Cinema City Sun Plaza opens in Bucharest, Romania
Second megaplex in Bucharest opened
Today Cinema City International, N.V. (WSI:CCI) (“CCI”) opens its second megaplex in Bucharest in the Sun Plaza shopping centre. The cinema has 15 screens and 2 934 seats and it’s equipped with 4 digital projectors. Following this opening Cinema City in Romania operates 7 cinemas with 72 screens in 6 cities.
“Opening of Cinema City Sun Plaza is our second step in Bucharest after fabulous Cinema City and IMAX in Cotroceni. I am proud to say that every time when we open cinema in Romania we are enjoying very warm welcome and high popularity.” said Moshe (Mooky) Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “Today’s opening in Bucharest will be followed by next openings in other cities in the country still this year. Romania is for sure the biggest growth potential for us and we expect Romania to become our second largest market soon”
Cinema City entered Romania in December 2007. Today the Company operates 7 cinemas with 72 screens including IMAX theatre in 6 cities in the country (Bucharest, Timisoara, Iasi, Cluj, Bacau and Pitesti). In the 1st quarter 2010 revenues from the Romanian market accounted for 7,7% of CCI’s revenues and they totalled EUR 5.4 million. Cinema City sold 910 thousand tickets in the first three months of 2010, what was 10.6% of all admissions sold by CCI during this time. In Romania the Company operates 10% of its total number of screens. 21 of the Romania halls are 3-D digital. In Romania Cinema City is also developing cinema advertising through New Age Media company and film distribution through Forum Film Romania being exclusive representative of the Walt Disney Studio in the country.
Development of cinema infrastructure in Romania by Cinema City will be supporting the country’s cinemagoing statistics, which in 2009 was on the level of 0,21 admission per capita. If one compares to Western Europe statistics , which shows rate of 2-3 visits per capita and even Central Europe that shows 1-1.5 visits per capita – the potential of Romania markets is clear. In the coming years the Company plans to open approx. 30 projects.
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 69 multiplexes with 679 screens, in 6 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria and Israel). There are 41 more multiplexes under development, which will offer 411 new screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.
In 2009 Cinema City sold 27,5 million tickets in six countries, 23.8% more compared to 2008.
The Cinema City group employs over 3,000 people in 6 countries.