UFO Moviez plans to install digital technology in US screens
UFO Moviez plans to install digital technology in 2,000 screens in US within a year
Premium(Ranjit Thakur, chief executive of subsidiary Scrabble Entertainment, has been relocated to the US to look after business in the region.)
Mumbai: UFO Moviez India Ltd, a satellite-based digital cinema chain, plans to install its digital technology in 2,000 screens in US within a year, said Kapil Agarwal, joint managing director.
Set up in 2005, UFO has around 5,000 screens in India, West Asia and Israel. In 2011, UFO bought a controlling stake in rival Scrabble Entertainment Ltd.
“In the US, a small fragment of cinema halls still use traditional reels. We see it as an opportunity," Agarwal said.
Ranjit Thakur, chief executive of subsidiary Scrabble Entertainment, has been relocated to the US to look after business in the region.
UFO plans to expand its footprint in markets such as Mexico, Brazil, Chile and Argentina with an addition of 2,000 screens. The company aims to reach 10,000 screens in the next two years.
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