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.


Advertisement. Scroll to continue reading.

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

Written By

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



The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

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