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UFO Moviez’s asset-light franchisee venture Nova Cinemaz has inked an agreement with Y Screens Entertainment India to set up over 225 cinema screens in Andhra Pradesh and Telangana by 2020.
Nova Cinemaz and Y Screens together will set up ‘Y Screens Trade Development Centre (YSTDC), which would have two screen miniplex among other amenities.
The miniplex’s in the YSTDC centres will be branded and operated as Y Screen Nova Cinemaz. Y Screens shall ensure that it facilitates and offers co-operation for the establishment of Nova Cinemaz in 15 YSTD centres in the first six months and another 200 cinema screens over a period of three years.
While Y Screens Entertainment will make the necessary investment for setting up the theatre, Nova Cinemaz will provide branding support and programming of films at the theatre.
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