News

Cinemaxx Set To Open 300 Cineplexes in Next Decade

Jul 17, 2014

MEDIA - The Jakarta Globe

Cinemaxx Set To Open 300 Cineplexes in Next Decade

Jakarta. Cinemaxx Global Pasifik, the movie theater chain operator unit of Lippo Group, has set aside Rp 6 trillion ($517 million) to open up to 300 cineplexes across the country within the next 10 years.

Cinemaxx Global plans to have some 2,000 cinema screens in 85 cities across the country over the decade, the company said in a statement on Thursday.

“Cinemaxx plans to expand its network in places that have the minimum number of movie theaters or even none at all,” Brian Riady, chief executive at Cinemaxx, said in the statement.

Cinema demand in Indonesia exceeds supply with less than 900 cinema screens across the archipelago at present, compared with 2,300 in 1992.

To kick-start the expansion, Cinemaxx is set to start operations of its first cineplex at the Palembang Icon shopping center in Palembang, South Sumatra, in September this year.

“[Palembang Icon] is the first location ready to operate a cineplex and the market there is huge as well,” Infany Suryadji, head of marketing at Cinemaxx, told the Jakarta Globe on Thursday.

The new cineplex, which will use the Cinemaxx brand name, is set to feature 15 cinema screens, becoming the largest in the country.

After Palembang, Infany said, Cinemaxx would also open cineplexes in Manado (North Sulawesi), Medan (North Sumatra), Ponorogo (East Java) and Jakarta through the rest of this year.

“The cineplexes still have to be built in the shopping centers. Each cineplex will have an average of seven cinema screens,” Infany said.

Lippo Group is currently constructing the Manado Xchange (MX) Lippo Plaza shopping mall and entertainment center in Manado.

The group said in February that the MX Plaza was set to open by the end of this month and it would also house a Cinemaxx and Hypermart.

Cinemaxx will compete with two rivals, namely Blitzmegaplex — owned by Graha Layar Prima, the only listed cinema chain operator — and the country’s largest theater chain, 21 Cineplex.

Graha Layar Prima said in April that it would build three new cineplexes, with 10 screens each, in Yogyakarta, Surabaya (East Java) and Bandung (West Java) in the second half of this year. The company has set aside a combined $6 million for the cinemas.

Cinemaxx and the Jakarta Globe are both affiliated with Lippo Group.

    Other News