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UFO Moviez, Y Screens to set up 225 cinema screens in AP and Telangana
MUMBAI: UFO Moviez’s asset-light franchisee venture, Nova Cinemaz, has signed an MoU with Y Screens Entertainment India to set-up over 225 cinema screens in Andhra Pradesh and Telangana by 2020.
As part of the MoU, NOVA Cinemaz and Y Screens together will set-up ‘Y Screens Trade Development Centre’ (YSTDC), which would have two screen miniplex amongst other amenities. The miniplex in the YSTDC centers will be branded and operated as Y Screen Nova Cinemaz.
Said UFO Moviez CEO – Special Projects Vishnu Patel, “There is voracious appetite for quality movie-viewing experience in Andhra Pradesh & Telangana and we wanted to build on that. Associating with Y Screens Entertainment is a good move towards this direction. Through this association we aim to bring great cinema experience for the movie lovers in South India”.
As part of the MoU, Y Screens shall ensure that it facilitates and offers co-operation for establishment of Nova Cinemaz in 15 YSTD centers in the first six months and another 200 cinema screens over three years.
While Y Screens Entertainment will make the investments required for setting up the theatre, Nova Cinemaz shall provide complete branding support and take care of programming of films. Nova shall also take care of deployment of the latest theatrical technologies and amenities which will ensure hi-end movie watching experience for the audience.
UFO Moviez intends to expand its franchisee network of Nova Screens in Tier 3 and 4 cities. Nova Cinemaz believes that luxury makes the movie-viewing experience more desirable.