Rahul Sharma (Editor)

SPI Cinemas

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Covid-19
Industry  Entertainment
Parent  SPI Group Private Ltd.
Number of locations  10
Headquarters  Chennai
Area served  India
Website  spicinemas.in
Founded  1991
Type of business  Private
SPI Cinemas httpsuploadwikimediaorgwikipediaenthumb8
Key people  {{ubl|Kiran Reddy (MD)}

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SPI Cinemas is an Indian multiplex chain and film production company owned by the SPI Group, headquartered in Chennai, Tamil Nadu. The company began operating multiplexes in Chennai, and eventually expanded to several states in India. Originally named Sathyam Cinemas after its first multiplex, the company was later renamed SPI Cinemas as it introduced several other multiplexes. SPI is often lauded for its premium quality and inexpensive pricing. Its theatres, primarily Sathyam Cinemas, are often used by filmmakers for film premieres and audio launch events. Popcorn served at SPI Cinemas has received considerable praise from filmgoers and the media.

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SPI is notable for being the first multiplex operator in India to equip its screens with the Dolby Atmos and Auro 11.1 sound systems. SPI also introduced the first IMAX screens in Chennai with its Luxe Cinemas and Palazzo Cinemas brands.

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History

Sathyam Cinemas was originally named the "Royal Theatre Complex" and was built by Raja from Venkatagiri in April 1974. With a capacity of 1,255 seats, it was the largest multiplex built in Chennai at the time.

Kiran Reddy, the current CEO of SPI Group, revealed in a 2012 interview with The Hindu that Sathyam Cinemas was acquired by his family "from someone" in the 1980s. It was acquired for real estate purposes with no intention of continuing the theatre business. He claimed, "The intent was to demolish the Sathyam building. The theatre wasn't a viable business if you looked at the value of the land." However, when he got involved in the business, the family had made several improvements to the theatre. Reddy had taken over the business in 1999 and continued developing the theatre, adding three more screens and refurbishing the existing three.

In 2009, Sathyam Cinemas established itself as a film production company, producing its first film, Thiru Thiru Thuru Thuru.

In January 2015, PVR Cinemas was revealed to be in talks to acquire all the screens under the SPI Cinemas brand. However, the deal fell through due to the widespread sentimental and negative reactions received from filmgoers. Luxe Cinemas, which was opened in April 2014, was sold to Jazz Cinemas in October 2015.

Future

In September 2015, SPI revealed that a five-screen multiplex was under construction in Bangalore. SPI also revealed further plans of expansions in several states including Maharashtra, Andhra Pradesh, Telangana, Kerala and Pondicherry.

References

SPI Cinemas Wikipedia


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