"With just 600 multiplex screens in the country averaging 0.5 screens per million people in India as against 120 screens per million people in the U.S., there is plenty of scope for growth," said Milan Saini, country head and MD, Cinepolis India. Moreover, India is the largest market outside of Mexico and sells more than 2-3 billion tickets in a year. More than a 1,000 movies are produced annually and India also has the largest number of customers, he said. Cinepolis enjoys a 60 per cent market share in Mexico and is present in 10 countries with 1,600 screens world wide.
"The Indian market is a similar market to Mexico and we understand the values and expectations that go with emerging economies. There is a lot of mall development happening in India and this adds to our growth," Saini said.
There are other operators who are also expanding in India. Fame (I) Ltd, the company that owns and runs the Fame chain of multiplexes will be opening five additional properties across the country by the end of this financial year. Cinemax India opened a three-screen complex in Uttar Pradesh last week. Cinepolis meanwhile has plans to bring the biggest multiplex in India with 12 screens in Pune. The company's first product for the Indian market is a four-screen coming in Amritsar next month. "Cinepolis has a 22 screen offering in Mexico. In Pune, we have planned for 12 screens at Magarpatta, a 400-acre project," he said. The project should be ready by fourth-quarter of 2010.
Of the 160 screens, around 44 screens would come up in Maharashtra and the rest would come up in Gujarat. An investment of over Rs 3 crore is involved per screen. Total funding for the projects would range between Rs 1,500-1,700 crore, Saini said. Cinepolis recently tied up with Mukta Arts for sourcing film content for its upcoming roll out of multiplexes and plans to invest in digital 3D technology.
