CineAsia to honor Vietnam's Megastar circuit with marketing award
Megastar Media Company Ltd., will be honored with the DLP Cinema® “Marketing Achievement Award” at the CineAsia convention in Hong Kong. Megastar chairman and CEO Brian Hall will accept the honor at the Dec. 13 awards luncheon at the Grand Hyatt Hong Kong.
“In a relatively short period of time, Megastar Media Company has become the leading exhibitor and distributor in Vietnam, with the highest-grossing cinema complex in the country,” noted Robert H. Sunshine, managing director of CineAsia.
Megastar was formed in 2005 as a joint venture between Envoy Media Partners Ltd. (EMP) and Phuong Nam Cultural Corp. (PNC). EMP is a financial vehicle originally formed between cinema veteran owner/entrepreneur Richard Rosenfield of Chicago and Zesiger Capital Group of New York specifically to invest in cinemas in Vietnam. The investment group was later expanded to include Prudential Vietnam Fund Management as well as Hall and Megastar chief financial officer Lim Eng Hee. PNC is a multi-faceted media company (principally bookstores) and is the local Vietnamese partner in Megastar. PNC's CEO is Ms. Phan Thi Le, who serves as vice-chairman of Megastar.
Megastar opened their first cinema complex and the first true multiplex cinema site in Vietnam in Hanoi's Vincom City Tower in April 2006. The site quickly became, and continues to be, Vietnam's highest-grossing cinema complex.
Megastar opened their first cinema complex in Ho Chi Minh City in 2007 at Hung Vuong Plaza, which remains today HCMC's highest-grossing cinema complex. Megastar opens its tenth site this month, which will increase its screen total to 78. The company has grown in less than seven years to almost 1,000 employees generating over US$35 million in annual revenue.
In addition to exhibition, Megastar Distribution is the leading theatrical distributor in Vietnam, releasing a range of Hollywood studio hits, local Vietnamese films, as well as key independent product from Western, Korean and other Asian producers.
In July 2011, EMP was sold to Asian cinema leader CJCGV of Korea.
CineAsia 2012 will take place Dec. 11-13 at the Hong Kong Convention and Exhibition Centre.