Nova Cinemas to Focus on South Market

Nova Cinemas plans to open 3,000 screens in the next four years through its franchise model. Nova is the theatre arm of Mumbai-based UFO Moviez. The company has entered into a joint venture agreement with an exhibitor in Kerala to develop three cinemas and 75 in the coming years. The company had partnered Y Screens to establish 200 screens in Andhra Pradesh and Telangana. There are two models the company is working on – greenfield and brownfield.
Greenfield projects will be a mixed use complex with both commercial and entertainment activities consisting of two screens with 400 seats. While the company will bear the cost of building and providing technology services, the franchisees will have to provide the land.Brownfield projects will mostly be renovations and refurbishing of old cinema halls, which will suit the South market better as it has more cinemas than the North.

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