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Business

New German Cinema Giant in the Making

The German-based Cineplex group is set to emerge as the country’s third-largest movie theater chain, the Frankfurter Allgemeine Zeitung newspaper reported on Monday. According to company sources, Cineplex theaters will have about 15 million visitors per year after five new members join the association of medium-sized movie theater chains that operate under the common brand. Cineplex will have 206 screening rooms at venues in 50 German cities, with expected revenues of €120 million ($151 million) this year. While Germany’s top movie theater chains, Cinestar and Cinemaxx, have been suffering from declining visitor numbers, “Cineplex stands on solid ground,” Rolf Bähr, a member of the German Federal Film Board told the paper. The company mainly has theatres in medium-sized and smaller cities, where it often holds a regional monopoly.

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