Colombia Included in Cinépolis Expansion Plan
350 new screens will position the company as the fourth largest exhibitor in the world
The main objective for Latin America’s largest film exhibition company, Mexico’s Cinépolis, in 2012 is to expand into international markets. Colombia, along with Brazil, India and Peru are all part of this expansion plan which includes 350 additional screens, 200 of them outside Mexico, to bring the total number of screens to 3,150 by the end of the year. This is a 15% increase over last year and will make the company No. 4 in the world. To achieve their goal, the company will open new complexes bringing 4DX technology to the aforementioned Latin American countries exclusively. “This technology, exclusive to Latin America, has already been installed in 11 complexes in Mexico and this year we’ll be taking it for the first time to Brazil, India, Colombia and Peru. And we’ll continue to grow in Mexico where we are scheduled to install an additional six complexes using this technology,” stated director Alejandro Ramirez.
"This is the first year we’ll be expanding outside Mexico, a mature market with the greatest number of theaters in Latin America,” says Ramirez. “We have the largest movie theater infrastructure in Latin America, with one screen for every 23,000 inhabitants, compared to Brazil with one screen for every 85,000 inhabitants and Colombia and Peru with one screen for every 100,000. We have 300 theaters outside Mexico in ten countries including Guatemala, El Salvador, Honduras, Panama, Costa Rica, Colombia, Peru, Brazil, India and the southern United States, and have no plans to venture into a new market.
This history of this Latin American giant began in 1971 with the foundation of the Ramirez Organization, which after the exhibition sector opened up in 1992 changed its market strategy and its name to Cinépolis to face competitors Cinemark and Cinemex. The chain redesigned its theaters, adapting them to stadium-type seating, and launched the VIP concept. Later, they made the transition to digital and began screening 3D and, recently, 4DX films (the seats move), becoming the first and until now the only company in the region to install this technology. The company currently controls 62% of the nation’s box office receipts.
Cinépolis's investment in Colombia will complement the country's existing infrastructure comprised of 643 screens. Cine Colombia is the current leader with 227 high-quality screens distributed throughout the country and the Mexican company currently has 43 screens.