Yesterday, 19 December 2011, Kinepolis Group signed a formal agreement to acquire 100% of the shares of advertising agency Brighfish. The acquisition should be seen in the light of the interest in keeping the Belgian cinema advertising market united and of the ambition of Kinepolis to achieve sustainable growth in that market.
Earlier on, Kinepolis had announced that it would take over the advertising firm Brightfish (formerly Screenvision Belgium) if a sound business plan could be presented which serves as a solid springboard to secure the future of Brightfish.
The realization of this business plan was made possible over the past few months by the efforts of the Brightfish management, the recent digitization wave in the Belgian cinema industry, and the willingness and patience that Kinepolis demonstrated with regard to a major debt claim that had arisen in 2009. Kinepolis took over Brightfish for a symbolic sum, considering the advertising firm's need for recapitalization.
As a result of the acquisition, Kinepolis extends its operations in Belgium. Besides cinema operation, in-theatre sales, business-to-business, real estate and film distribution, the group now also becomes active in screen advertising.
Brightfish has found in Kinepolis a solid shareholder that will make possible continuing investment in product development and also provide the necessary financial support, which is particularly important in a recession-prone industry.
Kinepolis Press Office
09 241 00 16
Brightfish, formerly Screenvision Belgium, markets 436 cinema screens, representing more than 97% of total cinema attendance in Belgium.
As a result of digitization, segmentation and interaction facilities will increase, while delivery times for getting advertising messages on screen are drastically cut. This new dynamic allows a repositioning of the medium to bring it closer to television and online media.
Besides selling national and local cinema advertising, Brightfish is also engaged in production, billing, field activation and event organization. It is also in charge of joint campaigns in the cinema industry, such as the Film Days and the content platform to promote Belgian film, cinevox.be.
In 2010, Screenvision Belgium (now Brightfish) realized an annual turnover of 12.8 million euros.
Through its network of cinemas, Kinepolis offers leisure and contemporary entertainment to all generations. The unique position of Kinepolis rests on three strategic pillars - Best Marketer, Best Cinema Operator and Best Real Estate Manager - which give Kinepolis a special thrust and prepare it for a future in which creativity, dynamism and dialogue form the key to a lasting relationship with the contemporary audience.
Since its establishment in 1997 and subsequent stock market flotation in 1998, Kinepolis has become market leader in Belgium and a prominent player in Europe. Kinepolis has 23 cinemas in Belgium, France, Spain, Poland and Switzerland. The group has a workforce of 1,880 people and counted 21.3 million cinemagoers in 2010. Proceeds in 2010 amounted to €239.2 million.