Kanakia Group’s Cineline India has recently rebranded itself to MovieMax and re-entered the film exhibition industry with the launch of nine properties at prime locations across Maharashtra, including Sion, Andheri, Goregaon, Kandivali, Mira Road in Mumbai; Eternity Mall and Wonder Mall in Thane; The Zone (Nashik), and Eternity Mall (Nagpur).
Cineline had been in the film exhibition business since 1997. As they have now forayed back into the film exhibition business, they have a redefined objective.
In a conversation with IndianTelevision.com Kanakia Group chairman Rasesh Kanakia speaks about the rebranding and its objective, growth, the path ahead and more.
Edited excerpts:
On rebranding as Moviemax
Cineline has rebranded itself to MovieMax with a vision to transform the multiplex landscape as the market shifts from single screens to multiplexes. They will be looking at monetising these opportunities to expand across India while also reestablishing a foothold in Maharashtra.
Explaining how Moviemax will add value to the business of Cineline, Kanakia says, “MovieMax will be the perfect launchpad for us as we add value to our windmill business and our retail estate business. Moviemax will offer a superior viewing experience, and premium and 3D screenings.”
“We have about 75 screens pan India with over 16500 seats,” he highlights.
“This gives us a clear opportunity and space to leverage our expertise in providing a quality experience to our audiences. We additionally plan to keep acquiring more screens in the coming months and intend to build a strong consumer-centric brand in this industry,” he tells.
Aiming to be an organised pan India player
Cineline has been in the industry for quite a long time. Talking about the future plans, he explains, “MovieMax expansion plans are based on the emerging opportunity for the cinema exhibition business’s growth potential.”
“With many single screens giving way to multiple screens, we want to be an organised pan India player,” he expresses.
“As a business, we also want to be asset-light and will monetise these assets to reduce debt. We expect about Rs 350 to 450 crore through our monetisation efforts, which will further boost our plans to acquire additional screens in the future,” adds Kanakia.
Expecting to witness a growth in D2C and B2C brands
He feels that advertisers have known the value of branding that cinema houses provide. “We have leveraged this aspect to enable brands to channel their campaign message to the target audience effectively,” he adds.
Highlighting the advertiser's interest in cinema advertising, he says, “from various sectors such as smartphones, audio peripherals, healthcare, and fitness brands are engaging with the audiences through in-cinema advertising. Even hygiene and jewellery brands are creating cross-functional promotional campaigns to build brand awareness among moviegoers.”
“Overall, we are expecting to witness a growth in D2C and B2C brands investing in our business,” notes Kanakia.
Future of film exhibition and gaming businesses
Kanakia thinks both film exhibition and gaming businesses are set to revive and revolutionise the entertainment sector.
“Post the pandemic, the relaxation in restrictions has boosted the popularity of theatres and gaming zones in the shopping malls and entertainment hubs. As most of the sectors are witnessing signs of resurgence, we are expecting massive growth across both these segments in the coming years,” he asserts.
On Cineline gaming business
“Our gaming business is growing exponentially and we are optimistic about positive growth as the lockdown restrictions have been lifted. Giggles - The Gaming Zone has been an outcome of our vision to provide wholesome gaming and family entertainment. Giggles offer indoor and outdoor gaming experiences along with a premium choice of food and beverages. We want to expand this business from our four outlets to many more in some of our future multiplexes at different locations in India,” he shares.
Talking about the gaming industry further, he says, “the gaming industry is at the cusp of a turnaround. With the boom of the OTT and unlimited access to online content, gaming as an entertainment platform also has evolved. At Giggles, we have a blend of indoor and outdoor games. We are investing in digital technology to revolutionise the gaming zones and provide a rich experience for the entire family.”
“We are infusing a premium touch to our gaming zones with all age groups being able to participate in fun-filled games and activities,” he highlights.
In preparations to prevent another Covid wave
“Cinema business was the worst hit by the pandemic. To prevent another Covid wave, Cineline businesses are keeping a close eye on the regulations and protocols that are being disseminated to the public. In regards to precautionary efforts, all our theatres and gaming zones maintain a high standard of hygiene and round-the-clock sanitisation efforts are in place. Moreover, the health and safety of our patrons are of prime importance and we are ensuring that our preparations to combat Covid-19 are in line with the government’s directives,” he concludes.
