Carnival Cinemas

Last updated

Carnival Cinemas
Company type Private
Industry Entertainment
Founded2010;15 years ago (2010) in Angamaly, Kochi, India
FounderDr. Shrikant Bhasi
Headquarters
Mumbai, Maharashtra
,
India
Area served
Key people
Mubashir MB Malik
(Chief Growth StrategistCGS)
Parent Carnival Group
Website www.carnivalcinemas.com

Carnival Cinemas is a multiplex chain based in India.It is a part of Carnival Group India, a business chain headed by Shrikant Bhasi.

Contents

Growth and Expansion

Carnival Cinemas' first theatre in Angamaly was built on the top floor of a bus terminal complex. [1] Further the company expanded to Kerala and Tamil Nadu, and eventually to the rest of India.

In 2014 Carnival Cinemas acquired HDIL's Broadway Cinema chain, which had screens across Mumbai, Delhi and Indore. [2] In 2015,Carnival Cinemas acquired Big Cinemas by purchasing the 100% stake of Reliance MediaWorks Ltd for around ₹700 crores. [3] Subsequently, all the Big Cinemas multiplex screens were re-branded as Carnival Cinemas by 2016. [3] As a result of the merger,Carnival had operations in 20 states: Kerala, Chhattisgarh, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra, [4] Madhya Pradesh, Rajasthan, Punjab, Gujarat, Haryana, Delhi NCR, Jharkhand, Uttar Pradesh, Uttarakhand, West Bengal, [5] Assam, Bihar, Himachal Pradesh and Goa with 470 screens in 120 locations.

There were plans to double the screen count to 1000 screens by 2023. [6]

Decline

Due to the COVID-19 pandemic,Carnival Cinemas was unable to continue operations in a sustainable manner and ended in debt. [7] This has forced closure of operations in many cities and several petitions against the cinema chain for insolvency. [8] [9]

End of Era

All Carnival Cinemas locations across India have been permanently closed , marking the end of the brand’s operations nationwide. Several former Carnival Cinemas properties have since re-opened under new management, including chains such as INOX-PVR, MovieMax and Miraj Cinemas . Additionally, some venues have been taken over by developers who have relaunched them as independent, standalone cinemas under new names.

It's official website is also non-operational. However, with the same brand Singapore's Carnival Cinemas is still open along it's website i.e. www.carnivalcinemas.sg

Initiatives

See also

References

  1. ↑ "Shrikant Bhasi: We aim to launch 300 screens across India by 2015". The Times of India. Retrieved 21 January 2016.
  2. ↑ Raghavendra, Nandini; Barman, Arijit. "Blockbuster deal in multiplex space: Carnival acquires Anil Ambani's Big Cinemas for Rs 710 crore". Times of India/Economic Times. Archived from the original on 29 December 2014. Retrieved 21 January 2016.
  3. 1 2 P.R. Sanjai (16 December 2014). "Reliance MediaWorks sells Big Cinemas to Carnival Films". Live Mint . Retrieved 28 July 2017.
  4. ↑ "Maharashtra releases SOPs for theatres, 50% cap and no F&B inside auditoriums". moneycontrol.com. 12 October 2021. Retrieved 26 October 2021.
  5. ↑ "West Bengal: Cinemas set to open with 50% capacity, Covid". Times of India. 30 July 2021. Retrieved 26 October 2021.
  6. ↑ "Carnival Cinemas to double screen count to 1,000 by 2023". thehindubusinessline.com. 27 August 2021. Retrieved 26 October 2021.
  7. 1 2 Gaurav, Laghate (30 August 2021). "A sad twist in the tale: Carnival cinemas unable to pay creditors". economic times. Retrieved 26 October 2021.
  8. ↑ https://filminformation.com/featured/carnival-cinemas-in-deep-trouble-over-again-17-july-2022/
  9. ↑ https://www.filminformation.com/featured/in-interim-relief-to-cine-magic-multiplex-of-bikaner-nclt-restrains-carnival-from-selling-assets-3-april-2023/amp/
  10. ↑ "From Rajma Chawal to Pindi Chana, cinema chains lay out the spread to welcome". Brandequity.com. 30 September 2021. Retrieved 26 October 2021.
  11. ↑ "Carnival Cinemas unable to repay lenders after COVID-19 impact: Report". moneycontrol.com. 31 August 2021. Retrieved 26 October 2021.
  12. ↑ "multiplexes begin home delivery of food beverages". Times of India. 25 August 2021. Retrieved 26 October 2021.


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