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CJ CGV, the Korean company that is the world’s fifth largest cinema exhibition firm, says it seeks to operate 10,000 screens in 11 countries by 2020. That implies a tripling of its global footprint.
The company made the announcement at a corporate event on Tuesday in Seoul. It implies huge faith in a sector that is no longer growing or is in retreat in several developed world countries.
Screens - % - Revenue - CJ - CGV
“Securing 10,000 screens worldwide would mean that 86% of our revenue will come from overseas,” said CJ CGV CEO Seo Jung. CJ CGV currently operates 3,456 screens in 463 venues (including 1,117 at 151 venues in Korea), putting it behind the four market leaders China’s Wanda, the U.K.’s Cineworld Group; the U.S.’s Cinemark, and Mexico’s Cinepolis. By the end of this year CJ CGV expects...
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