strategic partnerships that underlines our commitment to pioneering innovative trends for the cinema industry in the Arab world.”

    Restaurant-prepared meals from Guy Fieri’s American Kitchen are delivered to the table of movie-goers, as they enjoy blockbusters with Dolby Atmos and Barco Flagship Laser projection.

    The menu takes inspiration from Fieri’s best-known dishes, such as his signature Mac & Cheese Burger, Trash Can Nachos and New York marbled Cheesecake.

    Fieri, an Emmy Award-winning chef, restaurateur, TV personality and author, has 45 restaurants located across the US and Mexico and will soon be launching in South Africa. This is his first venture into the Middle East.

    “The concepts we are building are truly a first of their kind venture for both of us,” says Fieri. “I know how to give guests a real-deal food experience and I know that Reel Cinemas has the expertise to apply it to the theatre space – so it’s a great partnership.”

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  • Hong Kong government to boost cinema numbers through land lease terms

    Hong Kong government to boost cinema numbers through land lease terms

    It will be mandatory for two commercial sites earmarked for sale in Kai Tak and Sha Tin to include cinemas in their land leases, as the government attempts to shore up the creative industries amid soaring rents.

    Rules set a fixed number of seats for cinemas, while also stating that future modifications can only be made after seven years, and must be vetted by the government.

    Industry insiders welcomed the move, but a property advisor questioned if the market should be left to adjust on its own.

    Three years in a row, Chief Executive Leung Chun-ying has promised in his annual policy address to back creative industries by “facilitating cinema development through land sales and planning”.

    The idea came to a head on Monday when two sites planned for sale in Kai Tak and Sha Tin will make the inclusion of cinemas mandatory.

    “In identifying suitable land for the development, we believe that it will be more synergetic if we can find places where there are, for example, restaurants and cafes, together with shopping facilities,” Secretary for Commerce and Economic Development Greg So Kam-leung said.

    The exact locations of the sites were not known, but So added that the two plots of land would be up for sale in a few years “if everything went smoothly”.

    Asked how many cinema seats the government planned to impose in the land lease clause, the minister said studies remained at a preliminary stage and the final proposal would depend on the prevailing business environment.

    According to the Census and Statistics Department, revenue from cinemas doubled from HK$950 million in 2005 to HK$1.9 billion in 2015.

    The government would also look into the feasibility of a cinema complex at the Tourism Node in the Kai Tak development – a 5.9-hectare hub for retail, hotel and office purposes – as well as the West Kowloon Cultural District.

    Norman Chan Hok-yan, film director and lecturer at Baptist University’s academy of film, welcomed the move, saying cinema operations in Hong Kong have become increasingly difficult due to high rents.

    “The high land price policy undertaken by the government in recent years contributed to the falling cinema numbers,” he said.

    While there were now cinemas in 17 of Hong Kong’s 18 districts, Chan said most cinemas were smaller in size compared to the golden age of Hong Kong films in the 1970s and 1980s.

    “Back then there were seven to eight cinemas in Mong Kok alone, each accommodating 500 to 600 guests. Now most cinemas can hold 200 to 300 people only,” Chan added.

    But Helen Mak, head of retail services at property adviser Knight Frank, questioned if such a rigid requirement should be imposed.

    “Developers can always do the math and work out the best business model … the retail industry is always rapidly changing. Who knows what the market condition would be by the time these plots come up for sale?” she said.

    Asked about the recent closure of a cinema in Tung Chung, Mak said: “If it was popular, I’m sure the mall’s operator would not drive it out.”

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  • Vincom suits Platinum Cineplex

    Vincom suits Platinum Cineplex

    Earlier, on March 8, the M.V.P Group held a press conference to address issued related to the closure of Platinum Cineplex, the biggest cinema operator by screen in Hanoi, at three Vincom malls.

    The three cinemas include Platinum Royal City in Thanh Xuan District, Platinum Times City in Hai Ba Trung District and Platinum Long Biên in Gia Lam District.

    At the press conference, an M.V.P representative said that VCR’s unilateral termination of the contract signed with M.V.P Group ahead of expiration date was illegal, as the group had not breached the contract.

    Platinum has no outstanding debts at any of the three Vincom malls, the representative said, dismissing claims made by Vincom Retail in local media.

    He said that the information supplied by VCR had serious impact on the group’s prestige.

    In response to claims by the M.V.P Group, VCR general director Trần Mai Hoa said VCR had many times asked the M.V.P to voluntarily move its assets away from VCR premises as regulated in contract clause of termination. However, M.V.P has deliberately delayed moving.

    Specically, on October 15, 2016, M.V.P agreed to move their assets but later asked for extension to February 4, 2017. On December 19, 2016, the group once again asked for an extension of 10 to 12 months. On December 20, 2016, it requested an extension and permission to operate over the Tết (Lunar New Year) holiday.

    VCR agreed to an extension to February 24, but M.V.P has still not moved its assets. Therefore, on March 1, VCR was forced to seal the premises, in accordance with the contract. It notified M.V.P of its plans, and even agreed for M.V.P to send a representative to the premises to check its assets.

    “Sealing the premises is a legal measure to recover our premises appropriated by the M.V.P when the leasing contract ended,” Hoa said. It was done and witnessed by M.V.P managers and representatives from authorities at each location.

    Related to the outstanding debts, Hoa said that VCR and M.V.P had a working session to calculate the outstanding debts, and on October 14, 2016, head of the M.V.P financial department confirmed the figure.

    The contract was terminated in accordance with the rights of the two parties negotiated and clearly specified in the contract, the VCR representative said.

    She noted that the case is a disagreement between the two independent business partners and should therefore be resolved on the basis of law and the trade and civil agreement between the parties.

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  • Korean multiplex chain leads booming movie market in Vietnam

    Korean multiplex chain leads booming movie market in Vietnam

    CJ-CGV has quickly emerged as the dominant cinema chain with more than half of the market share. South Korean multiplex chain CJ-CGV, which currently has 38 cinemas and 247 screens in Vietnam, managed to triple its net profit last year to VND93.4 trillion ($4 million).

    The chain has aggressively expanded in Vietnam since 2011 when it spent $73.6 million to acquire an 80-percent stake in Megastar, one of the biggest local operators at the time.

    After the acquisition, CGV maintained an impressive growth rate with revenue hitting VND870 billion in 2012 and VND1.1 trillion in 2013, equivalent to year-on-year increases of 45 percent and 27 percent. The operator also reported substantial growth in net profit, generating on average VND120 billion per year; three times higher than the best achieved by Megastar.

    In the next two years, despite steady revenue growth, CGV recorded a significant decline in net profit due mainly to massive investments in new cinemas and foreign exchange fluctuations.

    Its 2014 revenue only matched 2013, and net profit tumbled by 40 percent to VND70 billion. In 2015, while revenue soared by 60 percent to VND1.76 trillion, net profit slumped by 55 percent to VND31.5 billion.

    CGV has established itself as the leading distributor in the country. It has won exclusive distribution rights to handle movie releases for giant film studios like Universal, Paramount, Disney and Warner Bros, and also topped the distribution rate for local movies.

  • Indonesia’s CT launches cinema blitz to boost retail chain

    Indonesia’s CT launches cinema blitz to boost retail chain

    Indonesia’s CT Corp. is partnering with cinema operators to open movie theaters in its commercial complexes. The retail and media conglomerate hopes to tap growing demand for entertainment and gain an edge over other retailers.

    On Wednesday, CT retail arm Trans Retail announced a partnership with Graha Layar Prima, operator of the CGV cinema chain (formerly known as Blitz Megaplex), to develop cinemas at CT’s Transmart Carrefour stores across Indonesia.

    CT officially launched its Transmart centers, which feature restaurants, apparel stores and supermarkets, in 2016 and currently operates 13 outlets across the archipelago. It plans to invest $3 billion to expand the number to 100 by 2019.

    “For the next three years, we will deliver [a] minimum of 500 [cinema] screens” to Transmart centers, CT founder and Chairman Chairul Tanjung told the Nikkei Asian Review on the sidelines of a recent business conference in Hong Kong.

    GLP will open CGV cinemas in four Transmart centers in Java and Sumatra in May, with plans to add four more by the end of the year. Each cinema will have five screens. CGV theaters stand out for their 4-D entertainment systems, sofa-type seating for couples and VIP spaces that serve drinks and snacks. CT is targeting the country’s growing middle class, which is expected to account for nearly half the population by 2030, compared with 19% in 2010, according to a 2012 report by McKinsey Global Institute.

    Mall operators have been keen to invest in the growing entertainment market to set themselves apart amid stiff competition from convenience stores and online retailers. Lippo Group, the largest mall operator in Indonesia, is aggressively expanding its own cinema business, with plans to have 2,000 screens across 85 cities by 2024.

    The relative scarcity of entertainment facilities and scorching temperatures in Indonesia have made movie theaters an increasingly popular destination there. GLP said its cinemas attracted over 10 million visitors in 2016, up 150% from 2012. The top-grossing domestic film this year raked in a record 205 billion rupiah ($15.3 million), according to local media.

    GLP aims expand its network of cinemas to 40 from the current 27. The partnership with CT provides it a major retail platform for increasing its footprint at a time when cinema operators are bracing for fiercer competition amid a wave of deregulation. In 2016, the government removed film projection, production and distribution from its list of businesses with foreign investment caps. In December, Singaporean sovereign wealth fund GIC announced that it will acquire an undisclosed stake in Nusantara Sejahtera Raya, Indonesia’s largest cinema operator, for 3.5 trillion rupiah.

    Satria Hamid, a spokesperson for Trans Retail told that the company signed a deal in December to install NSR’s Cinema XXI movie theaters in at least four Transmart stores in 2017.

    Even as cinema and mall operators take steps to gain an edge over traditional and online retailers, a new wave of competition is emerging in the form of online streaming services, such as Netflix.

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  • GIC buys $370 million ticket to the movies in Indonesia

    GIC buys $370 million ticket to the movies in Indonesia

    GIC is investing 3.5 trillion rupiah (S$370 million) in Indonesian cinema operator PT Nusantara Sejahtera Raya (NSR) as the Singapore sovereign wealth fund hopes to capture a slice of Indonesia’s economic growth.

    The investment is intended to help NSR further anchor its market position and to prepare for the next stage of growth, GIC and NSR said in a press release.

    “The investment by GIC reflects our confidence in Indonesia’s long-term growth potential,” said Amit Kunal, GIC’s head of direct investments group for South-east Asia, private equity and infrastructure.

    “NSR’s operational expertise and portfolio of high quality cinemas positions it well to benefit from the rapidly expanding consumer class and economic development in Indonesia. We look forward to working with the team at NSR to accelerate its presence nationally and to achieve the vision of providing best-in-class cinematic experience to the country.”

    NSR owns the Cinema 21, Cinema XXI and The Premiere brands in Indonesia.

    The company operated 864 screens in 157 cinemas across 36 cities in the country as at December 2016.

    The NSR investment is in line with GIC’s stated long-term optimism about the region’s economic prospects.

    In GIC’s investment report in July, the fund noted that it held more emerging market equities than a reference portfolio.

    About 19 per cent of the fund’s portfolio was invested in emerging market equities as at March 31, 2016, up slightly from the 18 per cent allocation a year earlier.

    “We have assessed that emerging market equities will benefit from the sustained structural improvements in these economies, and contribute positively to the long-term real returns of the GIC portfolio,” GIC said.

    “We have maintained this assessment even though emerging market equities have underperformed developed market equities in recent years.”

    The worldwide cinema industry is expected to continue to grow over the next few years, with Asia-Pacific outpacing the global average, according to an analysis by PwC.

    In a recent report, PwC estimated that the Asia-Pacific cinema business could grow at a rate of 11.8 per cent per year from US$14.2 billion in 2015 to US$24.7 billion in 2020.

    The expected global average is a more modest 5.8 per cent per year over the same period.

    Box office sales in the region are estimated to grow at 12 per cent per year through 2020, about double the global outlook of 5.8 per cent per year.

    Asia-Pacific cinema advertising is expected to grow at 6 per cent every year through 2020, more than two times faster than the expected global average of 2.8 per cent.

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  • Frasers Centrepoint Trust buys retail podium of Yishun 10 Cinema Complex

    Frasers Centrepoint Trust buys retail podium of Yishun 10 Cinema Complex

    Frasers Centrepoint Trust has entered into two sale and purchase agreements for the acquisition of the retail podium of Yishu 10 Cinema Complex. The deal is worth $37.8m.

    One of which was with Goldvein Trading Pte. Ltd., for the acquisition of units #01-01, #01-02, #01-04/04A, #01-05, #01-06, #01-07, #01-08 and #01-09 of the retail podium of Yishun 10 Cinema Complex, 51 Yishun Central 1, Singapore 768794 at a consideration sum of S$25.9m

    The other was with Bon-Food Pte Ltd, for the acquisition of unit #01-03 of the Retail Podium at a consideration sum of S$11.8m.

    The acquisition is in line with the strategy of FCT of nvesting in quality income-producing properties used primarily for retail purposes.

    Goldvein Trading Pte. Ltd. and Bon-Food Pte Ltd are whollyowned Singapore subsidiaries of Bonvests Holdings Limited, a company listed on the Main Board of Singapore Exchange Securities Trading Limited.

    The Aggregate Consideration for the Acquisition was arrived at on a willing-buyer and willing-seller basis after taking into account the location, occupancy and rental income generated by the Retail Podium. The independent valuation as at 30 September 2016 of all 10 units of the Retail Podium by Jones Lang LaSalle Property Consultants Pte. Ltd., which was appointed by the Trustee, is S$40m and derived using the discounted cash flow approach and direct capitalisation approach.

    The Aggregate Consideration will be paid in cash to the Vendors on completion of the Acquisition, which is expected to be on 16 November 2016.

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  • South Korean, Chinese cinema giants line up to enter Indonesian market

    South Korean, Chinese cinema giants line up to enter Indonesian market

    The government’s recent decision to allow full foreign ownership in local movie businesses has attracted the interest of South Korean and Chinese cinema giants to invest in Southeast Asia’s largest market, a government official said.

    Creative Economy Agency (Bekraf) head Triawan Munaf said a number of foreign investors were currently conducting feasibility studies for expanding their operations in Indonesia, home to more than 250 million people. Among the big names on the list are South Korean’s Lotte Cinema and Megabox, as well as China’s Dalian Wanda, which is also the world’s largest cinema chain operator.

    “Hopefully they can come by the middle of 2017,” he said on Thursday on the sidelines of the DBS Asian Insights Conference 2016 in Jakarta.

    Despite being the largest economy in Southeast Asia, Indonesia has one of the least penetrated cinema markets in the world. Data gathered from various commercial cinemas shows that there are only about 1,100 film screens available in the whole of Indonesia, with 35 percent of all theaters being in Jakarta.

    With its population size, Indonesia, Triawan said, ideally should have 15,000 screens.

    BKPM estimates that the recent removal of certain sectors from the nation’s negative investment list, signed by President Joko “Jokowi” Widodo earlier this year, will help efforts to hit the investment target of Rp 594.8 trillion (US$43.6 billion) by the end of this year.

    Under new regulations, foreign investors can now fully own local cinemas, film production houses and distribution firms.

  • Cinemaxx to Open First D-BOX Theatre in Indonesia

    Cinemaxx to Open First D-BOX Theatre in Indonesia

    D-BOX Technologies and PT Cinemaxx Global Pasifik (Cinemaxx), affiliate of Indonesia’s Lippo Group, are pleased to announce the conclusion of an agreement to install D-BOX immersive motion systems into the first auditorium in Indonesia in 2016.

    “The addition of D-BOX reinforces our commitment to give moviegoers the best cinematic experience possible” declared Mr. Mohit Dubey, President of Cinemaxx. “The D-BOX brand has international notoriety and we are absolutely convinced that today’s agreement, which may expand over time, will be a tremendous success for our business and the satisfaction of our guests.”

    “This announcement marks yet another milestone in our international expansion. Teaming up with an exhibitor like Cinemaxx is an important step in our mission to build on our presence throughout Asia”, mentioned Claude Mc Master, President and CEO of D-BOX Technologies. “Indonesia, the fourth most populous country in the world, is on an upward growth path. It also has a relatively young population which enthusiastically responds to the type of entertainment we provide”, added Mc Master.

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