More screens for Peruvian moviegoers

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LIMA--Peru's Cine Planet Corp. is rapidly adding cinemas to accommodate the country's movie-going public.

Cine Planet, which is backed by capital from the Nexus Group and Britain's CDC Capital Partners, runs two cinemas in Lima and will soon inaugurate two more cinemas. There are plans for four more movie houses in the next few years.

"The market is in a rapid period of growth. Peruvians have always loved the cinema. We are filling a need," says Rafael Dasso, public relations manager for Cine Planet.

In addition to Cine Planet, Peru's UVK Group and the multinational Cinemark are building multi-cinema complexes throughout Lima.

Despite Peru's lingering economic recession, the movie market remains good. The movie-going public grew from 3.4 million people in 1995 to 7.5 million last year.

Copyright August 2000, Crain Communications Inc.

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