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Korean Film News
CGV Vietnam Reaches 10 Million Moviegoers in 2018
Jul 17, 2018
- Writerby SONG Soon-jin
Membership subscriptions Increased 10 Times within 9 Months since Launch in September
CGV Vietnam has grown rapidly, attracting 10 million moviegoers in the cumulative audience in 2018. “On June 29th, CGV has reached 10 million customers. It is the fastest rate since entering the Vietnamese market in 2011.” CJ CGV announced.
CGV Vietnam has reached the 10 million milestones for the first time in December 2015, then again in September 2016 and August 2017. This year, the 10 million mark has been reached in June, making it for the first time in the first half of the year. “Compared to the standard of 10 million moviegoers in 2014, the scale has doubled within just three years.” A representative at CGV said.
CGV Vietnam’s sales figures of the first half of the year are thus expected to surpass those of 2015. CGV Vietnam’s revenue in the first half of 2015 reached USD 65.6 million (VND 14,000 billion or KRW 74 billion) through 30 theaters. The number of CGV cinemas in Vietnam increased to 57, since then and the company expects to record USD 168.4 million (VND 38 trillion or KRW 190 billion) in revenue. The conglomerate also plans to take the number of their theaters to 70 until this the end of the year.
On the other hand, CGV Vietnam plans to focus on reaching young audiences through U22, a membership program launched in late September last year. Based on the fact that approximately 40% of the Vietnamese population is under 24 years old, CJ CGV has launched the U22 program, in which audiences under the age of 22 can be provided incentives such as discounted screenings or food and beverage items. “After 9 months of operation of the U22 membership, the number of subscribers has increased from only 1% of total visitors at the time of its release to 10% now.” The multiplex cinema chain said.