wordpress blog stats
Connect with us

Hi, what are you looking for?

Pyramid Saimira Winds Up Film Distribution In India; Defers Reel Acquisition

Citing high inflation, slackening of demand for entertainment and constraints of margins in leisure industry, Pyramid Saimira is tightening its belt.

The company, which has digital film distribution operations (details), has informed the BSE that given the un-viable cost structure of the Hindi film industry, they are closing down 33 screens and winding up their film exhibition division in Western and Northern parts of India. Reuters quotes Chairman P.S. Saminathan: “We were losing money there, so we withdrew from these areas. We expect the (filmed entertainment) industry will not grow much this year.”

That’s a warning sign for the films business, and and some food for thought for the Digital Distribution business. Remember that Airtel is exploring the Digital Distribution business, and the only two competitors they have in India are UFO Moviez and Pyramid Saimira.

Pyramid Saimira has also decided to drop plans for acquisitions in UK and Europe. Earlier this month, they were reported to be in talks with UK’s Reel Cinema. Reel operates 13 cinemas in the UK – with mostly cult films – and has plans to open seven more in the next two years. Saimira may also defer its $75 million fundraising plans, adds Reuters.

Operations in Malaysia and the USA will continue, given better profitability, as will their film exhibition business in China: they had inaugurated their first theatre in China last week, as a part of a joint venture with the Ministry of Culture.


UFO Moviez Group Buys Defunct VoD Service MovieBeam
Airtel Considering The Digital Cinema Business

Advertisement. Scroll to continue reading.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....


By Anand Venkatanarayanan                         There has been enough commentary about the Indian IT...


By Rahul Rai and Shruti Aji Murali The Indian antitrust regulator, the Competition Commission of India (CCI) has a little more than a decade...


By Stella Joseph, Prakhil Mishra, and Surabhi Prabhudesai The recent difference of opinions between the Government and Twitter brings to fore the increasing scrutiny...


This article is being posted here courtesy of The Wire, where it was originally published on June 17.  By Saksham Singh The St Petersburg paradox,...

You May Also Like


Music label, film company, and hardware seller Saregama’s operational revenues grew by 60% year-on-year to Rs 150 crores for the quarter ended December 31,...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ