CT Corp moving to open cinemas
Indonesia’s retail/media conglomerate CT Corp is partnering with cinema companies to open movie theatres in its retail complexes.
CT retail arm Trans Retail has announced a partnership with Graha Layar Prima, which runs the Korean-owned CGV cinema chain (formerly known as Blitz Megaplex), to develop cinemas at CT’s Transmart Carrefour stores across Indonesia. Launched last year, the Transmart centres feature restaurants, apparel stores and supermarkets. There are presently 13 outlets, with a US$3 billion plan to expand the number to 100 by 2019.
CT founder/chairman Chairul Tanjung says that over the next three years a minimum of 500 cinema screens will be opened in Transmart centres.
GLP will open CGV cinemas in four Transmart centres in Java and Sumatra in May, with plans to add four more by the end of the year. Each cinema will have five screens and include 4D entertainment systems, sofa-type seating for couples and VIP spaces that serve drinks and snacks.
GLP says its cinemas attracted more than 10 million visitors last year, a 150 per cent increase from 2012. It aims expand its network of cinemas to 40 from the current 27.
Meanwhile, Singaporean sovereign wealth fund GIC is to acquire an undisclosed stake in cinema company Nusantara Sejahtera Raya (NSR) for 3.5 trillion rupiah (US$262.9 million).
Trans Retail has just signed a deal to install NSR’s Cinema XXI movie theatres in at least four Transmart stores this year.
Meanwhile, mall management company Lippo Group is expanding its own cinema business, with plans to have 2000 screens across 85 cities by 2024.