Top Story

e4m_logo.png

Home >> Marketing >> Article

Pyramid Saimira bullish on China; forms new entity to operate theatres, distribute films

22-April-2008
Font Size   16
Share
Pyramid Saimira bullish on China; forms new entity to operate theatres, distribute films

Chennai-based Pyramid Saimira Group has signed a Memorandum of Understanding (MoU) with the China Society Music Research Board, which is under the Ministry of Culture of the People’s Republic of China, to form the Jiangsu Pyramid Longzhe Group. The newly-formed entity will operate theatres, distribute films and engage in other entertainment, arts and cultural activities in China.

Commenting on the development, PS Saminathan, Managing Director, Pyramid Saimira Group, said, “We are looking to invest close to Rs 400 crore in the Jiangsu Pyramid Longzhe Group in the first year of operation itself, which will be deployed in exhibition / distribution / television content / music and production infrastructure seeding. Through this venture, we will create a huge theatre chain network / food courts / gaming parlours and offer other entertainment services. This entry will strengthen the growing exhibition and content business of our Group and will, in a very short time, make us the largest exhibitor in the world.”

Venkatakrishnan, COO, Jiangsu Pyramid Longzhe Group, said, “We are extremely happy to partner with the China Society Music Research Board to bring in international entertainment content into China. We already have an established track record in operating multiplexes and stand-alone theatres in India, the US, Singapore and Malaysia. We are confident that we will now be able to leverage and extrapolate our expertise in the larger market of China.”

Commenting on the cultural cooperation agreement, Luo Shi Zheng, Assistant Secretary-General, The Association of Social Music Research in China, said, “China is actively pursuing strong cultural ties and would like to strengthen Sino-Indian people to people cultural exchange and cooperation.”

Tags

Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

GroupM is in talks with several digital clients currently with its other agencies to shift them to Essence, which is looking at a major expansion plan in 2018

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

NewsCode, a hyper local online news platform was launched last night with a network of over 350 local reporters in Karnataka and Jharkhand. Apurv Swarup, the co-founder talked to Exchange4Media about his vision

Voot, which is producing almost 4X content on an overall basis on the reality drama, is gunning for big numbers both on viewership and advertising revenue

YouTube today released its annual year-end edition of the YouTube Ads Leaderboard 2017 capturing the most celebrated ads that received maximum views, shares, and love from audiences across India

Real world study of Appier's network shows significant benefits of AI over traditional rule-based systems