Major Cineplex keeps faith in films of its subsidiaries
AFTER THE film “Luang Phee Jazz 4G” achieved ticket sales of Bt400 million, Major Cineplex Group has high hopes for other Thai movies either produced or funded by its subsidiaries to follow the same path, which will see the group’s revenue grow by 10 per
“We are satisfied with the nationwide ticket sales for ‘Luang Phee Jazz 4G’, a comedy co-invested by our group and Film Guru, which is run by veteran film director Poj Arnon. This film hit the break-even point of Bt50 million within the first day of showing. So we hope the remaining eight films in the line-up will follow suit,” Vicha Poolvaralux, chairman of the executive committee and chief executive officer of Major Cineplex Group, said yesterday.
Apart from its aggressive plan to establish more movie theatres both at home and in neighbouring countries, Thailand’s largest cinema operator is also focusing on producing and supplying local movies through its growing distribution network.
Vicha said that throughout this year, about eight Thai films financially supported by Major’s subsidiaries would be screened. M Thirty Nine (M39) has three in the works, while Talent 1 Movie Studio is also preparing three movies. Transformation Film has another two.
The investment for each movie is about US$1 million (Bt35 million).
To support this movie-production business, recently Major set up a 51:49 joint venture with South Korean company CJ E&M. The deal will also support Major Cineplex’ plan to ramp up the expansion of its cinemas in Thailand and neighbouring Cambodia, Laos, Myanmar and Vietnam (CLMV).
The group currently operates 600 cinemas in 92 locations in Thailand, while in Cambodia in has seven screens and in Laos five. It plans to increase the total number of cinema screens to 1,000 by 2020, of which 900 will be in Thailand and the rest in CLMV countries.
The JV company will produce between 15 and 20 Thai films over the next five years, not just for Thailand but also for screening in Asean and other markets around the world. The average investment in production and marketing activities will be about Bt50 million for each film.
Vicha added that his company expected revenue to grow by at least 10 per cent this year, driven by top blockbuster films. Meanwhile, Thai movies funded by Major will be another key driver for this year’s growth.
