Cinemex plans to invest US$500 million in Mexico

Cinemex plans to invest over US$500 million in Mexico for its expansion in the next five years, Javier Ezquerro, chief operating officer of the company said.

It is also studying the possibility to purchase new movie complexes in the United States, Latin America, Europe and Asia.

In an interview with EL UNIVERSAL, Ezquerro said that Cinemex has a 35% market share that is expected to grow between 1 and 1.5 percentage points this year.

He said that the company has 282 movie complexes with 2,471 screens in Mexico, and that it will open six complexes more this year.

By 2016 Cinemex expects to have presence in all the states of the country with a focus on cities with 100,000 inhabitants or less that have no movie theaters.

He added that the company recently launched a new concept called Palco Cinemex, in which the first row is a more private space with reclining seats to lay down for two adults and one child, and that it expects to open at least ten such facilities before the end of the year.