JRL NEWSWATCH: “The revival of Russia’s cinema industry” – bne Intellinews/ Ben Aris

File Photo of Reel of Film

“Russia’s cinema business is growing three times faster than the real economy, but it’s a bumpy ride. In 2018 Russian movie-goers set a new record with 56mn visits to a cinema to generate a box office take of RUB13.5bn ($200mn). With one Russian in three having a night out in front of the silver screen, the growth of the business is fueling a revival in the whole media sector where Russia has a long and prestigious pedigree. But the sector is still in its adolescence. Following the collapse of the Soviet Union that atomised the cinema business, even the five biggest chains combined still only account for a third of the box office. Moscow cinemas in the country remain stand-alone affairs and more have become intimately wrapped up with the development of big malls in the regions. …”

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