Carnival Cinemas Explained
Carnival Cinemas is a multiplex chain based in India.It is a part of Carnival Group India, a business chain headed by Shrikant Bhasi.
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]
Initiatives
- Carnival Cinemas, had started initiative, direct from farm to home delivery, under brand name "Farmse Fresh", to support as livelihood source for their staff during Covid lockdown.[10] [11] [12]
See also
External links
Notes and References
- Web site: Shrikant Bhasi: We aim to launch 300 screens across India by 2015. The Times of India. 2016-01-21.
- Web site: Blockbuster deal in multiplex space: Carnival acquires Anil Ambani's Big Cinemas for Rs 710 crore. Times of India/Economic Times. 2016-01-21. Raghavendra. Nandini. Barman. Arijit.
- News: Reliance MediaWorks sells Big Cinemas to Carnival Films . . 16 December 2014. 28 July 2017 . P.R. Sanjai.
- News: Maharashtra releases SOPs for theatres, 50% cap and no F&B inside auditoriums . 26 October 2021 . moneycontrol.com . 12 October 2021.
- News: West Bengal: Cinemas set to open with 50% capacity, Covid . 26 October 2021 . Times of India . 30 July 2021.
- News: Carnival Cinemas to double screen count to 1,000 by 2023 . 26 October 2021 . thehindubusinessline.com . 27 August 2021.
- News: Gaurav . Laghate . A sad twist in the tale: Carnival cinemas unable to pay creditors . 26 October 2021 . economic times . 30 August 2021.
- https://filminformation.com/featured/carnival-cinemas-in-deep-trouble-over-again-17-july-2022/
- https://www.filminformation.com/featured/in-interim-relief-to-cine-magic-multiplex-of-bikaner-nclt-restrains-carnival-from-selling-assets-3-april-2023/amp/
- News: From Rajma Chawal to Pindi Chana, cinema chains lay out the spread to welcome . 26 October 2021 . Brandequity.com . 30 September 2021.
- News: Carnival Cinemas unable to repay lenders after COVID-19 impact: Report . 26 October 2021 . moneycontrol.com . 31 August 2021.
- News: multiplexes begin home delivery of food beverages . 26 October 2021 . Times of India . 25 August 2021.
