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Tag: Carnival Cinemas

  • Carnival Cinemas launches MoviEcard; unlimited films for 30 days at Rs 149

    MUMBAI: It’s a marketing tactic that could probably result in some executives skipping work or getting out of their offices earlier and into the cinema halls between Monday and Thursday. Some home bound ladies who stay glued to their TV sets could also join the queue outside the theatres. Exhibition chain Carnival Cinemas has announced the introduction of India’s first movie subscription service called ‘MoviEcard: Haqq se dekho’ from 22 May which can be used in its cinemas in 60 select cities across India. The card allows them access to unlimited releases in Carnival Cinemas over 30 days. What makes the card appealing is the sticker price of only Rs 149.

    Carnival Cinemas reasoning: in the last few years, the biggest of the films with bankable stars have seen only 2 to 4 per cent of the total population watching the film on the big screen. The ticket prices have compelled the majority to stay away from the big screen and await the premiere of their beloved movie stars’ films on television. The choice of watching a grandeur on 5-inch phone screen or satisfying the urge to see the latest movie’s pirated version may be available, but it can never replace the experience of the 70 mm screen.

    With this visionary outlook, Carnival Group promoter & chairman Shrikant Bhasi, aims to‘democratize movie viewing experience’ by making it accessible to all movie lovers across the country. The intent is to be able to offer month long cinema entertainment at the cost of a single movie ticket.

    Says Bhasi: “At Carnival Cinemas, MoviEcard fits in perfectly with our vision of making movies accessible to every Indian. Over the years we have noticed that while people would like to enjoy a great film at the nearest Cinema Theatre, the regular ticket prices have always acted as a deterrent. Our endeavor with this MoviEcard is to break the entry barrier and allow all our patrons to enjoy as many movies as they wish to watch at the cost of one movie ticket. In order to be able to give this benefit to patrons all over the country, we are increasing our footprint rapidly and aim to reach 1000 screens by 2018.”

    Adds MoviEcard Sales spokesperson Dina Mukherjee: “MoviEcard is a one of a kind program, that intends to shift the audience from 5” screens to the real magic of 70mm silver screens. Today only 2% of the overall population actually visits movie theatres. We intend to democratize the way we watch new movies or look forward to original content. Our intent is for every movie to get 60-70% occupancy, every Indian to be able to watch all new releases and every movie lover should carry a MoviEcard to enjoy their favorite stars in their full glory. The card has been designed to integrate all aspects of entertainment including F&B with nominal costs so that everyone can enjoy an enriching experience.”

    Customers can purchase and renew the MoviEcard within no time either by logging onto www.moviecardindia.com or visiting the nearest Carnival Cinemas. One can also obtain the card by calling at toll free number 1800 102 5060 and mobile number +91 7710097900, Carnival’s helpline numbers.

  • Pramod Arora becomes Director in Carnival Cinemas, confident of 1000 screens by next year

    Pramod Arora becomes Director in Carnival Cinemas, confident of 1000 screens by next year

    MUMBAI: Pramod Arora, who has vast experience in the film and financial fields, has joined as Director of Carnival Cinemas, the Carnival Group has announced.

    Arora joins Carnival Cinemas from Everstone Capital Advisors Pvt Ltd where as a Director he helped steer consumer facing businesses of the company. Earlier, he spent 18 years at PVR Cinemas as their Group President. He has also served as the Chief Operating Officer at Oberoi Realty and was instrumental in the growth strategy of the company in various real estate asset classes.

    Carnival Group chairman Dr. Shrikant Bhasi said, “I am extremely confident in Pramod’s capabilities and am positive that he will add immense value to our cinema business. He will play a pivotal role in ensuring that we accomplish Carnival’s vision of 1000 screens by 2017.”

    Arora said on his appointment, “I am excited to be a part of the Carnival family and witness yet another revolution in the making from Shrikant! I look forward to the challenge of executing Carnival’s vision of a 1000 screens by 2017. My mandate is put the growth of Carnival Cinemas on the fast track and make Carnival Cinemas one of the most preferred brands in India and I am confident that we will execute our plans well.”

    He added: “In the past, I have held executive positions where I helped develop cinemas for classes. Carnival Cinemas is the only enterprise forging ahead and creating cinemas for the masses. As an independent Director, I also look forward to learn, guide and mentor the team and together with our CEO PV Sunil, we will strive to make Shrikant’s audacious dream of 1000 screens a reality.”

    Arora is credited with expanding the Delhi based company PVR Cinemas with a single multiplex four-screen company to a powerhouse of 500 screens by means of organic growth and acquisitions.

    Carnival Cinemas acquired Anil Ambani’s Big Cinemas in December 2014. The Group also acquired Glitz Cinemas, which was a part of Capital 18; a subsidiary of Mukesh Ambani’s Network 18 Media in 2015 and acquired HDIL’s multiplex chain Broadway Cinema.

    Carnival Cinemas has presence in 19 states including Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Jharkhand, Karnataka, Kerala, Tamil Nadu, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, West Bengal, Telengana, Uttarakhand and Chandigarh.

  • Pramod Arora becomes Director in Carnival Cinemas, confident of 1000 screens by next year

    Pramod Arora becomes Director in Carnival Cinemas, confident of 1000 screens by next year

    MUMBAI: Pramod Arora, who has vast experience in the film and financial fields, has joined as Director of Carnival Cinemas, the Carnival Group has announced.

    Arora joins Carnival Cinemas from Everstone Capital Advisors Pvt Ltd where as a Director he helped steer consumer facing businesses of the company. Earlier, he spent 18 years at PVR Cinemas as their Group President. He has also served as the Chief Operating Officer at Oberoi Realty and was instrumental in the growth strategy of the company in various real estate asset classes.

    Carnival Group chairman Dr. Shrikant Bhasi said, “I am extremely confident in Pramod’s capabilities and am positive that he will add immense value to our cinema business. He will play a pivotal role in ensuring that we accomplish Carnival’s vision of 1000 screens by 2017.”

    Arora said on his appointment, “I am excited to be a part of the Carnival family and witness yet another revolution in the making from Shrikant! I look forward to the challenge of executing Carnival’s vision of a 1000 screens by 2017. My mandate is put the growth of Carnival Cinemas on the fast track and make Carnival Cinemas one of the most preferred brands in India and I am confident that we will execute our plans well.”

    He added: “In the past, I have held executive positions where I helped develop cinemas for classes. Carnival Cinemas is the only enterprise forging ahead and creating cinemas for the masses. As an independent Director, I also look forward to learn, guide and mentor the team and together with our CEO PV Sunil, we will strive to make Shrikant’s audacious dream of 1000 screens a reality.”

    Arora is credited with expanding the Delhi based company PVR Cinemas with a single multiplex four-screen company to a powerhouse of 500 screens by means of organic growth and acquisitions.

    Carnival Cinemas acquired Anil Ambani’s Big Cinemas in December 2014. The Group also acquired Glitz Cinemas, which was a part of Capital 18; a subsidiary of Mukesh Ambani’s Network 18 Media in 2015 and acquired HDIL’s multiplex chain Broadway Cinema.

    Carnival Cinemas has presence in 19 states including Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Jharkhand, Karnataka, Kerala, Tamil Nadu, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, West Bengal, Telengana, Uttarakhand and Chandigarh.

  • Carnival Cinemas targets 1000 screens by 2016; to foray into film production & distribution

    Carnival Cinemas targets 1000 screens by 2016; to foray into film production & distribution

    MUMBAI: Carnival Cinemas, which has taken the acquisitions route to spread its footprints across the country, is eyeing a total screen count of 1000 by 2016. The multiplex chain currently operates 300 screens in over 82 cities and is looking to pump in a sum of Rs 800 – 900 crore to reach the 1000 screen milestone.

     

    What’s more, sources close to the development inform Indiantelevision.com that Carnival Cinemas is also aggressively making in-roads in film production and distribution. The group has already started working on three South Indian film projects and has aspirations of making their first Bollywood movie in next three – six months. However, while the company is in talks with several directors, it is yet to zero in on its first commercial script.

     

    Carnival Cinemas has roped in Ssarita Singh as business head of its motion pictures division to spearhead the production initiatives.

     

    The Shrikant Bakshi owned Carnival Cinemas recently acquired the multiplex business of Housing Development and Infrastructure Ltd (HDIL) for a little over Rs 100 crore. It has also lapped up Big Cinemas multiplex chain from Anil Ambani’s Reliance MediaWorks for approximately Rs 700 crore. The chain also pocketed Star Gaze’s Glitz Cinemas from Mukesh Ambani-controlled Network 18 Media and Investments Ltd.

  • Reliance Mediaworks completes sale of multiplex biz to Carnival

    Reliance Mediaworks completes sale of multiplex biz to Carnival

    MUMBAI: Reliance MediaWorks (RMW), a part of Reliance Group, has completed the transaction for sale of its multiplexes business to Carnival Cinemas Ltd.

     

    Reliance MediaWorks’ multiplex chain Big Cinemas had approximately 250 screens across the country.

     

    The entire proceeds for the sale of multiplex business have been duly received by RMW from Carnival Cinemas, and will be used to reduce Reliance Capital’s leverage by approximately Rs 700 crore, through a combination of transfer of debt of RMW and infusion of cash proceeds. 

     

    Reliance Capital executive director Sam Ghosh said, “We are happy to announce closing of this transaction with Carnival Group, which will reduce our overall leverage by approx. Rs 700 crore. This will lower our debt equity ratio to a conservative 1.75:1, amongst the lowest in the financial services sector in India.”

     

    “The transaction is in furtherance of Reliance Capital’s stated objective of focusing purely on its core financial services businesses, significantly reducing exposure to non-core investments in the media and entertainment sector, and reducing overall debt,” he added.

     

    RMW had sold its multiplex business to Carnival Cinemas in December last year, and the transaction has now been closed upon receipt of all approvals. The deal excludes real estate owned by RMW at Imax Wadala and other properties, which are intended to be separately monetized for an approximate value of Rs 200 crore.

  • Yash Raj Films partners Rentrak for worldwide box office collections

    Yash Raj Films partners Rentrak for worldwide box office collections

    MUMBAI: Yash Raj Films (YRF) has entered into an agreement with Rentrak, which offers real-time box office results.

     

    YRF has appointed Rentrak for e-grosses (real time collection of box office collections) from theatres worldwide. This association takes ahead the already relationship between the two companies, who have worked in the overseas market since 1998.

     

    Rentrak’s reporting includes data from clients in the USA, UK, UAE and GCC, China, Australia and New Zealand.

     

    This also paves the way for bringing the much needed transparency to the box office reporting system in the country. Earlier this year, Rentrak had also inked box office measurement deals with India multiplex chains Carnival Cinemas and Cinepolis.

  • Carnival Cinemas ropes in Saurabh Saxena as COO

    Carnival Cinemas ropes in Saurabh Saxena as COO

    MUMBAI: Carnival Cinemas has appointed Saurabh Saxena as its chief operating officer (COO).

     

    With over 24 years of experience in the hospitality and entertainment industry, Saxena has previously worked in multiplex companies such as PVR, Fame Cinemas (now Inox Movies), Big Cinemas, Cinemax, Wave Cinemas and Sahara Entertainment. Most recently he was with Sahara India as head of entertainment.

     

    Saxena said, “Carnival is a magnificent company with an incredible team, great vision and now on an advantageous position in the film exhibition sector. It is a great honour to join its leadership team and have the opportunity to build on its success.”

     

    After acquiring HDIL’s Broadway, Reliance’s Big Cinemas and Glitz Cinemas, Carnival now has 346 plus screens operating in the country. It has a vision to have 1000 screens in next two years. With presence in metro cities along with tier 2 and tier 3 cities, Carnival Cinemas aims to offer better movie watching experience across the nation.

     

    It is currently present in Kerala, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh, Uttar Pradesh and West Bengal.

  • Rentrak inks deal with India’s Carnival Cinemas for box office measurement

    Rentrak inks deal with India’s Carnival Cinemas for box office measurement

    MUMBAI: Box office measurement body Rentrak is slowly expanding its footprint in India, where until now box office numbers haven’t had a systematic tracking system. Rentrak, which recently inked a deal with India’s Cinepolis multiplex chain, has now joined hands with the Mumbai based Carnival Cinemas. 

     

    Rentrak will implement its box office reporting system across Carinval Cinemas properties.

     

    Carnival Cinemas with 300 screens currently ranks as India’s third-largest exhibition chain after PVR and Inox. The company plans to increase its screen count to more than 1,000 screens across India by 2017, including theaters in small cities throughout South India.

     

    It may be recalled that last year Carnival Cinemas acquired Big Cinemas, which was the multiplex business of Reliance Mediaworks.

     

    “We are excited to expand our measurement in India and work with Carnival Cinemas as they continue to become one of the top players in the market. Rentrak is committed to expanding our box office measurement throughout India to help their film production be more transparent,” said Rentrak president of global movie services Ron Giambra.

     

    “We are delighted to partner with Rentrak, the global leaders in box office measurement to herald an era of precise box office information in the Indian movie industry. Carnival, while striving to provide the best possible movie watching experience to its viewers, also strives to uphold the global best practices in all aspects of film exhibition. I am sure that our synergy will add value to the industry as a whole,” added Carnival CEO Group P.V Sunil.

     

    Rentrak has been measuring box office receipts in India since October 2014. The first film it tracked was Rajkumar Hirani and Aamir Khan’s PK, which recently became the country’s highest-grossing film of all time.

  • Network18 enters into an agreement with Carnival Cinemas

    Network18 enters into an agreement with Carnival Cinemas

    MUMBAI: Multiplex chain Carnival Cinemas after having a great 2014 has set the right tune for the new year. While it was in December 2014 when Reliance MediaWorks (RMW) sold its multiplex business to Carnival Cinemas, 2015 has begun with Network 18 Media & Investments entering into an agreement with the multiplex chain. 

    The agreement has been done through Network 18’s venture capital arm, Capital18 Fincap. Network18 with this will divest its entire stake in Stargaze Entertainment, which operates multiplexes in emerging urban centers of India under the brand name ‘Glitz Cinemas.’ 

    Capital 18 is a majority shareholder at Stargaze and the transaction, expected to be completed within the current financial year, will result in a profitable exit for Capital18.

    It can be noted that the proposed transaction with Reliance MediaWorks had placed Carnival amongst the top three multiplex operators in the country, with over 300 screens nationwide.
    The agreement with Network 18 is yet another move by Carnival Cinemas to reach its target of 1,000 screens by 2017. 

  • Reliance MediaWorks sells multiplex business to Carnival Cinemas

    Reliance MediaWorks sells multiplex business to Carnival Cinemas

    MUMBAI: Reliance MediaWorks (RMW) and Carnival Cinemas have announced the signing of definitive agreements for sale of RMW’s multiplexes business to Carnival Cinemas in the largest ever deal in the sector in India.

    The proposed transaction will catapult Carnival to the ranks of the top three multiplex operators in the country, with over 300 screens nationwide, and set the company firmly on its path to achieve leadership in the business.

    Carnival Group chairman Shrikant Bhasi said, “I am thankful to Reliance Group chairman Anil D. Ambani for his support to a first generation entrepreneur like me, and in facilitating this transaction with Carnival Cinemas in preference to other leading cinema chains. We are targeting to achieve 1,000 screens by the year 2017, and look forward to the continued support of Reliance Group in our future growth.”

    Reliance Capital CEO Sam Ghosh added, “We are delighted to begin a long term relationship with the rapidly growing Carnival Group, through the sale of the multiplexes business of Reliance MediaWorks to them. We look forward to supporting the Group in their future growth initiatives in India and overseas.”

    “The proposed transaction is in furtherance of Reliance Capital’s stated objective of focusing purely on its core financial services businesses, significantly reducing exposure to non-core investments in the media and entertainment sector, and reducing overall debt,” added Ghosh.

    The transaction will reduce Reliance Capital’s leverage by approximately Rs 700 crore, through a combination of transfer of debt of RMW and infusion of cash proceeds.

    The deal excludes real estate owned by RMW at IMAX Wadala and other properties, which are intended to be separately monetised for an approximate value of Rs 200 crore.

    Reliance Capital will have the option to acquire a pre IPO minority stake in Carnival Cinemas at an appropriate discount, upon eventual listing of the Company.

    “We are very serious about exhibition business and are moving in an organic way also. Carnival Cinemas will not only make their presence in tier I but would lay emphasis for strong presence across tier II & III cities. We want to make Cinemas synonymous to Carnival” added Bhasi.

    The proposed transaction is subject to necessary statutory and other approvals and is expected to be closed within the current financial year.

     EY are deal advisors to Reliance Group, and KPMG are acting as deal advisors for Carnival Group.