CNMA - Expects growth in cinema business

CNMA - Expects growth in cinema business Nusantara Sejahtera Raya (CNMA), known as Cinema XXI, is optimistic about increasing revenue and net profit in 2023 and beyond due to a resurgence in public interest in cinema attendance post-Covid-19. The company believes that higher consumer spending capacity and a larger market will lead to increased cinema visits and viewership frequency, driven by a diverse selection of both domestic and international films. Cinema XXI plans to expand its number of screens by approximately 10% annually over the next five years, aiming to open 80 screens in 2023 and 140 screens in 2024 across various cities in Indonesia. Additionally, Cinema XXI seeks to boost growth through innovations and collaborations, offering discounts and promotions such as “cashback” and “Buy 1 Get 1 Free Movie Ticket” partnership with producers, banks, and digital wallet providers, aiming to enhance the moviegoer experience and cater to a broader audience. (Source : Kontan)