Russia’s Karo Cinemas and Urban Property Developer ADG Announce Expansion Plans for the Moscow Market

PRESS RELEASE

Russian exhibitor Karo Cinemas and ADG Group have jointly announced a multi-site partnership that calls for Karo: New Generation multiplex cinemas to be opened and operated  in ADG Neighborhood centers throughout Moscow.  
 
The partners acknowledge that Russia, like all major economies, is facing significant challenges due to Covid-19. Nevertheless, the parties believe that Russia has already begun to help lead recovery for the global cinema sector. The announcement today cements that belief, as the partners continue their plans to provide moviegoing to presently underscreened and underserved neighborhoods in Moscow. 
 
In the fourth quarter of 2020 and the first part of 2021, Karo will open six venues in ADG centers located in the Moscow neighborhoods of Rassvet, Neva, Mars, Vysotta, Elbrus, and Budapest. Additionally, it is expected  that four more Karo locations in Kyrgizia, Ekran, Baikanour, and Sofia will open by the middle of 2021. The partnership assumes the opening of more cinemas with an additional 140 screens by the end of 2022. Each Karo venue will feature modern screen and sound technologies, full recliner seating, automated ticketing systems, and “u-choose” food and beverage areas.
 
This announcement follows the recent agreement between Karo and ADG in which Moscow cinema locations at Salaris and Angara were reorganized and rebranded into Karo cinemas. These former CGV sites are now fully owned by ADG, and the company is delighted to include them in their fast-growing partnership with Karo.
 
Paul Heth, executive chairman and CEO of the KARO Group, and Olga Zinyakova, Karo Cinemas president, said in a joint statement: “Being a… leader in the overall Russian cinema sector, we are very excited to announce this major new expansion initiative for Moscow with ADG. Moscow itself is one of the most important city/urban markets for film in Europe, and we are thrilled to continue the growth of Karo in this, our home market. We are constantly focused on shaping and improving the Moscow cinema choice for our patrons. Today’s moviegoers’ needs and expectations are ever-changing, and this partnership with ADG is one of the ways we can offer an amazing new cinema experience in a Karo format directly near their homes.”
 
Adds Bob Mayson, Managing Director of the ADG cinema design and build program: “The transformation of these historic locations into Neighborhood Centers and meeting places is a serious and extremely important task! When the Moscow city government approved us to take on this project, they entrusted us with delivering better services and experience to residents in their home locale”.

He went on to say, “I am delighted that we have struck this transformative and dynamic partnership with Karo, as they represent the best of what modern cinema is all about, and the way they have adapted their business model to provide a world class movie going experience in our venues is just outstanding”.

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