- Korean Film News
Korean Film News
CGV Indonesia to Open 50th Theater Later This Year
Jul 31, 2018
- Writerby SONG Soon-jin
10 Million Viewers Threshold Hit in Shortest Period Ever, with 14.85 million Moviegoers in 2017
Global cinema exhibition chain CJ CGV is set to open its 50th theater in Indonesia later this year. “CJ CGV plans to open its 50th theater in Indonesia later this year, as a result to the expansion of CGV theaters in the country from the first tier to third-tier cities,” said KIM Kyoung-
tae, CEO of CJ CGV Indonesia, on July 8th, while adding that his branch has reached 10 million admissions in the shortest period of time.
In January 2013, CJ CGV entered the Indonesian market by acquiring a majority share in the local exhibition company Blitz Megaplex. CGV Indonesia first focused its efforts on increasing its presence in major cities like Jakarta and Bandung with the establishment of multiplexes before expanding into provincial capitals such as Yogyakarta, Palembang, and Medan since 2015. In January 2017, CGV Indonesia has rebranded the company and officially changed its name to CGV Cinemas.
“In 2012, before CGV bought Blitz, the number of moviegoers was 4.26 million, but it increased to 7 million in 2015, 10 million in 2016 and 14.85 million in 2017,” CGV said. “This year, CGV Indonesia has already attracted more than 10 million viewers, breaking our record for the shortest time to reach that landmark.” CGV Indonesia’s sales figures have increased significantly from USD 24 million (IDR 222.5 billion; KRW 26.8 billion) in 2012 to USD 45 million (IDR 577.3 billion; KRW 50.3 billion) in 2016 and USD 63.8 million (IDR 847.7 billion; KRW 71.4 billion) in 2017. Also, the company had only 9 theaters in 2012 but operated 19 locations in 2015, 27 in 2016 and 42 in 2017. As of July
8th 2018, it has 46 theaters and plans to open its 50th branch later this year.
CGV explained that increasing of visitors owed a wide variety of new screening options, including 4DX, ScreenX and SphereX, as well as Velvet Class (equipped with beds) and Gold Class (premium service), and scheduling locally produced films a lot. The number of Indonesian movies screened at CGVs increased from 66 in 2013 to 122 in 2017, and the number of moviegoers, who watch local movies in CGV theaters, jumped from 340,000 (6.1% of total) in 2013 to 4.53 million (30.9% of total) in 2017.