South Korean CJ CGV is going to occupy at least 40% of the cinemas market in Russia | Advertising Marketing PR

The network intends to become the largest player in the Russian market and manage more than 150 cinemas

Depositfotos South Korean network of cinemas CJ CGV intends to become the largest player in the Russian market and manage more than 150 cinemas. Thus, the company plans to occupy not less than 40% of the market in Russia, Vedomosti reports with reference to the company's vice-president Breta Kim. The amount of investment in the Russian market is not reported. Bret Kim stressed that Russia has a huge potential. "A few years ago it was the fifth or sixth territory for film. And even now, after the sharp fall of the ruble, it remained on the 15th place, so we really like your market, "he added. However, in his opinion, there are too many Hollywood films on the Russian market and it is necessary to increase the share of Russian paintings, which will attract more viewers to the cinemas. "How I chose the countries, including Russia. First, the country should be larger than Korea, by territory and population. Secondly, the country should be rich, but not too much, so that people do not have temptations or too many ways to spend time. Third, the potential of the film distribution market is important … Fourth, the number and quality of cinemas in the country is important. We do not want to start from scratch – it is necessary that the market has the infrastructure that we will develop. We regret only that we did not come to the Russian market before, "the vice-president of the Korean company said. CJ CGV, according to the number of cinemas in the world, occupies the 5th place and has been engaged in expansion beyond South Korea for more than 10 years. The company operates in the US, Vietnam, Turkey, China and other countries. In October 2017, she established a joint company with the Russian developer ADG Group, and now plans to create cultural district centers on the basis of 33 cinemas in Russia.

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