Cinepolis India announced that it had entered into an agreement with Mukta Movies Distributors (the distribution arm of Mukta Arts) for sourcing film content for its upcoming rollout of multiplex theaters across the country. Under the terms of the three-year agreement, Mukta Movies Distribution will source all domestic film content for Cinepolis.
Commenting on the partnership, Mr. Subhash Ghai, Chairman and Managing Director of Mukta Arts said, ?We are pleased to associate with a renowned global brand like Cinepolis. With their aggressive pan-India rollout plan and their large format megaplex designs, we stand ready to support Cinepolis India for all their film programming needs with high quality and timely service.?
The tie-up also opens the opportunity of Indian movies going overseas for international distribution to the Latin and South American markets where Cinepolis has a strong presence.
Cinepolis has been instrumental in developing Mexico to become the 4th largest market for Hollywood movies over the past decade, where its market share exceeds 60%.
In India, Cinepolis has announced plans to rollout 500 screens in the next seven years, most of which will be in the megaplex format. Large format megaplexes allow for more titles to be played and for titles to stay in theater for a longer first run.