/2024/03/12/235109452p.jpg)
CORPORATE STRATEGIC - JAKARTA. JAKARTA. As the economy recovers in the aftermath of the Covid-19 pandemic, the cinema business is experiencing a resurgence. Cinema entrepreneurs are seizing the potential of this industry, continuing to expand throughout this year.
PT Graha Layar Prima Tbk (BLTZ) or CGV Cinemas believes that the Indonesian cinema industry is in the process of recovery, aiming to return to its pre-pandemic performance.
This recovery is in line with the economic rebound and the public's purchasing power, supported by an increasing line-up of films and audience numbers, leading to an overall improvement in the cinema business performance.
Graha Layar Prima's Chief Commissioner, Bratanata Perdana, explains that the cinema business run by CGV Cinemas clearly has a bright prospect in the future. The potential of the cinema business is still vast, considering that Indonesia has a very small ratio of cinema screens to population.
The number of screens per 100,000 population in Indonesia is around 0.76. On the other hand, neighboring countries like Thailand have a higher cinema screen ratio of about 1.7, Malaysia 3.6, and Singapore 4.6.
“There are still many cities in Indonesia that do not have cinemas, so the cinema business in Indonesia still has a large room for growth,” Brata said recently.
CGV Cinemas will undoubtedly continue to expand in Indonesia. In 2023, CGV Cinemas opened 3 new locations with a total of 14 screens. Currently, CGV Cinemas operates in 64 locations with 422 screens across Indonesia.
What sets CGV Cinemas apart from other cinema networks is the company's concept of Culturplex. Through this concept, CGV Cinemas offers not only a place to watch movies but also a venue for visitors to enjoy a variety of entertainment and art activities, such as music concerts, gala premieres, and places to play and exercise.
In addition, CGV Cinemas also offers a wide selection of auditoriums for viewers. From Private Boxes that can be rented by viewers to watch films exclusively in private rooms, 4DX for an immersive viewing experience with various effects, ScreenX with a 270-degree screen, Gold Class for a premium viewing experience using full-reclining seats equipped with footrests, to Velvet Class for a viewing experience on a sofa bed.
Meanwhile, PT Nusantara Sejahtera Raya Tbk or Cinema XXI (CNMA) also plans to continue expanding this year. The company's Secretary and Finance Director, Tri Rudy Anitio, stated that Cinema XXI has allocated a capital expenditure of about Rp775 billion for business expansion in 2024, including the construction of cinemas and the addition of about 100 screens spread across various cities/regencies in Indonesia in 2024.
"Cinema XXI's strategy will focus on more productive asset and liability management, more varied F&B business development, and the implementation of ESG principles in various business lines to realize our commitment to continuously increase added value," he explained.
Anitio expressed his optimism about the development of the entertainment industry in Indonesia, especially the cinema and film sector. This is supported by the high public interest in watching films, and therefore the potential for growth in the number of cinema screens in Indonesia is still very large. Cinema XXI is committed to always providing the best and uncompromising viewing experience at affordable prices for all Indonesian people.
