Mumbai: Multiplex chain Carnival Cinemas on Monday announced a strategic partnership with MovieTime Cinemas.
As part of this alliance, Carnival will offer business management services to MovieTime for operating their existing portfolio of 65 screens and also other upcoming screens as and when they start running.
Carnival will bring in its expertise to tap the synergies between both the exhibitor brands for strengthening their market standing in the cinema exhibition space.
Carnival Cinemas is accelerating towards its 'Vision 1,000 screens' in the next two years and this scaling up will further help it to carve a win-win for all partners involved, said the statement.
Carnival Cinemas is currently present in 120 cities at 162 locations with 450+ screens. With this tie-up, Carnival will now be managing the operations of about 525+ screens across India, it added.
“We are very happy to join hands with MovieTime and explore various ways of value addition for both the entities. We are also looking at synergy in other fields where we both can operate in spaces such as food business," said Chairman Carnival Group, chairman, Shrikant Bhasi.
“We are pretty confident that, this association will help both of us enhance each other’s operational efficiencies," MovieTime Cinemas, chairman, Anil Kapoor.
MovieTime Cinemas presently operates in Maharashtra, New Delhi, Gujarat, Uttar Pradesh, Haryana, J&K, Uttarakhand, Karnataka, Punjab, and Telangana under the owned and leased models.