London 8th January 2019
Grand Vision Media Holdings Plc
(“GVMH” or the Company”)
Contract with Chinese Cinema Partner
Grand Vision Media Holdings Plc today announces a contract with Dadi Cinema Group (“Dadi”) in China, whereby GVMH will install its 3D panels in 22 new cinema locations in the Dadi network with installation work starting immediately. Dadi currently operates over 470 cinemas across China.
This represents the first collaboration between the two parties. GVMH plans to roll out to additional Dadi locations after this initial installation programme. In addition, GVMH has also secured the rights to cover all their advertising assets across Dadi’s 400+ cinemas with immediate effect. This will include video advertising on the mega video walls in cinema foyers as well as the right to organize off-line events in the foyers.
Jonathan Lo, CEO, said “We are delighted to have come to this agreement with Dadi as it provides us with the opportunity to take our advertising clients into Dadi’s popular cinemas in key locations across China. The agreement also allows us to expand our advertising products to mega video walls and across a broader geographic coverage, thus offering our customers more options to best meet their marketing goals.”
For further information, photos and enquiries please contact:
|Grand Vision Media Holdings plc|
Jonathan Lo / Ajay Rajpal
|Tel: +44 (0) 20 7866 2145|
|Alfred Henry Corporate Finance Ltd, Corporate Advisor|
Nick Michaels / Jon Isaacs
|Tel: +44 (0) 20 3772 0021|
|Alexander David Securities Ltd, Broker|
|Tel: +44 (0) 20 7448 9820|
|Keene Communications, Public Relations|
|Tel: +44 (0) 7887 610335|
Company web site: www.gvmh.co.uk
As an integrated outdoor digital media company, GVMH is deploying innovative display and marketing technologies at strategic, high-traffic locations. Our glasses-free 3D technology in digital OOH (Out-of-Home) media is enabling advertisers to engage with affluent consumers in important and growing markets. Our “space management” approach utilising the cinema space for events and exhibitions offers a total solution for our advertisers, with the potential of direct conversion to sales.
Our network is now spread over 180 locations covering 29 provinces in China and we are growing our business further within China and taking our technologies and expertise to new markets, specifically Thailand, Korea and Japan, where we have forged alliances and representations to take our business forward.
The digital OOH signage market is growing, and will continue to grow in the foreseeable future, and we want to be at the forefront of that growth by providing our customers with the ability to reach Chinese consumers as they become more affluent and seek access to more quality domestic and international products and services.
Two significant trends that are benefitting our growth are the Chinese appetite for foreign products and travel. GVMH is well positioned to take advantage of this trend as it acquires international brands and travel destinations as direct customers.
According to a report by Market Research Future (MRFR), the global digital signage market is estimated to be USD 26.3 billion by 2022. The market is predicted to expand at 6 % CAGR during the assessment period (2016-2022)*.
*Global Digital Signage Market Research Report – Forecast to 2022
About Dadi Cinema Group
Dadi Cinema Group (Dadi) is a wholly-owned subsidiary of Dadi Media, established in 2006 and is responsible for cinema management and operation.
Dadi is dedicated to enhancing the viewing experience through the application of high-quality projection technology.
In 2015, Dadi was the first in the China film industry to introduce “Movie +”, to create an experiential cinema ecosystem such as “Movie + Creative Internet”, “Movie + Creative Retail”, “Movie + Creative Catering”. In 2017, “Movie + Innovative Culture” was added to the “Movie +” strategy to upgrade the film screening zone into an interactive cultural and entertainment hub.
Dadi continues to innovate the cinema ecosystem, adding different business modes, to provide audiences with diversified services, and integrate movie culture into mass consumption.
At 30 June 2018, Dadi had an aggregate of 476 cinemas with 2,863 screens, operating in 29 provinces and 179 cities in China. In addition, there are over 300 cinemas contracted but not yet in operation.
In 2017, Dadi achieved total box office revenue of RMB 2,841 million (c.£325 million), ranking second among cinema investment and management companies in China.