Japanese fund invests US$8 million in Beta Media to develop theater chain in VN
admin 17-06-2020, 12:37


Japanese fund invests US$8 million in Beta Media to develop theater chain in VN

Bui Quang Minh, the founder of Beta Media, shakes hand with a representative of Daiwa PI Partners (Photo: SGGP)


Beta Media receives US$8 million from Daiwa PI Partners, achieving an enterprise valuation of VND1,000 billion. Beta Media launched the Beta Cinemas cinema model at the end of 2014; so far, the media has had 12 cineplexes and some 60 cinema halls nationwide including in Hanoi, the northern provinces of Thai Nguyen, Bac Giang, Thanh Hoa, the South-Central Province of Khanh Hoa’s Nha Trang , the Southern Province of Dong Nai’s Bien Hoa Town and the Mekong Delta Provicne of An Giang’s Long Xuyen Town. With the new investment, Beta Media will open more cineplexes in the future and franchise cinemas in localities to grow stronger in the near future. Beta Media is the only company to franchise cinema in Vietnam. Presently, three franchised cineplexes in the southern provinces of Dong Nai and Ba Ria – Vung Tau reaped success. First Beta Cinemas in Ho Chi Minh City with seven rooms and 1,000 seats will be opened in October to serve customers in Go Vap District. In addition to investing modern cineplexes, Beta Media has also made three films. This year, Beta Media plans to cooperate with Thailand GMM to produce one more film. Last but not least, Beta Media is making concerted effort to make history film about Lang Lieu, one of Hung King’s sons who made banh chung and banh day, a traditional Vietnamese food made of sticky rice. The film is scheduled to come soon to theaters in Tet (the Lunar New Year) holiday. In 2015, Beta Media received investment capital from the Vietnam Investment Group and in 2017, it received US$2.5 million from the Blue HK Financial Group (Hong Kong) with a valuation of VND600 billion. Many singers, actresses, supermodels and hot bloggers such as Ha Anh, Kathy Uyen, Khanh Linh The Face, Vu Dino, Dang Khoa Idol were present at the agreement –signing ceremony to congratulate Bui Quang Minh, the founder of the company. Cineplexes were booming in 2019 with more than 200 facilities plus the government’s strategic policies, it is estimated that Vietnam will have 1,050 theaters by 2030 to serve 210 million audiences annually. Cinema market is considered as potential and attractive one for investors. Daiwa PI Partners is an entity of the Daiwa Securities Group, engaged in the business areas of debt investments, private equities and the establishment and management of investment funds.

By Khac Thi – Translated by Uyen Phuong

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