At a time when multiplex culture is on a rise, and the existence of gold old cineplexes is threatened, one company has taken the mantle to revive and renovate single-screen theatres, especially in small towns.
Cinemeta Entertainments is the latest venture from World Media Group (WMG). WMG has successful business ventures in different industries across the world like the Sony television network in India. WMG also has DTH operations in Australia and New Zealand amongst many others. Cinemeta is their first foray in the India. The company currently operates from Mumbai and has a regional office in Ahmedabad.
Sameer Goswami, CEO, Cinemeta Entertainments, said, ?The promise of ?Cinemagic??the brand name of Cinemeta theatres?is multiplex experience in single screen prices. A large portion of the population cannot afford multiplex ticket prices. Also, multiplexes are not present in most smaller towns. Therefore, multiplexes cater only to a small part of the population whereas Cinemagic theatres will serve the common person across the town classes.?
Earlier, companies like UFO Movies, Pyramid Saimira did digitise multiplexes and cineplexes. But no company has ever restored the original format of single-screen theatres. Cinemeta acquires single screen theatres from the theatre owners on a long lease of 7-10 years and then refurbishes the same.
The company also wants to get into film production and distribution and they believe that ?Cinemagic? will make way for other businesses. Cinemeta is running a chain, comprising 20 theatres in Gujarat currently, and is looking at acquiring and running about 500 theatres over the next three years.
?The renovation cost is need-based and varies from theatre to theatre. What Cinemeta ensures is clean toilets, comfortable seating and ambience and state-of-the-art digital technology at each of the theatres. Cinemeta manages these theatres and does not lease them out,? added Goswami.
The entire cost of renovation is taken care of by Cinemeta. In addition to rationalised ticket rates, security customised food and beverage (F&B) menus are offered to the consumers. ?Other streams of income like parking and advertising revenues are opened up. All this covers the cost of renovation?, concluded Goswami.