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EXHIBITORS Portugal

The Brazilian Grupo Orient reopens cinemas in ten Portuguese cities

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- These cinemas, located in malls, had closed in January 2013 after the company Socorama was liquidated

The Brazilian Grupo Orient reopens cinemas in ten Portuguese cities

Brazilian company Grupo Oriente, which has been operating for twenty years in Brazil and for six in Angola, decided to invest in the Portuguese market. The cinemas in the Sonae Sierra malls will reopen their doors before the end of the year, an operation, which, in the midst of the economic crisis, will create more than a hundred jobs.  

The process will be progressive: as of Friday, 23 theatres will reopen in Loures, Leiria and Albufeira, after which seven other will reopen in the Madeire and Açores islands before the end of the year.

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These theatres had closed in January after Socorama, which owned seventy theatres all over the country, was liquidated.  

According to Aquiles Mônaco, the president of Grupo Orient, one of the main objectives of this entry into the Portuguese market is to “valorise national cinema and reinforce the relationship with local producers” by making use of elaborate marketing plans and projects to regain and retain viewers.  

This reopening operation is as fascinating as it is risky at a time when Portuguese cinemas just lost, between the beginning of January and the end of July, nearly 200,000 spectators compared to the same period last year, a loss which, according to ICA figures, resulted in a decrease in cinema profits from 40 million from January to July 2012 to 34 million over the past seven months.

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(Translated from French)

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