The Space Cinema
The Space Cinema was founded in 2009: today is the Italian leading cinema multiplex chain.
21 Invest entered the cinema market in 2009, simultaneously acquiring the two major industry players Medusa and Warner Village Cinema and creating the Italian leading multiplex chain The Space Cinema. Its leadership was further consolidated through 3 additional build-ups and 2 new openings, reaching a total of 36 multiplexes and a market share of over 20% in the Italian market.
During the holding period, 21 Invest led the company to make important technological investments to fully digitalize the network, introduce an innovative management of retail areas thereby significantly increasing the average sales per person, and launch the offering of non-film alternatives such as sports, concerts, and documentaries, widening the range of programming and increasing the sales per multiplex.
The strategy implemented by The Space Cinema redefined the business model of the Italian multiplex industry turning it into a profitable activity. The consolidation allowed the company to benefit from its size and synergies.
On the back of these targeted actions, The Space Cinema achieved a 50% growth in revenues and nearly triple its EBITDA.
In November 2014, 21 Invest sold The Space Cinema to the UK based Vue Entertainment, the European leader in the multiplex industry.
" The Space Cinema has transformed the cinema business in Italy and built one of the very best circuits in Europe. We are delighted about the results achieved "