Cineline India Ltd. has made a comeback in the exhibition business under a new brand, MovieMax. It started operations on 1st April, 2022 and currently has 23 operational screens across Bombay, Thane, Nagpur and Nasik. It plans to have more than 75 operational screens during FY23.
The company’s current footprint, including operational and tied-up screens, is as follows:
Number of cinemas: 26
Number of screens: 101
Number of seats: Over 22,600
Number of cities: 17
Rasesh Kanakia, chairman, MovieMax, said, “We are pleased to see a strong traction of footfalls at MovieMax in April and May. Post the pandemic, we are seeing huge opportunities in the film exhibition space, and we will aggressively grow our business.”
Cineline is focusing on tier II and III cities because of lack of entertainment avenues, especially multiplexes, there. It will acquire more screens pan-India, and will also convert single-screen cinemas into multiplexes. The company wants to be a prominent player in the film exhibition business and is targeting to tie up with over 300 screens by FY25.