Cinema City opens in Arad, Romania. Cinema City has over 100 screens in Romania.
Today Cinema City celebrates the opening gala of its second multiplex in Arad, Romania. This is the 11th Cinema City in the country. The cinema has 8 screens, all are digital, 1 673 seats and it’s located in Galleria Arad shopping center developed by GTC. The first Cinema City in Arad with 10 screens opened in 2010. Arad is the second city in Romania, after Bucharest, where Cinema City operates two multiplexes.
“The opening in Arad is another important step in our development plan in Romania. This opening also shows our strong cooperation with leading developers in the region like in this case GTC”.” said Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “Romania is the country, where cinema going has a great future. In the past 3 years the number of tickets sold in Romania has doubled, although the cinema going statistics in Romania remain low compared to Western Europe countries and also compared to the CEE countries. We look forward to open more multiplexes here, which will support the national statistics in the coming years.”
Cinema City in Romania has 11 multiplexes in 9 cities: Bucharest (Cotroceni&IMAX and Sun Plaza), Iasi, Timisoara, Pitesti, Bacau, Cluj, Braila, Baia Mare and Arad. Romania is the country, where Cinema City experiences the most intensive organic growth of cinema circuit. The Company has more than 20 lease agreements for cinemas located in shopping centers, which openings are scheduled in 2011-2013. The next opening of Cinema City in Romania is scheduled for November in the city of Turgu Mures.
In the first six months of 2011 Romanian operations generated EUR 10.9 million (+18.9% over the 1st half of 2010), which were 8% of the Company’s total revenues in the 1st half of 2011. In Romania Cinema City sold 1.8 million tickets (+19.4% over the 1st half of 2010). The Company is also running cinema related businesses: cinema advertising through New Age Media and film distribution through Forum Film Romania, which is an exclusive distributor of Walt Disney Studio.