The economic slowdown, together with the growing supply of audiovisual content platforms, explains part of the downward trend that shows the business in Costa Rica since 2016.
Businessmen in the sector believe that another factor affecting the decline in business is that they depend on the production of high quality movies or blockbusting, usually produced by U.S. firms.
The Costa Rican chain CitiCinemas has acquired ten theaters from its competitor CCM Cinemas and says it will invest $3.5 million in renovations.
With the transfer of the operation of 10 cinemas to the company CitiCinemas "... the Local cinema industry is more competitive than ever. CCM Cinemas is now tied, in terms of the number of screens, with the Mexican company Cinepolis (29), CitiCinemas ranks second (17), Cinemark is in third place (16) and Nova Cinemas in the fourth with 7."
Four companies have announced the investment of at least $14 million in the opening of 31 new cinemas during 2015.
The expansion of existing facilities and opening of new ones in different parts of the country is in response to the steady increase in cinema going as in 2013 alone 6 million people attended movie theaters in the country, representing an increase of 15% compared to number of tickets sold in 2011.
In Costa Rica more and more people are becoming clients of cinemas, having increased their visits by 30% since 2007.
National cinemas sold 5,172,420 tickets in 2011, 1% more than in 2010 and 30% more compared with 2007, according to data from the local film distributor, Discine.
Theater chains are vying for audiences with the opening of new facilities, refurbishment of existing ones and new technology.
Cinemark corporate executives from Nova Cinemas, Cinemas Cinépolis and CCM, which together have 78 theaters in the country, made references to the investment plans.
The American chain will open 6 movie theaters with 3D technology.
The rooms will be located in the Eskala Roosevelt shopping center which will open in June. According as the Cinemark Guatemala manager, Javier Alfaro: "With 3D technology, the public will be able to feel as if the image is coming off the screen and it will make the moviegoer a part of the movie.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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