Cinemark Holdings Inc. Announced its Expanding In-theater Offerings to Further Innovate Entertainment Experience
In June 2021, one of the world's biggest and most powerful theater chains, Cinemark Holdings Inc., stated that it is expanding its in-theater and online esports offerings to innovate its entertainment experience further. This summer, drop-in gaming will be available to Cinemark patrons in a few theaters, and online esports tournaments will be available thanks to a recent agreement with Mission Control.
To Accelerate Market Expansion, Increase the Number of 3D Theaters and Revenue
The desire for top-notch films and technical developments in visual effects are projected to drive growth in the movie theaters market over the predicted years. Additionally, it is anticipated that the business will develop over the coming years due to the expansion of 3D theaters and the digitization of movies. Additionally, increased per capita income and consumer entertainment spending is anticipated to drive the market throughout the predicted period.
Piracy will Increase Over the Forecast Period, Limiting Market Expansion
Some limitations and obstacles may prevent the expansion of the market. The expansion of the movie theater market is expected to be hampered by several issues, including movie piracy. Instead of purchasing movie tickets, consumers can purchase low-cost pirated film versions on DVDs or the internet.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the movie theater market plan acquisitions to improve their brand recognition globally. For instance, in June 2021, AMC is looking for high-performing locations abandoned during the pandemic as it expands its theater network. It may also need to close some of its underperforming theaters. Additionally, over the past six months, AMC raised almost $2 billion in cash and intended to utilize some of the new money to buy more theaters.
- January 2021: INOX opens three new multiplexes with 11 screens, bringing the total number of multiplexes in India to 150.
List of Key Players Profiled in the Report
- Reel Cinemas
- INOX Leisure
- Cinemark Theaters
- Beta Cineplex ThÃ¡i NguyÃªn
- Galaxy Cinemas
- Omniplex Cinemas
- Regal Entertainment Group
- BandB Theaters
- Harkins Theaters
- SF Bio
- Wave Cinemas
- Landmark Cinemas
- Megaplex Theaters
- National Amusements
- PVR Cinemas
- AMC Theaters
- Cineplex Entertainment
- CGV Cinemas
- Golden Screen Cinemas
- WE Cinemas
- Mega GS
- Lotte Cinema
Further Report Findings
- The market in the Asia Pacific is expected to gain a huge portion of the global movie theater market share in the coming years because of the area's numerous theaters, growing consumer spending, and higher per capita income.
- The region's increased revenue share is also impacted by its having the most screens.
- In Europe, the growth in this region is primarily driven by a rise in consumer expenditure on leisure and recreation.
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