Ymagis Group Signs New VPF Deals in Turkey

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Mon, 06/22/2015 - 13:07 -- Nick Dager

The Ymagis Group has signed new virtual print fee agreements under the third-party collector-financing model with six major Turkish cinema exhibitor chains. The deals represent 409 screens in 50 cinema sites operated by Turkey’s Avsar Sinema, Cinemarine, Cinens Sinemalari, Prestige Cinema, Aksin Sinemari and Torunlar/Cinetech.

A vast majority of the exhibitors has also opted to purchase the Melody Theatre Management System software developed by Ymagis Group. The Melody TMS, which allows exhibitors to oversee the programming of their auditoriums and fully automate their projection booths, will equip 280 screens and more, across Turkey this year.

"Following the establishment in January 2014 of our subsidiary dcinex TR Sinema Ekipmanlari Ticaret Ltd. Sirketi headed by Cengiz Cilek, we have now taken a giant step forward in Turkey,” said Ymagis’ chief executive officer and co-Founder Jean Mizrahi. "With these new contracts, our Group has a very solid base upon which to build and grow our activities in a territory known for its tremendous potential. I particularly wish to acknowledge the assistance of SISAY, the Turkish association of movie exhibitors, which counts each of these new clients as members. It is thanks to the efforts of its president, Cenk Sezgin, that we have seen such outcome from our discussions while maintaining the industry’s common interests.”

"With 2,250 screens, 400 sites, 150 exhibitors and 20 film distribution companies, the Turkish motion picture industry is one of the most dynamic and important in Eastern Europe,” added Cenk Sezgin, president of SISAY. "The conclusion of these VPF agreements with Ymagis Group is without question our greatest achievement this year. Thanks to all the hard work by Jean’s and Cengiz’s respective teams, a large number of cinemas in Turkey will now benefit from the VPF financing model.”

The VPF agreements in Turkey will be effective through December 31, 2018. They are expected to contribute to Ymagis Group’s financial results as of this year.

According to the European Audiovisual Observatory, the Turkish marketplace is currently seeing significant growth in attendance, up 21.8 percent in 2014 to 61.4 million from 50.4 million the prior year.

Ymagis http://www.Ymagis.com