After Pyramid Saimira Theatre Ltd, it now is Anil Dhirubhai Ambani Group’s Adlabs Films Ltd to try and make it big in the US cinema exhibition market.
MUMBAI: Theatre-chain operators are going to America to tap the affluent Indian diaspora. After Pyramid Saimira Theatre Ltd, it now is Anil Dhirubhai Ambani Group’s Adlabs Films Ltd to try and make it big in the US cinema exhibition market.
Making its first international foray, Adlabs has entered into multiple agreements with existing theatre owners in the United States to operate some 200 screens.
Precise details on this arrangement have not been made public yet as the deal has been executed by an Adlabs official in charge of developing international operations. The company refrained from divulging details stating it will be made public in due course.
Following the deal, Adlabs will have a footprint across the US covering 28 cities including the key markets in east coast (California is full of Indian techies), midwest and west coast (New York and New Jersey has a substantial Indian population).
These cinema theatres will be showcasing mainstream Hollywood films in addition to movies in the Indian languages viz., of Hindi, Tamil and Telugu.
Earlier cinema theatre chain Pyramid Saimira had bought a chain in Texas in its endeavour to expand into North America.
It acquired FunAsia, which operates 17 screens at four locations in Irving, Richardson, Dallas and Houston that specialise in Indian movies. It also owns a radio station and three banquet halls.
Pyramid is looking at expanding in the US market and future expansion will be funded via Pyramid Saimira Entertainment America.
The company had said that it will invest $75 million to take its US screen count to 75 by the end of the financial year.
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